ZCI - ZCI Limited - Additional loan facility between ZCI and African Copper Plc

ZCI - ZCI Limited - Additional loan facility between ZCI and African Copper Plc 
("ACU")                                                                         
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")                                                        
ADDITIONAL LOAN FACILITY BETWEEN ZCI AND AFRICAN COPPER PLC ("ACU")             
ZCI is pleased to announce that it has entered into an agreement to grant an    
additional loan of USD6.0 million to its subsidiary, ACU. The purpose of the new
loan is to provide ACU with further working capital for its Mowana Mine         
facilities, partially to cover the funding gap caused by the failure of the Ball
Mill pinion shaft as announced on SENS in May 2012. This has impacted working   
capital since normal payables were incurred in May 2012 but revenues were       
significantly reduced. The Mowana plant resumed operations on 5 June 2012 after 
the successful replacement of the pinion shaft, mill gearbox and liners. Daily  
production is progressively increasing and management is looking to exceed the  
record production level of 809 Mt of copper in concentrate that was realised in 
March 2012. The new USD6.0 million convertible loan from ZCI is a secured loan  
facility with a simple interest rate of 7 percent, repayable on 31 March 2014   
(the "Facility"). Interest will be accrued annually and interest payments       
deferred until 31 March 2014. The Facility is convertible into ordinary shares  
of 1p each in ACU at a conversion price of 2.40p per share equivalent to the 60 
day volume weighted average closing share price of ACU on the AIM Market of the 
London Stock Exchange.                                                          
The maximum aggregate number of new ordinary shares which may be issued pursuant
to the conversion rights attaching to the Facility is 163,036,390 new ordinary  
shares, which would, were the Facility to be converted in full, increase ZCI`s  
interest in the enlarged issued share capital of ACU from 84.19 percent to 91.09
per cent. assuming the existing ZCI USD8.4 million convertible loan facility was
also converted. The terms and conditions of the Facility are on substantially   
similar terms to the previous term loans from ZCI and bring ACU`s total interest
bearing loans (including accrued interest at 31 March 2012) from ZCI to USD71.78
million, excluding the existing convertible loan of USD8.4 million and the      
Facility of USD6.0 million.                                                     
For further information please visit www.africancopper.com                      
Bermuda                                                                         
8 June 2012                                                                     
Sponsor: Bridge Capital Advisors (Pty) Limited                                  
Date: 08/06/2012 09:00:03 Supplied by www.sharenet.co.za                     
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