ZCI
ZAKK
ZCI - Zambia Copper Investments Limited - Further Cautionary Announcement
Zambia Copper Investments Limited
(Registered in Bermuda)
JSE code: ZCI
ISIN: BMG988431240
("ZCI")
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcements released on SENS between 2 September
2005 and 22 June 2007, the directors of ZCI wish to inform shareholders that
the award in the arbitration proceedings between ZCI and Vedanta Resources
Plc ("Vedanta") relating to the interpretation of the Vedanta Call Option
Deed ("the call option") has now been received.
The arbitrator determined that the 28.4% of Konkola Copper Mines Plc held by
ZCI through its wholly owned subsidiary, ZCI Holdings S.A (the "interest") is
to be valued as at the date on which the call option was exercised by
Vedanta, namely 12 August 2005.
The parties are now in the process of finalizing the independent investment
bank`s terms of engagement to enable it to commence with the valuation of the
interest.
Pending the completion of the valuation of the interest, Vedanta will then
have the opportunity to purchase the interest. Until such time ZCI Holdings
S.A. remains the beneficial owner of the interest and the right to dividends.
ZCI shareholders are advised to continue exercising caution when dealing in
ZCI`s shares until a further announcement is made.
Bermuda
17 July 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/07/2007 12:10:01 Produced by the JSE SENS Department.
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