Zambia Copper Investments Limited - Results Of Annual General Meeting
Zambia Copper Investments Limited
(Registered in Bermuda)
("ZCI")
JSE code: ZCI
ISIN: BMG988431240
RESULTS OF ANNUAL GENERAL MEETING
The Board of ZCI is pleased to announce that all resolutions in the notice of
the Annual General Meeting dated 23 March 2004 were passed by the requisite
number of shareholders at the Annual General Meeting held yesterday.
It was noted that the improved copper price environment was having a positive
effect on the outlook for the current financial year, which would be enhanced
further by an expected increase in production of finished copper compared with
2003.
In addition, Chairman Barrie Ireton reported that negotiations with Vedanta
Resources plc, the preferred bidder as a strategic equity partner in Konkola
Copper Mines plc ("KCM"), were progressing satisfactorily and hopefully would be
concluded in the near future. He added that, assuming there is a successful
conclusion to the negotiations regarding KCM, the Board of ZCI will issue a
circular to all registered shareholders of the company, in both English and
French, explaining the detailed terms of the proposed transaction together with
an opinion by an independent adviser as to the fairness and reasonableness of
the terms and conditions of the proposed transaction.
The acceptance of any terms reached in negotiation will then be voted upon by
registered shareholders at an Extraordinary General Meeting convened for this
purpose.
It has become apparent that due to inherent technicalities in the French
Shareholding system, a number of shareholders are unclear as to how they can
ensure the exercise of their rights as shareholders. The ZCI Board undertook to
take appropriate steps to clarify this matter and in the near future a detailed
notice will be posted on the ZCI website. (www.zci.lu)
Bermuda
06 May 2004
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 06/05/2004 05:43:54 PM Produced by the JSE SENS Department
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