In accordance with Section 3.4(b) of the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM Investments Holdings (“ZCCM-IH” or “the Company”) and its subsidiaries (collectively, “the Group”) wishes to inform shareholders that the Earnings per Share (EPS) for the half year ended 30 June 2024 is expected to exceed that of the half year ended 30 June 2023 by 2396%.
Based on the financial results the Group’s Earnings Per Share (EPS) stood at ZMW344.05, compared to negative ZMW 14.98 Earnings Per Share in the same period of 2023. This improvement is largely driven by a one-time gain of ZMW 42.3 billion (US$1.66 billion) following the successful Strategic Equity Partnership (SEP) with International Resources Holding RSC Ltd (“IRH”). Through its subsidiary, Delta Mining Limited, IRH invested USD1.1 billion for a 51% ownership in Mopani Copper Mines Plc. Furthermore, the settlement of USD 1.7 billion in Glencore/Carlisa loans under the Amendment, Restatement, and Consolidation Agreement (ARCA) boosted the valuation of the Mopani asset, contributing to the Group’s EPS growth.