ZCCM Invs.Hldgs PLC ZCCM-IH Advance Loan to the IDC (9043R)

TIDMZCC

RNS Number : 9043R

ZCCM Invs.Hldgs PLC

19 June 2018

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 
   ii.    the Securities and Exchange Commission 
   iii.   Stockbrokers Zambia Limited

DISCLAIMER AND 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: 15 June 2018

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"]

ZCCM INVESTMENTS HOLDINGS PLC ADVANCE OF A LOAN TO THE INDUSTRIAL DEVELOPMENT CORPORATION LIMITED

   1.    INTRODUCTION

Industrial Development Corporation Limited ("IDC") is the majority shareholder in ZCCM Investments Holdings Plc ("ZCCM-IH"), holding 60.28% of the total issued share capital of ZCCM-IH.

IDC requested bridge financing from ZCCM-IH. The Board of ZCCM-IH considered and approved IDC's request on 29 March 2018. Therefore, ZCCM-IH has advanced a loan to IDC at commercial terms ("the Transaction").

   2.    TRANSACTION DETAILS

In line with the Listings Requirements of the Lusaka Securities Exchange ("LuSE"), this announcement sets out the major salient details of the Transaction, amongst others, as follows:

 
 
 Borrower:             Industrial Development Corporation Limited 
                        ("IDC") 
====================  ============================================== 
 Principle Amount:     USD 19,000,000.00. 
====================  ============================================== 
 Interest:             Interest accrued is payable at maturity 
                        of the facility agreement. 
====================  ============================================== 
 Maturity Date:        12 months from the date of issuance 
====================  ============================================== 
 Use of Proceeds:      The purpose of the loan is to secure 
                        financing for investments purposes. 
====================  ============================================== 
 Security:             360,937,534 ordinary shares in Zambia 
                        National Commercial Bank Plc ("ZANACO"). 
====================  ============================================== 
 Fair and Reasonable   The Independent Expert ("Expert") 
  Opinion on the        conducted an analysis on the terms 
  Transaction:          of the Transaction to ascertain the 
                        extent to which the terms of the Transaction 
                        are fair and reasonable as far as the 
                        minority shareholders of ZCCM-IH are 
                        concerned. The Expert has declared that 
                        the Transaction is Fair and Reasonable, 
                        and the fairness opinion will be available 
                        for inspection by shareholders at the 
                        ZCCM-IH offices for a period of 28 days 
                        from Friday, 15(th) June 2018. 
====================  ============================================== 
 
   3.    CATEGORISATION OF THE TRANSACTION

The nature of the Transaction is classified as a Small-Related-Party Category 2 Transaction and is not subject to regulatory and Shareholder approval according to Section 10.7 of the Lusaka Securities Exchange Listings Rules.

By Order of the Board

Chabby Chabala

Company Secretary

Issued in Lusaka, Zambia on Friday, 15(th) June 2018

 
 
   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 Friday, 15(th) June 2018

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 19, 2018 10:47 ET (14:47 GMT)

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