ZCCM Invs.Hldgs PLC Settlement Agreement (9964C)
2013年4月23日 - 6:42PM
RNSを含む英国規制内ニュース (英語)
TIDMZCC
RNS Number : 9964C
ZCCM Invs.Hldgs PLC
23 April 2013
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"]
ANNOUNCEMENT
The market and shareholders are advised of the following new
developments relating to the Company.
PRICE PARTICIPATION SETTLEMENT AGREEMENT
WITH KONKOLA COPPER MINES PLC
ZCCM Investment Holdings Plc ("ZCCM-IH") and Konkola Copper
Mines ("KCM") announce that they have entered into an agreement
(the "Settlement Agreement") pursuant to which certain outstanding
payments owed by KCM to ZCCM-IH and certain other contingent
amounts payable, in each case, under existing price participation
arrangements (the "Price Participation Agreements") which date back
to March 2000 have been settled on the terms summarised below
Concurrently with the entry into the Settlement Agreement on 11
February 2013, the Price Participation Agreements dated 31 March
2000 were terminated.
The Price Participation Agreements were put in place at the time
of the privatisation of Zambia's copper mining industry as part of
the consideration and were designed to allow ZCCM-IH to benefit
from an increase in the price of copper over the long term.
Due to the complex mechanics for calculating the amount due and
payable under the Price Participation Agreements and the contingent
nature of payments likely to arise in the remaining life of the
Price Participation Agreements, the parties have worked to put in
place a new agreement with an unconditional and clear payment
plan.
Under the Settlement Agreement, US$46,324,655 is required to be
paid by KCM (via installments) to ZCCM-IH on or before 31 August
2013, and a further US$73,420,000 (via installments) on or before
30 September 2016.
The total amount payable under the Settlement Agreement remains
broadly unchanged (in dollar amount terms) from the amounts that
were due and would likely have become payable under the Price
Participation Agreements over time. However, ZCCM-IH considers the
increased certainty of the payment obligations as additional
cash-flow benefits that will assist ZCCM-IH in its day-to-day
business operations and future investment plans.
Contact
For further information, please contact:
Mr. Chabby Chabala,
Company Secretary
Telephone: + 260 211 221023 / 220540
Email: cchabala@zccm-ih.com.zm
08 April 2013
Lusaka - Zambia
Sponsoring Broker
STOCKBROKERS ZAMBIA LIMITED
[MEMBER OF THE LuSE and REGULATED BY THE SECURITIES AND EXCHANGE
COMMISSION OF ZAMBIA]
FIRST ISSUED on 08 April 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEANLDADKDEEF
Zccm Investments (LSE:ZCC)
過去 株価チャート
から 6 2024 まで 7 2024
Zccm Investments (LSE:ZCC)
過去 株価チャート
から 7 2023 まで 7 2024