ZCCM-IH

Corporate Announcements

ZCCM-IH | Cautionary announcement

Background

Shareholders of ZCCM Investment Holdings (“Shareholders”) (“ZCCM-IH”) will be aware that in February 2016, ZCCM undertook to subscribe for all shares not subscribed for by other Investrust Bank Plc (“Investrust”) shareholders in the Investrust Rights Offer (the “Rights Offer”). This resulted in ZCCM-IH’s shareholding in Investrust to increase from 10% to 48.6%. As a result, ZCCM-IH was required to proceed with a Mandatory Offer to all the other shareholders in Investrust in accordance with Rule 56 of the Third Schedule of the Securities
(Takeovers and Mergers) Rules, Statutory Instrument No 170 of 1993, (the “Takeovers Rules”), issued pursuant to the Securities Act, Chapter 354 of the Laws of Zambia (the “Securities Act”).

However, as provided for in the Takeovers Rules, ZCCM-IH opted to apply to the Securities and Exchange Commission (“SEC”) for a waiver to proceed with a Mandatory Offer which was granted by the SEC on 21 October 2016 on condition that ZCCM-IH will sell-down its shareholding in the Bank to below 35% by 21 October 2017.

Hitherto, ZCCM-IH has only managed to sell 3.2% and ZCCM-IH thus currently has a shareholding of 45.4% in the Bank.

Notification of Intention to Undertake a Mandatory Offer to Investrust Shareholders

ZCCM-IH has now resolved that it would immediately and prior to the expiration of the waiver period proceed to undertake a Mandatory Offer to all Minority Shareholders in Investrust and thus, on 18 May 2017, ZCCM-IH formally notified the Board of Investrust of its intentions to proceed with a Mandatory Offer to the Minority Shareholders of Investrust prior to the 21 October 2017 deadline.

ZCCM-IH is currently in discussions with Investrust on the process and timing of the Mandatory Offer and will provide further information once the discussions have been concluded.

Accordingly, and in the meantime, Shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.

By Order of the Board
Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on 29 May 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 29 May 2017

Corporate Announcements

ZCCM-IH | Cautionary renewal

ZCCM Investments Holdings PLC (“ZCCM-IH”) Files a Notice of Arbitration against Kansanshi Holdings Limited and Kansanshi Mining PLC and Legal Proceedings against First Quantum Limited, FQM Finance Limited, Philip K.R. Pascall, Arthur Mathias Pascall, Clive Newall, Martin R. Rowley and Kansanshi Mining PLC.

On 26 October 2016, ZCCM-IH filed a Notice of Arbitration in London against Kansanshi Holdings Limited and Kansanshi Mining PLC. Further, on 28 October 2016 ZCCM-IH commenced Legal Proceedings in Lusaka 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.

Further to the Cautionary Announcement released by ZCCM-IH on 17 March, 2017 regarding these matters 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 the matters are yet to be determined. Shareholders will be updated as the cases progress.

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

Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on 18 May 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 1 November 2016
ZCCM-IH News

ZCCM-IH seeks new strategic partnerships

London, UK – ZCCM Investments Holdings Plc (ZCCM-IH) Chief Executive Officer Dr Pius Kasolo says the Company’s adoption of a multi-commodity approach is an important part of its resilience in light of the cyclical nature of commodities.

Dr Kasolo noted that this approach presents ZCCM-IH as an investment gateway not only into Zambia’s mining sector, but into other sectors as well.

He was speaking during the annual 2017 Zambia Mining Investment Conference in London on 25 April 2017.

“We will continue to grow our portfolio beyond mining and will further increase our foothold in the energy sector, agriculture sector and real estate so that the company continues to maximize shareholder value”, said Dr Kasolo.

While presenting investment opportunities that ZCCM-IH has for potential strategic partners, particularly in energy, and oil and gas exploration, Dr Kasolo highlighted that the goal is to tap into new sources of consistent and stable income while reducing the risk profile of the Company’s portfolio, which currently has an exposure of more than 90% to copper.

He concluded by reiterating ZCCM-IH’s commitment to contribute to the industrialization of Zambia through new investments.

The Zambia Mining Investment Conference was this year mainly sponsored by ZCCM-IH.

The conference is a high level mining conference that looks at the state of the mining industry, and to promote the Zambian mining sector presenting opportunities and potential growth prospects for both investors and mining companies.

A mix of about 100 delegates from mining companies, investors, lenders, resource funds, Analysts, Investment Banks, various professional services organisations and consultants in the mining sector attended the conference.
Archived Tenders

Invitation for Bids | Design, Brand, Construct the ZCCM-IH Stand at the 2017 Zambia International Trade Fair (ZITF)

Design, Brand, Construct the ZCCM-IH Stand at the 2017 Zambia International Trade Fair (ZITF), and Design, Print and Supply of various ZCCM-IH Branded Promotional Materials as one (1) Lot.

