16 Dec 2019 07:00
SENS ANNOUNCEMENT
(the "Notice" or "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
[Incorporated in the Republic of Zambia]
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037
Authorised by: Chabby Chabala - Company Secretary
SPONSOR
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
APPROVAL
The captioned Notice or Announcement has been approved by:
i. the Lusaka Securities Exchange ("LuSE")
ii. the Securities and Exchange Commission ("SEC")
iii. Stockbrokers Zambia Limited ("SBZ")
RISK WARNING
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: 13 December 2019
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"]
TRADING STATEMENT
In accordance with Section 3.4(b) Lusaka Securities Exchange ("LuSE") Listings Requirements, the Board of Directors of ZCCM-Investments Holdings Plc (the "Company" or "ZCCM-IH") hereby advises the Shareholders of the Company that the Earnings Per Share ("EPS") for the Audited Group and Company financial year ended 31 March 2019 is expected to be approximately 47% and 125% respectively, lower than the financial year ended 31 March 2018.
The movement in EPS for both Group and Company is primarily attributed to the reduction in other income of ZMW360 million due to a once off income reported last year relating to the Konkola Copper Mines Plc price participation receivable. In addition, the Group and Company recorded an impairment of receivables amounting to ZMW 205 million and ZMW 373 million respectively, following the implementation of International Financial Reporting Standard 9 (IFRS 9): Financial Instrument, and a further fair value loss of ZMW 336 million was recognised on two of the investee companies.
Shareholders are advised that the information contained in this trading statement has not been reviewed or reported on by the external auditors of the Company.
The Company expects its Audited Abridged Financial Results for year ended 31 March 2019 to be released on the Securities Exchange News Services ("SENS") and published in the local press on or about 16th December 2019. Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until publication of the results.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on Friday, 13th December 2019
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 member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia |
First Issued on 13 December 2019 | |
Zccm Inv.hds.b (ZCC)