ZCCM Investments Holdings PLC’s (“ZCCM-IH”) Legal Proceedings against First Quantum Minerals Limited, FQM Finance Limited, Philip K.R. Pascall, Arthur Mathias Pascall, Clive Newall, Martin R. Rowley and Kansanshi Mining PLC.
On 28 October 2016, ZCCM-IH commenced Legal Proceedings in the High Court of Zambia against First Quantum Minerals Limited, FQM Finance Limited, Philip K.R. Pascall, Arthur Mathias Pascall, Clive Newall, Martin R. Rowley and Kansanshi Mining PLC for various Claims arising from transactions between Kansanshi Mining Plc and FQM Finance Limited. The Defendants applied to set aside the Writ of Summons and Statement of Claim for irregularity (“the Defendants’ Applications”).
Further to the Cautionary Renewal released by ZCCM-IH on 14th November 2017 and in compliance with the requirements of the Securities Act No 41 of 2016 and the General Obligations of Disclosure under the Continuing Obligations of the Listings Requirements of the Lusaka Securities Exchange , shareholders are informed that on 25th January 2018, the High Court dismissed the Defendant’s Applications . Shareholders will be updated of any further developments regarding the proceedings.
Shareholders of ZCCM-IH are accordingly advised to exercise caution when dealing in securities of the Company until further information is published.
By Order of the Board
Issued in Lusaka, Zambia on 6 February 2018
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First Issued on 1 November 2016