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ZCI LIMITED - Additional Loan Facility

Release Date: 19/12/2014 09:00
Code(s): ZCI     PDF:  
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Additional Loan Facility

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”), AND ZCI AND
THE COPPERBELT DEVELOPMENT FOUNDATION (“CDF”)

ZCI is pleased to announce that it has entered into an additional loan facility of USD2.5 million to its
subsidiary, ACU. The purpose of the new loan is to provide ACU with further working capital for its Mowana
Mine facilities, primarily to cover the funding gap caused by the amount of waste stripping required to manage
the transition of mining activities from the Thakadu pit to the Mowana pit. The new USD2.5 million loan from
ZCI is a secured loan facility with a simple interest rate of 9 percent, repayable in five equal monthly
instalments of USD500,000 in loan capital commencing on 19 January 2016 (the "Waste Stripping Facility").
Interest will be accrued annually and interest payments shall be included in the monthly instalments,
calculated on the reducing capital balance. The terms and conditions of the Waste Stripping Facility are on
substantially similar terms to the previous term loans from ZCI and bring ACU’s total interest-bearing loans
(including accrued interest) from ZCI to USD 93.9 million, excluding the existing convertible loan of a further
USD7.1 million. For further information please visit www.africancopper.com

In order to have sufficient working capital to be able to provide the Waste Stripping Facility to ACU, ZCI has in
turn obtained a loan facility from its majority shareholder, the CDF, of USD2.5 million. The new USD2.5
million loan to ZCI from the CDF is an unsecured loan facility with a simple interest rate of 9 percent,
repayable in five equal monthly instalments of USD500,000 in loan capital commencing on 19 January 2016.
Interest will be accrued annually and interest payments shall be included in the monthly instalments,
calculated on the reducing capital balance. ZCI has no other interest bearing loans outstanding to the CDF or
any other party.

Bermuda
19 December 2014
Sponsor: Bridge Capital Advisors (Pty) Limited

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