ZCCM-IH | Restructuring of the Balance Sheet

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

Restructuring of the ZCCM-IH Balance Sheet

ZCCM-IH currently has significant loans mainly arising from the restructuring programs undertaken prior to and during the company’s privatisation in 2000. The majority of these loans are owed to the Government of the Republic of Zambia (“GRZ”) and continue to be carried on the books of the company. As at 31 March 2011, the ZCCM-IH Financial Statements reflected loans amounting to K2, 139 billion (approximately US$425 million) owed to the GRZ.

These loans have placed a significant burden on the company with the result that ZCCM-IH has had a weak balance sheet from 2000.

The company has been in discussions with the GRZ over these loans and recently the GRZ accepted proposals to convert all or part of the loans to equity through a rights issue transaction. The main objective, amongst others, of the proposed debt-equity conversion is to clean the ZCCM-IH balance sheet.

ZCCM-IH is currently liaising with the GRZ to agree the terms of the transaction.

ZCCM –IH shares are listed on the Lusaka Stock Exchange (LuSE) and also traded on the Paris Bourse in France.

In compliance with the Securities Act, Cap 354 of the Laws of Zambia and the Listing Rules of the LuSE, further announcements will be made to inform the shareholders and the investing public as the transaction progresses.

Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.

12 December 2012

ZCCM-IH | Director’s Half Year Summary to 30 September 2011

In compliance with the requirements of the “Securities Act, Cap 354 of the Laws of Zambia” and the listing rules of the Lusaka Stock Exchange, ZCCM Investments Holdings Plc (ZCCM­IH) announces the unaudited results for the six month period ended 30th September 2011.

The Group achieved a turnover of K891, 764 million during the six month period ended 30th September 2011 which was 212% above the turnover of K285,896 million for the six months to 30th September 2010. This was mainly as a result of a profit of K699, 137 million [proceeds of K802, 357 million (US$167,507 million) less cost of K103, 220 million] from the sale of shares in Equinox Minerals Limited. However, the turnover for Ndola Lime Company (NLC) at K105,254 million, declined 41% from that of the same period in 2010. This decrease was largely due to the shutdown of the rotary kiln on account of a breakdown of the Electrostatic Precipitator (ESP). With only the vertical kiln being operational, there was reduced production which in turn resulted in reduced turnover and cost of sales compared to that for the period ended 30th September 2010.

Download the full Directors’ interim summary for the six months ended 30 September 2011 below:

Directors’ interim summary for the six months ended 30 September 2011

ZCCM-IH | Cautionary Announcement


Further to the Cautionary Announcement issued on 6 May 2011, ZCCM‐IH now advises its Shareholders as follows:

Equinox Minerals Limited (“Equinox”) is an international mining company that is dual listed in Canada and Australia on the Toronto Stock Exchange and the Australian Securities Exchange. Equinox has 100% interest in Lumwana Mining Company (LMC) located in Zambia and 100% interest in the Jabal Sayid copper‐ gold project in the Kingdom of Saudi Arabia.

Barrick Gold Corporation (Barrick), a Canadian company, and the leading gold mining company in the world in terms of production, reserves and market capitalisation, recently made an offer (the “Offer”) through its wholly owned subsidiary, Barrick Canada Inc., to purchase all of the issued and outstanding common shares of Equinox by way of negotiated take‐over bid at a cash price of Cdn$8.15 per share. The Equinox Board, after consultation with its financial and legal advisors and on receipt of a recommendation of its special committee, has unanimously determined that the Offer is in the best interests of Equinox and the Shareholders and, accordingly, the Equinox Board has agreed to unanimously recommend that Shareholders accept the offer and deposit their Shares under the Offer.

This development has been of significant interest to ZCCM Investments Holdings Plc (ZCCM‐IH) as the Company owns 2.28% shareholding in Equinox (as at 21 March 2011). This means that ZCCM‐IH has an indirect interest of 2.28% in LMC and 2.28% in Jabal Sayid.

Given that ZCCM‐IH’s interest in Equinox is registered on the Toronto Stock Exchange, the transaction involving Barrick is being conducted according to the rules and regulations of Canada.

After due consideration and consultation, the Board of ZCCM‐IH has accepted the offer which will result in a cash realisation in excess of US$160 million. The initial investment for ZCCM‐IH cost US$30 million in 2006 and therefore the potential return on investment is in excess of 400% during the period 2006 to 2011.

If within 120 days after the date of the Offer (or such longer period as a court may permit), the Offer has been accepted by holders of not less than 90% of the outstanding Shares as at the Expiry Time, excluding Shares held at the date of the Offer by or on behalf of the Offer or or an “affiliate” or an “associate” of the Offeror, the Offeror shall, to the extent possible, acquire the remainder of the Shares from those Shareholders who have not accepted the Offer on the same terms as the shares acquired under the Offer pursuant to the provisions of Section 206 of the Canadian Business Corporations Act. This will in effect be a Compulsory Acquisition.

