During the year, two former employees of NLC made an application to initiate Business Rescue Plan proceedings against the Company. An Interim Business Rescue Administrator
was appointed to run the affairs of NLC.
ZCCM-IH made an application in court challenging whether NLC qualifies to be put under Business Rescue Operations. The matter is still undergoing a court process.
Ndola Lime Company Limited (NLC) reported total revenues for the financial year ended 31st March 2019 of ZMW74.3 million (2018: ZMW60.1 million) and a loss after tax of ZMW234 million (2018: ZMW 187 million loss).
There were no dividends declared during the year under review (2018: Nil)