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2 Apr 2020 16:02
ZCCM INVESTMENTS HOLDINGS PLC
[Incorporated in the Republic of Zambia]
Company registration number: 771
Share Code: ZCCM-IH
ISIN: ZM0000000037
["ZCCM-IH" or "the Company"]
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders of ZCCM Investments Holdings Plc ("ZCCM-IH" or "the Company") are referred to the announcement dated Tuesday, 23rd November 2018, which stated that two former employees of Ndola Lime Company Limited ("NLC"); an investee company of ZCCM-IH, applied to the High Court to place the company under supervision pursuant to the Corporate Insolvency Act No. 9 of 2017.
ZCCM-IH has commenced the process of restructuring the operations of NLC with a view to creating a business that will take over the running of the limestone operations sustainably. The restructuring process involves the transfer of the core assets of NLC to a newly formed limestone processing company, Limestone Resources Limted. Furthermore, in order to deal with the debt burden at NLC, all employees and creditors of the company will be paid off via an agreed settlement process approved by the Courts.
ZCCM-IH will provide details of the outcome of the restructuring process in due course.
In the meantime, Shareholders are advised to exercise caution when dealing in securities of the Company until a full announcement is made.
Issued in Lusaka, Zambia on Wednesday, 25th March 2020
T | +260-211-232456
E | advisory@sbz.com.zm
W | 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 | |
First Issued on Tuesday, 23rd November 2018 | |
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