ZCI - Zambia Copper Investments - Update On Call Option And Further
ZCI
ZAKK
ZCI - Zambia Copper Investments - Update On Call Option And Further
Cautionary Announcement
Zambia Copper Investments Limited
(Registered in Bermuda)
JSE code: ZCI
ISIN: BMG988431240
("ZCI")
UPDATE ON CALL OPTION AND FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcements released on SENS between 2 September
2005 and 9 January 2008, the directors of ZCI wish to inform shareholders that
the independent investment bank`s valuation of the 28.4% of Konkola Copper Mines
plc ("KCM") shares held by ZCI through its wholly owned subsidiary, ZCI Holdings
S.A., has now been received.
The Bank has valued ZCI`s investment in KCM at USD 213.15 million as at 12
August 2005. A detailed summary of the bank`s valuation report will be made
available to shareholders shortly on ZCI`s website: www.zci.lu.
Vedanta Resources Plc ("Vedanta") now has a reasonable period within which to
accept or reject the valuation price as determined by the Bank. Shareholders are
reminded that in the event that Vedanta Resources Plc ("Vedanta") is unwilling
to pay the option exercise price as determined by the Bank, it shall not be
required to proceed with the associated purchase of ZCI`s KCM shares. In terms
of the provisions of the call option deed, ZCI shall be bound to accept the
valuation made by the Bank.
ZCI shareholders are advised to continue exercising caution when dealing in
ZCI`s shares until Vedanta`s decision regarding their acceptance or otherwise of
the option price has been delivered to ZCI and a consequent announcement is
released by ZCI.
Trading in ZCI securities will be halted until further notice.
Bermuda
17 January 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/01/2008 15:50:44 Produced by the JSE SENS Department.
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