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ZCCM Investments Holdings Plc (ZCCM-IH) announced on June 26, 2025, that it was joined on June 20, 2025, as a party to a Constitutional Court matter. Honourable Miles Bwalya Sampa commenced the petition against the Attorney General of the Republic of Zambia, challenging the 2024 transaction involving Mopani Copper Mines Plc and International Resources Holdings on constitutional grounds. The petition contends the transaction, executed when MCM was wholly owned by ZCCM-IH, required prior parliamentary approval under Article 210 of the Constitution and seeks its nullification.
| Date | 26 Jun 2025 |
| Time | 14:27:42 |
| Category | Capital structure |
| ID | 6146O |
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
Authorized by: Charles Mjumphi - 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. ZCCM Investment Holdings Plc ("ZCCM-IH")
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: 26 June 2025
[Incorporated in the Republic of Zambia]
Company registration number: 771
Share Code: ZCCM-IH
ISIN: ZM0000000037
["ZCCM-IH" or "the Company"]
CAUTIONARY ANNOUNCEMENT
In accordance with the Lusaka Securities Exchange (the "LuSE") Listings Requirements (the "Rules"), ZCCM Investments Holdings Plc ("ZCCM-IH" or "the Company") wishes to inform its shareholders and the general public that, on 20 June 2025, it was joined as a party to a Constitutional Court matter commenced by Honourable. Miles Bwalya Sampa ("the Petitioner") against the Attorney General of the Republic of Zambia ("the Respondent").
The Petition challenges the 2024 transaction involving Mopani Copper Mines Plc ("MCM") and International Resources Holdings ("IRH") on constitutional grounds. Specifically, the Petitioner contends that the transaction, executed when MCM was wholly owned by ZCCM-IH, a state-controlled entity, amounts to a disposal of a significant state asset and, as such, should have been subjected to prior approval by Parliament in accordance with Article 210 of the Constitution of Zambia (Amendment) Act No. 2 of 2016.
Among the reliefs sought, the Petitioner requests a declaration that the transaction is unconstitutional, null, and void, and seeks an order to nullify the transaction on the grounds of non-compliance with the Constitution. The Petition further argues that the form of the transaction, presented as a subscription of shares, should not override its substantive effect, which allegedly amounts to a sale or disposal of a state asset.
ZCCM-IH has been added as a party to the proceedings for purposes of responding to the claims raised. The Company will provide further updates as the matter progresses, in line with its continuous disclosure obligations.
Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made.
By Order of the Board
Charles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 26 June 2025
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T | +260-211-232456
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 26 June 2025