ONB No.: ZCCM-IH/010/2017

  1. ZCCM Investments Holdings Plc. (ZCCM-IH) has received financing from own sources toward the CAPEX for the 2017/2018 Financial Year, and it intends to apply part of the proceeds of this financing to payments under the Contract for the Design, brand and Construct the ZCCM-IH Branded Stand at the 2017 Zambia International Trade Fair (ZITF), and the Design, Print and Supply of Various ZCCM-IH Branded Promotional Materials, Contract No.: ZCCM-IH/010/2017.
  1. ZCCM-IH Plc. now invites sealed bids from eligible and qualified bidders for the Contract for the Design, brand and Construct the ZCCM-IH Branded Stand at the 2017 Zambia International Trade Fair (ZITF), and the Design, Print and Supply of Various ZCCM-IH Branded Promotional Materials as one (1) Lot.
  1. The 2017 (ZITF) Show commences from 28th June to 4th July 2017 and the theme is: Industrialisation through Innovation.
  1. Bidding will be conducted through the Open National Bidding (ONB) procedures specified in the Public Procurement Act of 2008 and the Public Procurement Regulations of 2011 and is open to all bidders from Eligible Source Countries as defined in the Bidding Documents. The following CEEC preferential treatment shall be applied as part of the evaluation:3.1 Citizen-influenced company – 4%
    3.2 Citizen-empowered company – 8%
    3.3 Citizen-owned company – 12%
    3.4 Domestically manufactured goods by citizen-influenced company, citizen-empowered or citizen-owned company – 15%.
  1. Interested eligible bidders may obtain further information from the address below and inspect the Bidding Documents at this address from 08:00 – 13:00 and 14:00 – 17:00 local time, Monday to Friday inclusive.
  1. Qualifications requirements include:
    i) Experience as a prime contractor in the rehabilitation of at least two (02) contracts of a similar nature and scope in the last five (05) years;ii) A minimum amount of liquid assets and/or credit facilities of ZMW916, 520.00.iii) Completion of the total assignment and hand over of the branded stand is 23rd June 2017

    iv) The submission date for Proof reading of the designed printed various ZCCM-IH Branded Promotional Materials is 19th June 2017.

    v) Delivery of the designed and printed various ZCCM-IH Branded Promotional Materials  to ZCCM-IH Office Park is 26th June 2017.

    PLEASE NOTE THAT TIME IS ESSENCE IN THIS ASSIGNMENT.

  1. A complete set of Bidding Documents in English may be purchased by interested bidders ON THE SUBMISSION OF A WRITTEN APPLICATION to the address below and upon payment of a non-refundable fee of Zambian Kwacha Five Hundred (ZMW500.00). The method of payment will be either Cash or Bank Certified Cheque.
  1. The address referred to above is:

    K D Kabwe (Mrs.)
    ZCCM Investments Holdings Plc.ZCCM-IH Office Park
    Stand No. 16806, Alick Nkhata Road
    Mass Media Complex Area
    Lusaka, Zambia
    Tel: +260-211-228833

    E-mail: kabwekd@zccmnew.wpenginepowered.com

  1. Bids must be delivered to the address below at or before 10:00 hours local time on Tuesday, 30th May 2017. Electronic bidding shall not be permitted. Late bids will be rejected. Bids will be opened physically in the presence of the bidders’ representatives who choose to attend in person at the address below immediately after 10:00 hours on Tuesday, 30th May 2017.  All bids must be accompanied by a Bid Securing Declaration.
  1. There will be an official site visit on Thursday, 18th May 2017. All prospective bidders to meet at the Zambia International Trade Fair Grounds, Ndola at 10:30 hours.
  1. The address referred to in clause 8 is:K D Kabwe (Mrs.)
    ZCCM Investments Holdings Plc.
    ZCCM-IH Office Park
    Stand No. 16806, Alick Nkhata Road
    Mass Media Complex Area
    Lusaka, Zambia.
Investee Company News, ZCCM-IH News

KCM pays ZCCM-IH $100 million

ZCCM-INVESTMENT Holdings (IH) has todate received US$47 million in payments to recover over US$100 million owed by Konkola Copper Mines (KCM). Last year, ZCCM-IH commenced legal proceedings against KCM Plc in the London Courts to recover over US$ 100 million it was owed after the court’s ruling that the latter pays ZCCM-IH.

