In line with the requirements of Section 9 and 10 of the Lusaka Securities Exchange Listings Requirements, the key features of the Transaction are as follows.
Particulars of the Transaction
The provision of USD15 million Corporate Guarantee to Ecobank by ZCCM-IH for the provision of recurring working capital requirements and to meet recurring payment obligations to various suppliers of copper concentrate and key production materials to Mopani Copper Mines Plc (“MCM”).
Guaranteed Amount
USD15 million
Other significant terms of the Transaction
Provision of USD15 million Corporate Guarantee to Ecobank valid until 12 months from date of issue
Effective Date
4th November 2022
The rationale of the Transaction
The support of ZCCM-IH to the operations of MCM is quite critical at this juncture. MCM needs working capital urgently in order to meet recurring payment obligations to various suppliers of copper concentrate and key production materials
Shareholders are advised to exercise caution when dealing in the Company’s securities.
