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JSE lifts ZCI trading suspension

Johannesburg - Zambia Copper Investments [JSE:ZCI] on Tuesday announced that the JSE Limited has lifted the suspension in the trading of its ordinary shares.

Effective from the commencement of business on Friday last week, the lifting of the suspension follows the passing of all resolutions at the general meeting of shareholders held on Monday this week.

ZCI shareholders agreed to the company's plans to invest in and lend money to exploration and development company African Copper.

In May last year ZCI entered into and completed a subscription agreement under which it subscribed to 676 5707nbsp;543 new African Copper ordinary shares for about $10m.

The company also agreed to a string of loans and financing for African Copper.

On Monday ZCI shareholders agreed that ZCI could replace th $7m bridge loan facility and the $25.4m bridge loan facility provided to African Copper in May 2009 with a four year secured credit facility of $31.1m.

This placed African Copper's borrowings from ZCI on a more permanent footing.

African Copper is tri-listed on London's AIM market, the Toronto Stock Exchange and the Botswana Stock Exchange.

ZCI's investment in African Copper changed the company's classification as a cash shell, which entitled it to be re-listed on the JSE.

- I-Net Bridge

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