Zambia Copper Investments Limited - Delay in publi
Zambia Copper Investments Limited - Delay in publication of 2004 financial
statements
Zambia Copper Investments Limited
(Registered in Bermuda)
JSE code: ZCI
ISIN: BMG988431240
(`ZCI` or `the Company`)
DELAY IN PUBLICATION OF 2004 FINANCIAL STATEMENTS
As shareholders are aware, ZCI`s listing is currently suspended due to the delay
in the production of the Company`s accounts for the period ended 31 December
2004. The directors of ZCI wish to inform shareholders that the audit of the
2004 accounts is approaching finalisation but was recently unexpectedly delayed
by a late audit query raised by the Company`s auditors on the 2004 accounts of
Konkola Copper Mines plc (`KCM`). This query was referred back to KCM for
resolution in conjunction with KCM`s auditors on Monday 11 July 2005.
Regrettably, labour disturbances at the mine over the past week have delayed
clarification of this point, which the directors believe to be the last issue
requiring KCM`s attention prior to finalisation of ZCI`s 2004 financial
statements and the audit thereof.
Shareholders are further advised that the delay in publication of the Company`s
2004 financial statements has necessitated that the Company`s AGM will now be
held on a date exceeding the maximum of 15 months since the previous AGM, as is
prescribed in the Company`s Bye-Laws. The directors are in the process of
applying for an extension of this 15-month period in terms of the provisions of
Bermudian company law, in order to ensure that a minimum of 21 clear day`s
notice of the Company`s AGM is provided to shareholders.
Bermuda
18 July 2005
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/07/2005 05:34:32 PM
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