on ZCCM (EPA:MLZAM)
ZCCM-IH Updates on Arbitration Proceedings with Trafigura
ZCCM Investments Holdings Plc (ZCCM-IH) issues an update on ongoing arbitration proceedings with Trafigura Pte Limited. Originating under the London Court of International Arbitration Rules 2020, these proceedings commenced in February 2024. The Tribunal has recently released a Partial Final Award, confirming that the guarantee dated 28 July 2021 is binding on ZCCM-IH.
The Tribunal requires ZCCM-IH to specify any unsustainable elements of the USD 82,807,254.68 claimed by Trafigura, with submissions due within six weeks. Trafigura is expected to respond within three weeks. A hearing on the matters of quantum will follow.
ZCCM-IH is assessing its legal options regarding the Partial Award. Shareholders and investors are urged to exercise caution when dealing in ZCCM-IH securities until further notice.
R. P.
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