Press Release by ZCCM-IH (28 May 2010) :
Further to our earlier communication concerning the delayed publication of the Annual Accounts for the financial years ended 30 June 2006, 2007, and 2008, we hereby inform all Shareholders and Stakeholders that the finalization of the audit of the Financial Statements for the year ended 30 June 2008 is advanced and is scheduled to be completed around the middle of June 2010.
We kindly remind you that while the Annual Reports for 2006 and 2007 have been approved by the Board, their presentation at an Extraordinary General Meeting (EGM) and subsequent issuance awaits completion of audit of financial statements for the year to 30 June 2008. The Board’s decision to issue the three reports simultaneously arises from the need to reduce costs resulting from undertaking subsequent events review for each year separately. We further inform you that the decision to revert to the use of cost values in respect of the Company’s interests has meant that the Accounts had to be reworked.
We therefore anticipate that Board approval for the Annual Accounts to June 2008 would be given at the scheduled quarterly Board Meeting in June 2010 and an EGM date announced thereafter.
ZCCM-IH Management sincerely regrets the delay in the publication of the afore-said Annual Reports and appreciates your understanding in this matter.
C CHABALACOMPANY SECRETARYZCCM-IH28 MAY 2010