sur ZCCM (EPA:MLZAM)
ZCCM-IH Withdraws Cautionary on KCM Liquidation
ZCCM Investments Holdings Plc (ZCCM-IH) has formally withdrawn its petition for the winding up of Konkola Copper Mines PLC (KCM). The petition, initially filed on 21 May 2019, sought a provisional liquidation. The High Court of Zambia appointed Mr. Milingo Lungu as Provisional Liquidator, later replaced by Ms. Celina Mena Nair.
On 25 July 2024, ZCCM-IH sought to withdraw this petition, which was subsequently granted by the Court. This decision follows an earlier Court order from 28 June 2024, terminating the winding-up proceedings and vacating the Provisional Liquidator's appointment. The Board of KCM has been reinstated, and KCM is now classified as a going concern, with management control returned to Vedanta Resources, the majority shareholder.
Shareholders are no longer required to exercise caution in dealing with ZCCM-IH securities related to this matter.
R. H.
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