| Wed 18 Nov 2015, 16:00 | | ZCI LIMITED - Updated Cautionary Announcement |
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ZCI 201511180044A
Updated Cautionary Announcement
ZCI Limited
(Bermudian registration number 661:1969)
(South African registration number 1970/000023/10)
JSE share code: ZCI
ISIN: BMG9887P1068
Euronext share code: BMG9887P1068
("ZCI" or "the Company" or “the Group”)
UPDATED CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement released by ZCI on 9 October
2015 wherein shareholders were advised of the funding requirements of the Group, and the
announcement released on 16 November regarding a provisional winding-up order granted by
the Botswana High Court following the application for the provisional liquidation of Messina
Copper (Botswana) Pty Ltd (“Messina”), the operating subsidiary of ZCI’s subsidiary, African
Copper Plc (“ACU”), brought by Diesel Power Mining (Pty) Ltd, Messina’s mining contractor,
heard on an urgent basis on 13 November 2015.
ACU currently has interest-bearing loans (including accrued interest) with ZCI totalling
US$104.6 million, excluding the existing convertible loan of a further US$7.4 million. As at the
date of this announcement, the board of directors of ZCI cannot reliably estimate the extent of
any potential proceeds arising as a result of the potential liquidation proceedings.
The Company will provide updates to stakeholders as and when further information becomes
available. Accordingly, shareholders are advised to exercise caution when dealing in ZCI
shares until such date as further information in relation to the above matter, including the full
financial impact thereof, has been made available.
18 November 2015
Bermuda
Sponsor: Bridge Capital Advisors (Proprietary) Limited
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