ZCCM-IH chief executive officer Pius Kasolo said the two organisations which, continue to enjoy a cordial relationship, agreed on a payment plan and has been making payments from January to April.

“KCM paid US$20 million, US$22 million in February US$2.5 million in March and another US$2.5 million in April.

“Subsequent to the judgment ZCCM-IH and KCM agreed on a payment plan favourable for both parties in the interest of the business. KCM has since been making payments as agreed, and I must say we continue to work together as partners,” he said.

Dr Kasolo said ZCCM-IH remains committed to work closely with mining companies as they are partners in the development of the country and is confident about the fundamentals of the mining industry in general and those of copper.

“Overall, we will continue to grow our portfolio beyond mining and will further increase our foothold in the energy sector, agriculture sector and real estate so that the company continues to maximise shareholder value.

“We are focused on driving sustainable long-term growth and value creation in our investment portfolio,” Dr Kasolo said.

Source: Daily Mail
ZCCM-IH News

Companies should diversify portfolios

We are all agreed that diversification is one of the best options to grow Zambia’s economy.

The need to do so arises from the  fact that there are many more avenues we can explore other than depend on copper alone to bring the country the much-needed export earnings.

The abundant God-given resources Zambia has should be put to good use, that is, they should create wealth that will benefit the country’s citizens and lift the index on export earnings.

The current economic challenges have left a negative impact on most enterprises. A number of them are struggling to break even in the realm of a harsh economic environment.

But these challenges have propelled some companies to consider novel ways of keeping afloat while remaining relevant to their customers. At the same time, the novel ways are also earning them more customers.

We have in mind the Zambia Consolidated Copper Mines – Investment Holdings (ZCCM –IH), which is diversifying its operations from mining to agriculture.
In support of such initiatives, government is tailoring its policies towards growing the economy, and the business sector would do well to take advantage of these policies.

Agriculture is not like mining. While mining may offer huge returns, they may not last longer than the ones offered in agriculture.

We are taught, from our secondary school lessons that copper is a wasting asset. Once it leaves the soil, there is no replacing it until we get to a point when we do not have it anymore.

With this in mind, the need to find other options to sustain a livelihood becomes imperative.

We can argue that it is difficult to come up with a sustainable way of mining but this is not the case with farming. As long as we use sustainable methods of preserving land, it will remain usable by future generations.

In comparison to mining, farming is a lot cheaper because it demands less labour and the processes involved in arriving at the final product are less expensive.

We therefore commend the ZCCM–IH for looking at eucalyptus production as an option to its current economic activities.

ZCCM-IH chief executive officer Pious Kasolo says the project will be established in Muchinga Province. It is expected that from the project, ZCCM-IH will produce biomass, fuel, essential oils, fertiliser, among other things.

We want to believe that the establishment of the project means the setting up of a plantation which will host the plants from which the by-products will come.

By its nature, a plantation will provide jobs for the local people and so will other processes that will involve extraction of the by-products from the plants.

If handled well, the project offers positive prospects that will propel not only the economy of Muchinga Province but the country at large and contribute to the gross domestic product.

There are a number of enterprises that are struggling and we are sure they would do well to consider diversifying their portfolio, like the ZCCM-IH has done.

Sticking to the old way of doing business will plunge some of them into further financial woes to the extent that they fail to meet their obligations to suppliers and workers.

Banks are usually available to offer capital for projects and we urge some of these companies to move in this direction. We are convinced the agricultural sector offers a better alternative for the survival of any enterprise.

There are also some new-comer enterprises on the market which are involved in a diversified range of economic activities and their balance sheet is showing positive results.
Archived Jobs

ZCCM-IH | Job Advertisement – Chief Investments Officer

ZCCM Investments Holdings Plc (ZCCM-IH) is an investments holding company which has a primary listing on the Lusaka Stock Exchange and secondary listings on the London and Euronext (Paris) Stock Exchanges. The Company has majority of its investments held in the copper mining and energy sectors of Zambia. ZCCM-IH’s majority shareholders are the Industrial Development Corporation (IDC) with 60.3%, Government of the Republic of Zambia (GRZ) with 17.3% shareholding. The National Pensions Scheme Authority (NAPSA) holds 15% shares while other individual and institutional shareholders numbering over 4,000 located in different parts of the world hold 7.4% shares.

The Company invites applications from suitably qualified and experienced individuals who are innovative, energetic and performance driven to fill the following vacancy in the Investments Directorate;

Position
Chief Investments Officer – 1 position

Grade
ZH2

For a detailed job description and specification for the position above please visit:
https://zccm-ih.com.zm/news/careers-tenders/

Application Procedure

Application letters together with certified copies of certificates and detailed curriculum vitae should reach the undersigned not later than 21st April 2017.

