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ZCCM Investments Holdings ( (FR:MLZAM) ) has shared an update.
ZCCM Investments Holdings has disclosed a partial final award in confidential arbitration proceedings with Trafigura under the London Court of International Arbitration Rules, confirming that a 28 July 2021 guarantee in Trafigura’s favour is binding on the company. The tribunal has set a process and timetable to challenge specific elements of Trafigura’s claim for USD 82.8 million, and ZCCM-IH has already filed its submissions, is reviewing legal options, and has urged shareholders to exercise caution when trading its securities until the matter progresses further.
The quantum of Trafigura’s claim will be determined at a later one‑day hearing after both parties’ submissions are exchanged and reviewed by the tribunal. ZCCM-IH has emphasized its commitment to protecting shareholder interests amid the potential financial impact of the award and has advised investors to seek independent professional advice as they assess the legal and financial risks associated with the ongoing dispute.
More about ZCCM Investments Holdings
ZCCM Investments Holdings is a Zambian investment holding company with interests primarily in the mining sector and related industries. Listed on the Lusaka Securities Exchange, it manages the state’s strategic shareholdings in key resource assets and plays a central role in Zambia’s minerals and mining investment landscape.
See more data about MLZAM stock on TipRanks’ Stock Analysis page.