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ZCI LIMITED - Cautionary Update

Release Date: 01/09/2015 16:00
Code(s): ZCI     PDF:  
Wrap Text
Cautionary Update

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" or “the Group”)

CAUTIONARY UPDATE: FUNDING OF AFRICAN COPPER PLC

Further to the funding announcement released on SENS on 7 May 2015, wherein
shareholders were advised of additional funding provided by the Copperbelt Development
Foundation (“CDF”), the ultimate controlling shareholder of the Company, to the Company’s
subsidiary,   African Copper     PLC (“ACU"),     of   US$1.5 million and the Cautionary
Announcements released on 7 May 2015 and 19 June 2015 regarding the Group’s additional
funding requirements, and the announcement released on SENS on 10 July 2015 wherein
Shareholders were advised that ACU received a further US$2 million funding from CDF,
Shareholders are notified that ACU have obtained an additional unsecured loan facility of
US$1 million from CDF (the “additional CDF Loan Facility”).

The purpose of the additional CDF Loan Facility is to provide ACU with additional short term
working capital. The additional CDF Loan Facility has an interest rate of 9 percent per annum
with the principal and accrued interest repayable in full on 31 August 2016. As at the date of
this announcement, ACU has interest-bearing loans (including accrued interest) with ZCI
totalling US$103.4 million, excluding the existing convertible loan of a further US$7.4 million,
and interest bearing loans (including accrued interest) with CDF of US$ 4.6 million.

Shareholders are further advised that ZCI and ACU are still currently running processes to
secure additional long term funding. Accordingly, shareholders are advised to continue
exercising caution when dealing in the Company’s securities until a further announcement is
made.

As more information becomes available, the Company shall provide further updates.

1 September 2015
Bermuda
Sponsor: Bridge Capital Advisors (Proprietary) Limited

Date: 01/09/2015 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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