Human Resources Manager
ZCCM Investments Holdings Plc
ZCCM IH Office Park, Stand No 16806
Alick Nkhata Road, Mass Media Complex Area
P O Box 30048
LUSAKA

Alternatively, applications should be sent to: jobs@zccmnew.wpenginepowered.com

Related download
Corporate Social Investment, ZCCM-IH News

ZCCM-IH Donates to Zambia Prisons

ZCCM Investments Holdings Plc donates assorted items for the nursery school being set-up by Mother of Millions Foundation at Kamfinsa Female Prisons in Kitwe.

Kamfinsa Female prisons on the Copperbelt has incarcerated mothers who are living with some of their young children within the facility.  According to the Mother of Millions  Foundation’s Faith Kalungia, the prison currently has seven (7) children between the ages of two (2) years to three (3) years, and three (3) new born babies. The number of children vary between 10 to 30 at a given time. These children face harsh conditions with no amenities provided to meet even their most basic needs.

ZCCM-IH women donated an assortment of items which will included: Small plastic tables, chairs, toys, small blankets, matts, a refrigerator and a TV set; for the Kamfinsa female prisons particularly for the children within the prison where their mothers are serving a sentence.

“We are not just women, we are also mothers. As mothers our hearts are gripped with sadness to see children in here suffering because of the mistakes of their mothers. We are here to offer support to these women and their children, and show them that the community outside has not forgotten about them…” Claudette M. Malambo, ZCCM-IH.

Mother of Millions, an NGO which is involved in helping and providing an early childhood education and recreation facilities within prisons received the donation in the presence of Zambia Prison’s personnel.

“On behalf of our Faith (Mother of Millions Founder), I would like to thank the entire ZCCM-IH team for this very generous donation to the Mother of Millions Foundation . The donation you have made is going to feed, clothe, and educate the children at Kamfinsa Female Prisons.” Mrs. Taonga Shamboko, Mother of Millions Foundation Head – Lusaka.

The donation was made during the commemoration of International Women’s Days on 8th March 2017 at Lusaka’s Chimbokaila Prisons, where the Mother of Millions has already set-up a nursery school and playground for the children with incarcerated mothers at this facility.
Archived Tenders

Invitation for Bids | Supply, Delivery, Installation and Commissioning of Digitisation Equipment and Software ONB No.: ZCCM-IH/090/2016

  1. ZCCM Investments Holdings Plc. (ZCCM-IH) has received financing from own sources toward the CAPEX for the 2017/2018 Financial Year, and it intends to apply part of the proceeds of this financing to payments under the Contract for the Supply, Delivery, Installation and Commissioning of Digitisation Equipment and Software.

  2. ZCCM-IH now invites sealed bids from eligible and qualified bidders for the Supply, Delivery, Installation and Commissioning of Digitisation Equipment and Software. The delivery period is no more than six (06) weeks.

  3. Bidding will be conducted through the Open National Bidding (ONB) procedures specified in the Public Procurement Act of 2008 and the Public Procurement Regulations of 2011 and is open to all bidders from Eligible Source Countries as defined in the Bidding Documents.

  4. Interested eligible bidders may obtain further information from ZCCM-IH, K D Kabwe (Mrs.), E-mail: kabwekd@zccmnew.wpenginepowered.com and inspect the Bidding Documents at the address given below from 08:00 – 13:00 and 14:00 – 17:00.

  5. Qualifications requirements include:
    i) Experience and Technical Capacity:

    • Carried out at least two (02) contracts of a similar nature and scope in the last three (03) years;
    • Bidder to demonstrate availability of own servicing workshops in Ndola;

    ii) Liquidity of ZMW360,000.00

  6. A complete set of Bidding Documents in English may be purchased by interested bidders on the submission of a written Application to the address below and upon payment of a non refundable fee Zambian Kwacha Five Hundred (ZMW500.00). The method of payment will be Cash or Bank Certified Cheque.

  7. Bids must be delivered to the address below at or before 10:00 hours on 31st March 2017. Electronic bidding will not be permitted. Late bids will be rejected. Bids will be opened in the presence of the bidders’ representatives who choose to attend in person at the address below immediately after 10:00 hours on 31st March 2017. All bids must be accompanied by a Bid Securing Declaration (in the format included in the Bidding documents):

  8. The address referred to above is:
    K D Kabwe (Mrs.)
    ZCCM Investments Holdings Plc.
    ZCCM-IH Office Park
    Stand No. 16806
    Alick Nkhata Road
    Mass Media Complex Area
    P.O. Box 30048
    Lusaka