There were 2 Stock Exchange News Services (SENS) announcements in week 31 on the LuSE: 1 Madison Financial Services PLC (MFS) and 1 ZCCM Investments Holdings Plc (ZCCM-IH).
MFS: FURTHER CAUTIONARY RENEWAL
Shareholders are referred to the First Cautionary Announcement issued on 3April 2020 and the subsequent Further Cautionary Announcements wherein the Board of Directors of Madison Financial Services PLC (“the Board”) (“MFS” or “the Company” or “the Group”) informed the shareholders and the market that the Board and Management of MFS have a general mandate to explore and identify specific assets that would be earmarked and considered for disposal by the Company to raise capital to meet some of the Group’s liabilities.
ZCCM-IH: MOPANI COPPER MINES PLC SUMMARISED STATEMENT ON RESERVES AND RESOURCES
The shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”), as well as other market participants, are referred to the circular dated 9 March 2021 sent to shareholders giving full details on the Acquisition of Mopani Copper Mines PLC (“Mopani”) by ZCCM-IH (the “Transaction”).
The Board of Directors of ZCCM-IH (the “Board”) informed shareholders that the Company requested SRK Consulting (UK) Ltd (“SRK”) to undertake a technical review of the mining, processing, smelting, and refining Assets (the “Assets”) of Mopani and prepare a Competent Persons Report (“CPR”) that meets the requirements set out in Section 12 of the Listings Requirements of the Lusaka Securities Exchange (“LuSE).
Accordingly, the Board wishes to inform the market and the shareholders of ZCCM-IH that the CPR has been finalised and the summarised results following the exercise undertaken by SRK of inspecting the reserves and resources of Mopani.