on ZCCM (EPA:MLZAM)
ZCCM-IH Faces Confidential Arbitration with Trafigura
ZCCM Investments Holdings Plc has announced further developments in its ongoing arbitration case with Trafigura Pte Limited. The proceedings arise from a guarantee signed by ZCCM-IH's former CEO in 2021, linked to a US$100 million prepayment agreement with Konkola Copper Mines Plc, where ZCCM-IH holds shares.
On 24 February 2024, Trafigura initiated the arbitration under the London Court of International Arbitration Rules 2020 after a demand for payment in November 2023. The proceedings are strictly confidential.
ZCCM-IH is vigorously challenging Trafigura's claims. The situation's outcome remains undecided and could significantly impact the company's share price. Investors are urged to exercise caution and seek professional advice regarding ZCCM-IH securities.
R. H.
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