Confidential Arbitration Proceedings between Trafigura Pte Limited (“Trafigura”) and ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”)
Further to the cautionary announcement dated 31 March 2025 issued by ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) in relation to arbitration proceedings instituted
by Trafigura Pte Limited (“Trafigura”) against the Company.
Shareholders of ZCCM-IH are advised that, pursuant to a guarantee signed by ZCCM-IH’s then CEO in favour of Trafigura on 28 July 2021 (“Guarantee”), on 24 February 2024 Trafigura filed a request for arbitration against ZCCM-IH (as respondent) brought under the London Court of International Arbitration Rules 2020. These arbitration proceedings are strictly confidential as between the parties.
ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) hereby informs its shareholders and stakeholders of measures undertaken by the company due to its inability to publish audited financials within the stated regulatory timeframes of the Lusaka Securities Exchange (“LuSE”) and the London Stock Exchange (“LSE”).
In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules (“LuSE Rules”), ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) wishes to inform its shareholders and the market that the Company has, by mutual agreement, separated with its Chief Executive Officer, Dr. Ndoba J. Vibetti, effective 30 April 2025.
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”), has reappointed Bishop Joahn H Mambo as Non-Executive Director on the ZCCM-IH Board effective 17th April 2025. Bishop Mambo previously served as Non-Executive Director on the Board of ZCCM-IH from 13th December 2021 to the 12th December 2024.
Confidential Arbitration Proceedings between Trafigura Pte Limited (“Trafigura”) and ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”)
In compliance with the requirements of the Securities Act No 41 of 2016, as amended, and the Lusaka Securities Exchange (“LuSE“) Listings Requirements (the “Rules“), shareholders of
ZCCM-IH and members of the investing public are informed that, pursuant to a guarantee signed by ZCCM-IH’s then CEO in favour of Trafigura on 28 July 2021 (“Guarantee”), on 24 February 2024 Trafigura filed a request for arbitration against ZCCM-IH (as respondent) brought under the London Court of International Arbitration Rules 2020. These arbitration proceedings are strictly confidential as between the parties.
The Board of ZCCM Investment Holdings Plc (“ZCCM-IH” or “the Company”) wishes to advise shareholders and market participants that the company has entered into negotiations, which if
successfully concluded may have an effect on the Company’s securities.
Accordingly, shareholders are advised to exercise caution and to seek professional advice from a licensed investment advisor when dealing in the Company’s securities until a full announcement is made.
In compliance with Section 3.59 of the Lusaka Securities Exchange Listing Rules (“LuSE Rules”), ZCCM-IH wishes to inform shareholders that the tenure of appointment as Director of Mr. Bishop John Mambo as Non-Executive Director on the ZCCM-IH Board came to an end effective 12th December 2024.
Mr Bishop John Mambo was appointed on 13 December 2021. During his tenure, he served as Non-Executive Director of the Board and was a member of the Remuneration and Investments Committee.
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.
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.
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.