The offer by Barrick to all shareholders of Equinox represents an opportunity for ZCCM‐IH to realise value from its investment. Upon receipt of the funds from Barrick, ZCCM‐IH will ensure that the funds are prudently managed while exploring all investment avenues within and outside of Zambia. It must be noted that as a listed investment company on the Lusaka Stock Exchange, ZCCM‐IH seeks to enhance value for its shareholders. The Board and Management of ZCCM‐IH will therefore ensure that the principle of realising value for the shareholders is maintained in their daily operations.

Accordingly shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.

Lusaka, Zambia ‐ 01 June 2011

ZCCM-IH | Cautionary Announcement

Shareholders of ZCCM Investments Holdings Plc (“ZCCM‐IH”) are advised that there are circumstances and developments relating to some companies where ZCCM‐IH Plc has a shareholding, the full impact of which are currently being determined and which may have a material effect on the price of the company’s securities.

The developments relate to the following:‐

Offer by Barrick Gold Corporation:

Barrick Gold Corporation of Canada has offered to purchase all outstanding common shares of Equinox Minerals Limited (“Equinox”) by way of a negotiated take‐over bid as detailed in the announcement posted on the Equinox website [http://www.equinoxminerals.com ]. Equinox currently owns 100% shares in Lumwana Mining Company Limited which operates in Zambia.

Offer by Vale Limited:

Vale Limited has issued an announcement of a firm intention to acquire the entire issued and to be issued ordinary share capital of Metorex Limited (“Metorex”) as detailed in the announcement posted on the Metorex Limited website [http://www.metorexgroup.com ]. Metorex owns 85% shares in Chibuluma Mines Plc which operates in Zambia.

Investors and the general public are hereby informed that ZCCM‐IH has a circa 2% shareholding in Equinox Minerals Limited and a 15% shareholding in Chibuluma Mines Plc.

Accordingly shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.

Lusaka, Zambia ‐ 06 May 2011

ZCCM-IH | Executive Appointment Announcement

As required by the provisions of the Securities Act, Cap 354 of the laws of Zambia, the Securities (Registration of Securities) Rules, 1993, and the Listing Rules of the Lusaka Stock Exchange (LuSE), the Board of ZCCM Investments Holdings Plc hereby announces the appointment of MR MUKELA MUYUNDA as the new Chief Executive Officer of the Company with effect from 8th February 2011.

Mr Muyunda who brings with him a wealth of managerial experience, was, until recently, the Managing Director of Zambia Telecommunications Company Limited (ZAMTEL) and previously served as Director of Finance for ZAMTEL as well as Director of Finance and Corporate Services for the Zambia Wildlife Authority and Finance Manager for Zambia Sugar Plc.

Mr Muyunda holds a Master of Science Degree in Accounting and Finance from University of Stirling (UK), a Bachelor of Accountancy Degree from Copperbelt University, is an Associate Member of the Chartered Institute of Management Accountants and a Fellow of the Zambia Institute of Chartered Accountants.

The Board is pleased to welcome Mr Muyunda to ZCCM­IH and looks forward to his contribution toward the realisation of ZCCM­IH’s vision of being the leading Zambian Investment Company in Mining.

By Order of the Board

Alfred J Lungu

ZCCM-IH | Company Secretary Change

In accordance with the requirements of the Securities Act, Cap 354 of the laws of Zambia, the Securities (Registration of Securities) rules, 1993, and the listing rules of the Lusaka Stock Exchange (LuSE), the Board of ZCCM Investments Holdings Plc hereby announces the confirmation and appointment of MR CHABBY CHABALA as its new Company Secretary.

Mr Chabala, who joined ZCCM­IH in 2006 in Company Secretarial Department, is a holder of a Bachelor’s Degree in Business Administration and is also a qualified Chartered Secretary of the United Kingdom based Institute of Chartered Secretaries and Administrators. Prior to joining ZCCM Investments Holdings Plc, Mr Chabala worked for Zambia Revenue Authority in the Value Added Tax (VAT) Department over the period 1998 to 2006 and served in several units dealing with enforcing compliance and monitoring tax payer performance.

The Board looks forward to Mr Chabala’s contribution towards making the Company achieve its vision of becoming the leading Zambian Investment Company in mining and preferred partner in other sectors of the economy.

By Order of the Board


ZCCM-IH | Notice of change of financial year

Notice is hereby given that ZCCM Investments Holdings Plc intends to change its financial year by changing the accounting reference date that would have fallen on 30 June 2010 to 31 March 2010.

This means that the current financial year that commenced on 1 July 2009 will end on 31 March 2010 and that 31 March becomes the new Accounting Reference Date there from.

The change has been necessitated by the need to align ZCCM­IH’s financial year end around that of the majority of its investee companies (subsidiaries and associates) and thereby reduce the delays caused by having to adjust for more than one quarter, data of annual reports obtained from investee companies.

By Order of the Board

C Chabala
Acting Company Secretary

January 2010