on ZCCM (EPA:MLZAM)
ZCCM-IH Faces Confidential Arbitration with Trafigura
ZCCM Investments Holdings Plc (ZCCM-IH) has issued an update regarding ongoing arbitration proceedings with Trafigura Pte Limited. This arises from a guarantee signed by ZCCM-IH's former CEO favoring Trafigura on July 28, 2021.
The proceedings, initiated on February 24, 2024, by Trafigura under the London Court of International Arbitration Rules, follow a demand for payment linked to a US$100 million prepayment deal with Konkola Copper Mines Plc, a company to which ZCCM-IH has financial ties. ZCCM-IH is vigorously contesting the claim.
The case remains unresolved and may influence the company’s share price. Shareholders and potential investors are urged to exercise caution and seek professional advice when dealing with ZCCM-IH securities pending further updates.
R. H.
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