ZCI LIMITED - Renewal of Cautionary Announcement

Renewal of Cautionary Announcement

ZCI Limited
(Bermudian registration number 661:1969)
(South African registration number 1970/000023/10)
JSE share code: ZCI
ISIN: BMG9887P1068
Euronext share code: BMG9887P1068
("ZCI" or "the Company")

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the previous cautionary and renewal of cautionary announcements released by
ZCI in connection with the liquidation of each of Messina Copper (Botswana) Proprietary Limited (in
Liquidation) (“Messina”) and African Copper Plc (in Liquidation) (“ACU”). Shareholders are in particular
referred to the announcement released by ZCI on 20 December 2016 wherein shareholders were advised
that the liquidator of Messina accepted an amended offer in respect of the disposal of the assets of Messina
(the “Amended Offer”) and that, subject to satisfaction of all suspensive conditions to the Amended Offer,
ZCI will receive a cash distribution, an unsecured shareholders loan in favour of ZCI by Leboam and an
equity interest in favour of ZCI in Leboam.

Shareholders are advised that, subject to meeting all suspensive conditions to the Amended Offer and a
successful fundraising by Leboam, the date on which the cash consideration as per the terms of the
Amended Offer must be paid by Leboam, and by which date ZCI will receive a cash distribution, an
unsecured shareholders loan in favour of ZCI by Leboam, and an equity interest in favour of ZCI in Leboam,
has been extended to occur by no later than 30 September 2017.

As at the date of this announcement, the board of directors of ZCI cannot reliably estimate the extent of any
potential proceeds arising as a result of the aforementioned liquidation proceedings.

The Company will provide updates to stakeholders as and when further information becomes available.
Accordingly, shareholders are advised to exercise caution when dealing in ZCI shares until such date as
further information in relation to the above matters, including the full financial impact thereof, has been made
available.

As a result of the events explained above, the board of directors of ZCI is still currently not able to provide a
date on which the suspension of trading, in securities of ZCI, is expected to be lifted as is required in terms of
Section 1.10(c) of the JSE Limited Listings Requirements.

Bermuda
31 May 2017

Sponsor: Bridge Capital Advisors Proprietary Limited

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