ZCCM-IH pays USD$5million dividend to NAPSA and Ministry of Finance

Minister of Finance, Honorable Margaret Mwanakatwe has since called on state owned enterprises (SOEs) to improve their operations and to pay dividends to the government. She was speaking when she received a cheque of K3.6million from Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) to its major shareholder National NAPSA and the Ministry of Finance. Mrs. Mwanakatwe said that the dividends will help government meet some of its financial obligations.

Earlier ZCCMIH Chief Executive Officer Dr Pius Kasolo said K20.3million has been paid to NAPSA representing 15% shareholding while K23.3million has been availed to the Ministry of Finance. Dr. Kasolo said ZCCMIH will continue to pay dividends to the government as a way of contributing to the growth of the economy. NAPSA Board chairperson Marian Munyima said dividends will help the authority to grow its investment portfolio which now stands at K25billion.

“We have had some tough challenges with our partners but things have been sorted and we appreciate the support that the Minister has given ZCCM -IH and in terms of the way forward, my team and I are hoping that things will only get better through the copper prices going up and the economy price going up. We hope that most of the mining companies will be involved in these situations, so that they can also declare dividends accordingly,” Dr. Pius Kasolo said.

“It’s pleasing that a company grows it’s profit after tax by 125% coming from a loss of K2.2billion to a profit of K728million, that is not a small achievement and I want to encourage you to count on my support in ensuring that you can continue to bring about these dividends because you are working in a sector that is the largest part of this economy. And when we do not see dividends, we wonder why you are still a shareholder in these mining companies,” Mwanakatwe said.

“We are working in close co-operation with the executive management to oversee all investments, ensuring that they are in accordance with investment protocols and requirements. We have even gained support from the government to which we are grateful that they provided an environment to which we can execute our mandate and ensure that we continue to report positive gains on the fund as can be evidenced by the growth of the investment portfolio which now stands at K25billion and we expect it to end the year 2018 at K27billion,” NAPSA Board Chairperson Marian Munyinda said.

Zambia’s Head of State earlier issued a directive to the Industrial Development Corporation to work towards having all stated owned parastatals listed on the local bourse.

Lusaka Securities Exchange – LuSE listed ZCCM-IH is a state owned mining investment vehicle that manages the states stake in mining companies in Africa’s second largest copper producer, Zambia. As at 2pm ZCCM-IH shares were trading for K38 per share.


Source: Zambia Business Times

ZCCM-IH | Cautionary Announcement

Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) are advised that the Company is in discussions with the appointed Receiver for Kapairi Glass Manufacturing Limited (“KGM”) which discussions if successfully concluded, may have a material effect on the price of the Company’s securities. ZCCM-IH has expressed interest in the possibility of purchasing the assets belonging to KGM which has been in receivership since 26 July 2017. KGM was established with the aim of manufacturing container glass products.

ZCCM-IH will provide details of these discussions in due course.

In the meantime, Shareholders are advised to exercise caution when dealing in securities of the Company until a full announcement is made.

Issued in Lusaka, Zambia on Wednesday, 25th July 2018

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First Issued on Wednesday, 25th July 2018

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ZCCM-IH | New partnership in two onshore Zambian oil blocks

ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) is delighted to announce that the Company has been granted two onshore Oil and Gas exploration licenses by the Ministry of Mines and Minerals Development of Zambia (“MoMMD”). The two licensed oil blocks are situated in the Western and Muchinga provinces of Zambia. The granting of this license by the MoMMD is in line with ZCCM-IH’s strategy to undertake mining related diversification particularly in the energy sector.

In order to undertake exploration works on the license area, ZCCM-IH has partnered with Oranto Petroleum (“Oranto”) a Nigerian based and the largest privately-owned oil exploration and production company in Africa. Oranto will own a 90% stake in this project while ZCCM-IH will retain 10%. Oranto will provide funding and technical support for the project. The technical support will include the provision of training to ZCCM-IH Technical Staff in oil and gas exploration and production.

Dr P C Kasolo
Chief Executive Officer
Issued in Lusaka, Zambia on Tuesday, 10th July 2018

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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 Tuesday, 10th July 2018

ZCCM-IH | Notice of payment of final dividend

At the Annual General Meeting held on 29 June 2018 at Southern Sun Hotel, Lusaka, the Shareholders approved a Final Dividend of K 0.84 per share for the period ended 31 March 2017.

In accordance with the requirements of the Securities Act No. 41 of 2016 and the Listings Rules of the Lusaka Securities Exchange (“LuSE”), Notice is hereby given that the dividend shall be payable to shareholders in the Company’s books as at close of business on Friday, 27 July 2018 (“Record Date”).

Dividend payments will be effected from Monday, 30 July 2018. Shareholders are advised to take note of the following dates applicable to the Stock Exchange on which their shares are listed and traded.

Shareholders on the LuSE and London Stock Exchange
The transfer books and register will be closed from Wednesday, 25 July to Friday, 27 July 2018 both days inclusive.
The last day to trade to be eligible to receive the dividend is Tuesday 24 July.

Shareholders on the Paris Marché Libre
The transfer books and register will be closed from Thursday, 26 July to Friday, 27 July 2018 both days inclusive.

By Order of the Board
Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on Friday 29 June 2018

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First Issued on 29 June 2018