NOTICE IS HEREBY GIVEN that the Twenty first Annual General Meeting (AGM) of the members of ZCCM Investments Holdings Plc (“ZCCM-IH”) will be held both physically and virtually on Friday, 18 July 2025, at 10:00 hours. The physical meeting will take place at the Southern Sun Ridgeway Hotel, Corner of Church Road and Independence Avenue, in the Zango Conference Hall, Lusaka, Zambia. Members may also attend virtually via video conferencing using the following link: https://eagm.corpservezambia.com.zm/eagm/. The purpose of the meeting is to transact the following business:
INTEGRATED ANNUAL REPORT
About this Report
The Integrated Annual Report for the year ended 31 December 2024 provides a holistic view of ZCCM Investments
Holdings Plc (“the Company or ZCCM-IH”) and its subsidiaries (“the Group”) business model, how the Company is
managed and how it manages its investment portfolio. This report therefore provides a complete analysis of our
business to satisfy the information needs of key stakeholders that will use the Integrated Report. The information
presented aims to provide our various stakeholders with a good understanding of the financial, human, social,
environmental and economic impacts of ZCCM-IH to enable them to evaluate our ability to create sustainable
value for our stakeholders.
Framework
The Financial Statements set out on Pages 50 to 198 have been prepared in accordance with and IFRS®
Accounting Standards and its interpretations as issued by the International Accounting Standards Board (IFRS
Accounting Standards). Our Integrated Report is prepared in compliance with the Companies Act of Zambia
and the listing requirements of the three stock markets on which ZCCM-IH is listed namely: Primary market –
Lusaka Securities Exchange, and Secondary markets – Paris Euronext Access and London Stock Exchanges.
Notice Of Change In Directorate
In compliance with Section 3.59 of the Lusaka Securities Exchange Listing Rules (“LuSE Rules”), ZCCM- IH wishes to inform shareholders that the majority shareholder, the Industrial Development Corporation (“IDC”), appointed Mr Anthony Chilengi as Non-Executive Director on the ZCCM-IH Board effective 21st November 2024.
DIRECTORS’ INTERIM UNAUDITED FINANCIAL RESULTS FOR ZCCM INVESTMENTS HOLDINGS PLC …
INTRODUCTION
In compliance with the requirements of the “Securities Act, No. 41 of 2016 of the Laws of Zambia” and the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings PLC (“ZCCM-IH”, “ZCCM”, “the Company”, “We” or “Our”) announces the interim unaudited financial results of the Company and its Subsidiaries (colectively referred to as “the Group”) for the six months’ period ended 30th June 2024.
CHIEF EXECUTIVE OFFICER’S COMMENTARY
I am pleased to share ZCCM-IH’s financial results for the first half of 2024, which highlight several key strategic developments. A major highlight is our new partnership with Delta Mining Limited, focusing on Mopani Copper Mines Plc. Additionally, Konkola Copper Mines Plc (KCM) has successfully completed all necessary formalities, leading to Vedanta’s release of USD250 million. This marks the final step in the implementation agreement, resulting in KCM’s removal from the liquidation process. Following this, a new Board has been appointed, and Vedanta has officially taken over the operations of KCM.
Invitation to the ZCCM-IH Shareholder Open Day
ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”) wishes to announce that it will be hosting a Shareholder Open Day on Friday, 4th October 2024, at Southern Hotel, from 10:00 hours to 12:00 hours (CAT). The event will be streamed live via ZOOM. This annual event is an opportunity for us to engage with you, our valued shareholders, and provide updates on the company’s performance, strategic direction, and future outlook.
The event will feature presentations by the Chief Executive Officer who will cover a detailed presentation on our strategic roadmap, the Chief Investments Officer who will speak about upcoming projects, including growth initiatives and investment opportunities and the Chief Financial Officer who will present a comprehensive overview of our financial performance, including detailed analyses of our half year results.
Market Announcement – Maamba Energy Limited 300 MW Phase II Power Plant Project
Shareholders are referred to the announcement dated 10th July 2024 wherein the Board of ZCCM Investments Holding Plc (“ZCCM-IH” or the “Company”) informed shareholders and the market that Maamba Energy Limited (“MEL”), formerly Maamba Collieries Limited, had reached an agreement with anchor lenders regarding the financing for the construction and installation of an additional 300-Megawatt power plant at MEL (“the Project”). It was further indicated that the total estimated cost of the Project is USD 400 million, of which approximately USD 300 million will be financed by a consortium of lenders. ZCCM-IH will contribute USD 15 million towards the debt portion in form of a loan that will have a tenor of 10.25 years from construction start inclusive of a moratorium of 3.25 years. The interest rate will be nine per cent per annum.
KCM Cautionary Withdraw Announcement
The Board of Directors of ZCCM Investments Holdings Plc (“ZCCM-IH”) (“the Board”) wishes to refer the shareholders and the market to the announcement dated 23 May 2019 regarding ZCCM-IH filing a petition in the High Court of Zambia (“the Court”) for the winding up of Konkola Copper Mines PLC (“KCM”) on 21 May 2019 (the “Petition”) and the subsequent appointment of Mr Milingo Lungu as Provisional Liquidator of KCM (the “Provisional Liquidator”) by the Court.
ZCCM-IH Market Announcement Change in Directorate
In compliance with Section 3.59 of the Lusaka Securities Exchange Listing Rules (“LuSE Rules”), ZCCM-IH wishes to inform shareholders that the Industrial Development Corporation, the Majority Shareholder, has withdrawn the appointment of Mr Moses S Nyirenda as Non-Executive Director on the ZCCM-IH Board effective 17th July 2024.
ZCCM-IH Lubambe Market Announcement
The Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or the Company”) wishes to inform its shareholders and the public that EMR Capital has sold its 80% shareholding in Lubambe Copper Mines Limited (“Lubambe”) to JCHX Mining Management Company Limited (“JCHX”) who has acquired this stake through its wholly owned overseas subsidiary Sundimo Mining Investments Limited (“Sundimo”) who will hold this 80% of the issued share capital of Lubambe including claims on shareholder loans via a Share Sale and Purchase Agreement. As the principal funder, JCHX through Sundimo intends to invest circa USD 300 million into Lubambe for operations and extension of the life of mine. A new Shareholders agreement and commercial terms shall be negotiated between ZCCM-IH and Sundimo.
ZCCM-IH – Maamba Collieries Limited 300 MW Phase II Power Plant Project
The Board of ZCCM Investments Holding Plc (“ZCCM-IH” or the “Company”) wishes to inform the shareholders and the market that Maamba Collieries Limited (“MCL”), has reached an agreement with anchor lenders in relation to financing for construction and installation of an additional 300 MW power plant at MCL referred to as the Project.