ZCCM Invs.Hldgs PLC Agreement (1431U)
28 Julio 2022 - 9:14AM
UK Regulatory
TIDMZCC
RNS Number : 1431U
ZCCM Invs.Hldgs PLC
28 July 2022
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: 28 July 2022
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"]
TRANSACTION ANNOUNCEMENT
The Board wishes to inform the shareholders and the market that
ZCCM Investments Holdings Plc ("ZCCM-IH" or "the Company"), has
agreed to provide a Corporate Guarantee to Indo Zambia Bank
("INDO") for the amount of USD 15 million (the "Transaction").
In line with the requirements of Section 9 and 10 of the Lusaka
Securities Exchange ("LuSE") Listings Requirements, the key
features of the Transaction are as follows:
Particulars of the The provision of USD15 million Corporate Guarantees
Transaction to INDO by ZCCM-IH for the provision of a Letter
of Credit and Overdraft facility to Mopani Copper
Mines Plc ("MCM").
Guaranteed Amount USD 15 Million
---------------------------------------------------------------
Other significant terms Provision of USD 15 million Corporate Guarantee
of the Transaction to INDO comprising:
* USD10 Million Letter of Credit; and
* USD5 Million Overdraft Facility.
---------------------------------------------------------------
Effective Date 12 July 2022
---------------------------------------------------------------
Rationale for the Transaction The support of ZCCM-IH to the operations of MCM
is critical at this juncture. MCM needs working
capital urgently in order to address the following
issues:
* Purchase of third-party concentrates; and
* Recurring working capital needs.
---------------------------------------------------------------
Shareholders are advised that the fairness opinion from an
independent financial advisor on the terms and conditions of the
facility will be made available for inspection once completed.
By Order of the Board
Chabby Chabala
COMPANY SECRETARY
Issued in Lusaka, Zambia on Thursday, 28 July 2022
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.
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First Issued on 28 July 2022
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END
AGRPPUGGMUPPGCR
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July 28, 2022 10:14 ET (14:14 GMT)
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