Change in Financial Year End -31 March to 31 Dec

RNS Number : 0811N

ZCCM Invs.Hldgs PLC

20 September 2019

 

SENS ANNOUNCEMENT

(the "Notice" or "Announcement")

ISSUER

ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")

[Incorporated in the Republic of Zambia]

Company registration number:        119540000771

Share Code:                                           ZCCM-IH

ISIN:                                                       ZM0000000037

Authorised by:                                     Chabby Chabala - Company Secretary

SPONSOR

Stockbrokers Zambia Limited

[Founder Member of the Lusaka Securities Exchange]

[Regulated and licensed by the Securities and Exchange Commission of Zambia]

Contact Number:                 [phone]

Website:                                                www.sbz.com.zm

APPROVAL

The captioned Notice or Announcement has been approved by:

i.      the Lusaka Securities Exchange ("LuSE")

ii.    the Securities and Exchange Commission ("SEC")

iii.   Stockbrokers Zambia Limited ("SBZ")

RISK WARNING

The Notice or Announcement contained herein contains information that may be of a price sensitive nature.

Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.

ISSUED: 17 September 2019

ZCCM INVESTMENTS HOLDINGS PLC

 [Incorporated in the Republic of Zambia]

Company registration number: 771

Share Code: ZCCM-IH

ISIN: ZM0000000037

["ZCCM-IH" or "the Company"]

NOTICE OF CHANGE IN FINANCIAL YEAR END

At the Meeting of the Board of Directors held on 16 August 2019, the Board of ZCCM Investments Holdings PLC ("the Company" or "ZCCM-IH") resolved, , that the Company's financial year-end as well as that for all its subsidiaries be changed from 31 March to 31 December with effect from 31 December 2019. The change was necessitated by the need for ZCCM-IH to comply with the requirements of the Public Finance Management Act No. 1 of 2018 (PFMA) and also to align its financial year end with the majority of ZCCM-IH's investee companies including that of the Industrial Development Corporation (IDC), the majority Shareholder's tax year.  

The change in financial year-end post March 2019, will result in a 9-month financial year from 1 April 2019 to 31 December 2019. Thereafter, 31 December will become the new Accounting Reference Date and a normal 12-month financial year will resume.

It is envisaged that the change in the financial year-end will improve the efficiency of the Company's financial reporting.

Issued in Lusaka, Zambia on Tuesday, 17 September 2019

	T    |    [phone] E       |     www.sbz.com.zm Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia
First Issued on  17 September 2019

 

END

 

 

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