ZCI - ZCI - Completion of call option and withdraw
ZCI
ZAKK
ZCI - ZCI - Completion of call option and withdrawal of cautionary announcement
Zambia Copper Investments Limited
(Registered in Bermuda)
JSE code: ZCI
ISIN: BMG988431240
("ZCI")
COMPLETION OF CALL OPTION AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement released on SENS on 28 March 2008 the
directors of ZCI wish to inform shareholders that the issues delaying the
completion of the transaction related to the receipt of authorization of the
transaction from the Zambian Competition Commission ("ZCC"), have now been
resolved and Vedanta Resources Plc ("Vedanta") has made payment of the call
option price together with certain interest thereon, to ZCI. ZCI has, in turn,
provided Vedanta with the requisite documentation to effect transfer of the
remaining 28.4% of Konkola Copper Mines plc ("KCM") shares held by ZCI through
its wholly owned subsidiary, ZCI Holdings S.A.
Shareholders are advised that the Government of the Republic of Zambia invoked
section 3f of the Zambian Competition and Fair Trading Act, which effectively
removes this transaction from the jurisdiction of the ZCC. ZCI`s Zambian counsel
has subsequently confirmed to the satisfaction of the Board that the parties may
proceed to completion without further recourse to ZCC.
As the transaction has now been completed, caution is no longer required to be
exercised by shareholders when dealing in their securities.
The directors are presently examining the options for the future of the Company
and will shortly present shareholders with these proposals in order to involve
all stakeholders in this process.
Bermuda
10 April 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/04/2008 15:13:55 Produced by the JSE SENS Department.
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