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Investegate |ZCCM Invs Hldgs PLC Announcements | ZCCM Invs Hldgs PLC: Announcement re: Further Cautionary
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ZCCM: Renewal_FURTHER CAUTIONARY ANNOUNCEMENT_ KHL_ARBITRATION UPDATE_23June2021
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ZCCM: FURTHER CAUTIONARY ANNOUNCEMENT KHL ARBITRATION UPDATE.
[Incorporated in the Republic of Zambia]
Company registration number: 771
SPONSOR
[Regulated and licensed by the Securities and Exchange Commission of Zambia]
Contact Person: Natasha Nelson
the Lusaka Securities Exchange ( LuSE )
the Securities and Exchange Commission ( SEC )
Stockbrokers Zambia Limited ( SBZ )
RISK WARNING
The Notice or Announcement contained herein contains information that may be of a price sensitive nature.
Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.
ISSUED: 23 February 2021
Company registration number: 771
FURTHER CAUTIONARY ANNOUNCEMENT
Investegate |ZCCM Invs Hldgs PLC Announcements | ZCCM Invs Hldgs PLC: Further Cautionary Announcement
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1.
The Minority Shareholders of ZCCM-IH had noted the following facts presented in the press : – December 12, 2019 : “First Quantum Minerals (FQM) directors have been accused of misappropriating $520 million by fraudulently diverting it to a sister company. Investigations are still at the initial stage but basic facts are that, on 26 August 2019, First Quantum directors acting together with their appointed directors in Kansanshi Mining Plc transferred $520 million USD belonging to Kansanshi Mine to a sister company, without following laid down procedures and without the approval of the Kansanshi mining PLC Board.
The suspects have been named as Philip PASCALL, Arthur PASCALL, Clive NEWALL, Rudi BANDENHORST, Hannes MEYER, LAMASWALA, Chisanga CHEKWE and Dr Godwin BEENE.