SENS
ANNOUNCEMENT
(the
"Notice" or "Announcement")
ZCCM INVESTMENTS HOLDINGS PLC
("ZCCM-IH")
[Incorporated in the Republic of Zambia]
Company registration number:
119540000771
Share Code:
ZCCM-IH
ISIN:
ZM0000000037
Authorised by:
Charles Mjumphi - Company Secretary
Stockbrokers Zambia
Limited
[Founder
Member of the Lusaka Securities Exchange]
[Regulated and licensed by the Securities and Exchange
Commission of Zambia]
Contact
Number:
+260-211-232456
Website:
www.sbz.com.zm
The captioned Notice or Announcement
has been approved by:
i. The
Lusaka Securities Exchange ("LuSE")
ii. The Securities
and Exchange Commission ("SEC")
iii. ZCCM-IH Investments Holdings Plc ("ZCCM-IH")
The Notice or Announcement contained
herein contains information that may be of a price sensitive
nature.
Investors are advised to seek the
advice of their investment advisor, stockbroker, or any
professional duly licensed by the Securities and Exchange
Commission of Zambia to provide securities advice.
ISSUED: 23 February
2024
ZCCM INVESTMENTS HOLDINGS
PLC
[Incorporated in the Republic of Zambia]
Company
registration number: 119540000771
Share
Code: ZCCM-IH
ISIN:
ZM0000000037
["ZCCM-IH" or the "Company"]
RESULTS OF RESOLUTIONS PASSED
AT THE EXTRAORDINARY GENERAL MEETING OF ZCCM INVESTMENTS HOLDINGS
PLC
1.0 Introduction
Shareholders are referred to the
announcements ZCCM-IH released on the Stock Exchange News Service
("SENS") of the Lusaka Securities Exchange ("LUSE") on
10th November 2023, 30 November 2023, 22 December 2023
and 1 February 2024 regarding the up to US$1.1 billion capital
investment by International Resources Holding RSC Ltd, through its
wholly-owned subsidiary, Delta Mining Limited, for a 51% interest
in Mopani Copper Mines plc and the formation of a strategic
partnership with ZCCM-IH. The investment will comprise US$620
million in new equity capital, up to US$100 million in settlement
of existing third-party letters of credit and up to US$380 million
of shareholder loans ("the Transaction"). The Company distributed a
Transaction circular (the "Circular") on 2 February 2024
incorporating a notice of Extraordinary General Meeting ("EGM") to
consider the Transaction. The Board of Directors of ZCCM-IH ("the
Board") is pleased to provide a further update in relation to the
Transaction.
2.0
Results of the General Meeting
At the EGM of ZCCM-IH held on
23rd February 2024 and held at
Mulungushi International Conference Centre, Lusaka,
Zambia, shareholders of ZCCM-IH
("Shareholders") considered the resolutions proposed at the EGM as
set out below:
THAT the Transaction be and is
hereby approved and:
a)
the directors of the Company (the
"Directors") be and are
hereby authorised to do and procure to be done all such acts and
things as they consider necessary, expedient or appropriate in
connection with the Transaction and to give effect to or implement
the Transaction and this resolution (including for the purpose of
obtaining any approval, consent, clearance or permission that is a
condition to the Transaction or that the Directors consider
necessary or expedient);
b)
the Directors be and are hereby authorised
to agree such modifications, variations, revisions, waivers or
amendments to the terms and conditions of the Transaction (provided
that such modifications, variations, revisions, waivers or
amendments are not of a material nature), to any documents, and
arrangements relating thereto, as the directors may, in their
absolute discretion think fit; and
c)
that any and all conduct of each of the
Directors that amounts to a breach of the Articles resulting from,
arising out of or in relation to causing ZCCM-IH to enter into the
Transaction and Transaction Agreements be and is hereby ratified
and confirmed and ZCCM-IH hereby unconditionally and irrevocably
waives, releases and discharges any and all claims or rights of
action that it may have against each of the Directors resulting
from, arising out of or in relation to the same.
The proposed resolutions were
approved by the Shareholders.
Accordingly, shareholders are
advised to continue to exercise caution when dealing in the
Company's securities until the completion of the
Transaction.
By
Order of the Board
Charles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 23 February
2024
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+260-211-232456
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advisory@sbz.com.zm
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www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka
Securities Exchange and is regulated by the Securities and Exchange
Commission of Zambia.
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First Issued on
23 February
2024