SENS
ANNOUNCEMENT
(the
"Notice" or "Announcement")
ZCCM INVESTMENTS HOLDINGS PLC
("ZCCM-IH")
[Incorporated in the Republic of Zambia]
Company registration number:
119540000771
Share Code:
ZCCM-IH
ISIN:
ZM0000000037
Authorised by:
Charles Mjumphi - Company Secretary
Stockbrokers Zambia
Limited
[Founder
Member of the Lusaka Securities Exchange]
[Regulated and licensed by the Securities and Exchange
Commission of Zambia]
Contact Person:
Victoria Kawonga
Contact
email:
vkawonga@sbz.com.zm
Contact Number:
+260 970508694
Website:
www.sbz.com.zm
The captioned Announcement has been
approved by:
i. the
Lusaka Securities Exchange ("LuSE")
ii. the Securities
and Exchange Commission of Zambia ("SEC")
iii. ZCCM Investment
Holdings Plc ("ZCCM-IH")
The 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:
05 September
2024
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"]
MARKET
ANNOUNCEMENT
MAAMBA ENERGY
LIMITED
300 MW PHASE II POWER PLANT
PROJECT
Shareholders are referred to the
announcement dated 10th July 2024 wherein the Board of
ZCCM Investments Holding Plc ("ZCCM-IH" or the "Company") informed shareholders and the
market that Maamba Energy Limited ("MEL"), formerly Maamba Collieries
Limited, had reached an agreement with anchor lenders regarding the
financing for the construction and installation of an additional
300-Megawatt power plant at MEL ("the Project"). It was further indicated
that the total estimated cost of the Project is USD 400 million, of
which approximately USD 300 million will be financed by a
consortium of lenders. ZCCM-IH will contribute USD 15 million
towards the debt portion in form of a loan that will have a tenor
of 10.25 years from construction start inclusive of a moratorium of
3.25 years. The interest rate will be nine per cent per
annum.
Furthermore, USD 100 million will be
provided in the form of equity by the Shareholders; Nava Bharat
Singapore Pte Limited ("NBS") and ZCCM-IH in proportion to their
respective shareholding in MEL of 65 per cent and 35 per cent
respectively. This means that NBS will contribute USD 65 million
and ZCCM-IH will contribute USD 35 million.
The Board wishes to confirm that the
terms extended to ZCCM-IH in this financing arrangement are similar
to those offered to independent lenders in the consortium thereby
ensuring fairness and transparency. Accordingly, the loan terms are
established on an arm's- length basis.
The Board of ZCCM-IH will update the
market on the progress of the development and construction process
in due course.
By
Order of the Board
Charles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 5 September
2024
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+260-211-232456
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advisory@sbz.com.zm
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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
05 September
2024
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