ZCCM-IH | Notice of Extraordinary General Meeting

NOTICE IS HEREBY given that an Extraordinary General Meeting of the members of ZCCM Investments Holdings Plc will be held on Friday, 17th May 2013 at 10:00 hours at Southern Sun Ridgeway Hotel, corner of Church Road and Independence Avenue, Lusaka, Zambia for the following business:

  1. To receive and adopt the audited Financial Statements of the Group for the year ended 31st March 2012, together with the Reports of the Directors and the Auditors to the Shareholders.
  2. To ratify the appointment of Directors.
  3. To ratify the appointment of Auditors for the financial year ended 31st March 2013 and to authorise Directors to fix their remuneration thereof.

A member entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and, on a poll, to vote in his/her stead. The proxy need not be a member of the Company. The instrument appointing a proxy must be deposited at the office of the Company Secretary not less than 48 hours before the time appointed for holding the meeting.

By Order of the Board

Download the full notice and agenda of the meeting below:

Notice and Agenda of the Extraordinary General Meeting

ZCCM-IH | Settlement Agreement Announcement

The market and shareholders are advised of the following new
developments relating to the Company.


ZCCM Investment Holdings Plc (“ZCCM-IH“) and Konkola Copper Mines (“KCM“) announce that they have entered into an agreement (the “Settlement Agreement“) pursuant to which certain outstanding payments owed by KCM to ZCCM-IH and certain other contingent amounts payable, in each case, under existing price participation arrangements (the “Price Participation Agreements“) which date back to March 2000 have been settled on the terms summarised below

Concurrently with the entry into the Settlement Agreement on 11 February 2013, the Price Participation Agreements dated 31 March 2000 were terminated.

The Price Participation Agreements were put in place at the time of the privatisation of Zambia’s copper mining industry as part of the consideration and were designed to allow ZCCM-IH to benefit from an increase in the price of copper over the long term.

Due to the complex mechanics for calculating the amount due and payable under the Price Participation Agreements and the contingent nature of payments likely to arise in the remaining life of the Price Participation Agreements, the parties have worked to put in place a new agreement with an unconditional and clear payment plan.

Under the Settlement Agreement, US$46,324,655 is required to be paid by KCM (via installments) to ZCCM-IH on or before 31 August 2013, and a further US$73,420,000 (via installments) on or before 30 September 2016.

The total amount payable under the Settlement Agreement remains broadly unchanged (in dollar amount terms) from the amounts that were due and would likely have become payable under the Price Participation Agreements over time. However, ZCCM-IH considers the increased certainty of the payment obligations as additional cash-flow benefits that will assist ZCCM-IH in its day-to-day business operations and future investment plans.


For further information, please contact:
Mr. Chabby Chabala,
Company Secretary
Telephone: + 260 211 221023 / 220540
Email: cchabala@zccm-ih.com.zm

08 April 2013

Lusaka – Zambia

ZCCM-IH | Appointments

Ms Mutale Chanda is the new Chief Operating Officer of ZCCM-IH Plc. Ms Chanda’s career started at Barclays Bank Zambia Limited where she worked to the position of Priority Banking Manager before leaving for the United Kingdom to pursue her studies. Whilst in the United Kingdom she obtained a Bachelor of Financial Services Degree and an MBA. After completing her studies, Ms Chanda worked in various organizations as a Financial Accountant before becoming Assistant Financial Controller for Associated Spring, a UK based subsidiary company of Barnes – a NYSE listed company. Before coming back to Zambia Ms Chanda worked as Head of Financial Accounts for the NHS.

Mr Joseph Lungu is the new Investor Relations Officer. He has a BEng in Mechanical Engineering from Manchester University and while in the UK he worked in various roles for News Corporation Plc, Royal Mail, Virgin Media Plc and Sage Plc  in Customer Services and Finance. Before joining ZCCM-IH Plc he worked as an Investment Advisor and Securities Trader at Intermarket Securities Ltd.

By Management

ZCCM Investments Holdings