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ZCI LIMITED - Update of Interim Reporting and Cautionary Announcement

Release Date: 30/12/2013 09:00
Code(s): ZCI     PDF:  
Wrap Text
Update of Interim Reporting and 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")


UPDATE ON INTERIM REPORTING AND CAUTIONARY ANNOUNCEMENT


Shareholders are advised that African Copper plc (AIM: ACU, Botswana: African Copper) (“ACU”), in which ZCI holds a
controlling interest, today announces its financial and operating results for the six months ended 30 September 2013 (the
“Period”). For the Period, ACU reported revenues of US$29.7 million, an operating profit of US$2.2 million before a US$25
million non-cash accounting charge for the impairment of the group’s main project, the copper-producing open pits at the
Mowana pit, Thakadu pit, and the Mowana plant (collectively referred to as the “Mowana Mine”), and a net loss from
continuing operations of US$29.1 million (including the US$25 million impairment charge).


The financial information reported by ACU and as described above has not been reviewed or reported on by the
Company’s auditors.


Furthermore, in terms of section 3.15 of the JSE Listing Requirements, companies are required to publish and distribute
Interim Reports to shareholders after the expiration of the first six-month period of the financial year, by no later than three
months after that date. The Company has a financial year ending 31 March 2013 with its Interim Report due to be
published by no later than 31 December 2013.


Shareholders are advised that it is the Company’s expectation that it will not be able to meet the above mentioned
reporting deadline imposed by the JSE Listing Requirements due to additional time being taken on the review and
analysis of the subsidiaries’ operating and financial information. It is expected that the revision will be completed during
January 2014 which will enable the Company to finalise its Interim Report by 31 January 2014. The Company’s interim
results for the six months ended 30 September 2013 will be released on SENS on or about 31 January 2014.


Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further
announcement regarding Interim Reporting is made.


30 December 2013
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited

Date: 30/12/2013 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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