African Copper PLC

African Copper PLC

February 28, 2012 02:00 ET

African Copper Plc: ZCI Strategic Review

LONDON, UNITED KINGDOM--(Marketwire - Feb. 28, 2012) - African Copper Plc ("ACU" or the "Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER) has been notified by its 84.19% controlling shareholder ZCI Limited ("ZCI") that ZCI has initiated a strategic review process to realise value from its investment in ACU. Consequently, ZCI has retained Rand Merchant Bank as its financial adviser to explore potential alternatives, which process may result in the partial or full sale of ZCI's interest in ACU. However there is no certainty that a partial or full sale will be completed.

As evidenced by the recent USD5 million loan agreement signed with ZCI, ACU is still committed to executing its business plan in Botswana and ZCI remains a supportive shareholder. ACU will update the market as further information becomes available.

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Notes to Editors:

African Copper Plc is an AIM and Botswana listed copper producer and exploration company, currently focused on Botswana. The Company's flagship project is the copper producing open pit Mowana mine. ACU also owns the rights to the adjacent Thakadu-Makala deposit. Both deposits are situated on the highly prospective Matsitama belt, located close to Botswana's second largest city, Francistown, in the north-eastern part of the country.

Contact Information

  • African Copper Plc
    Brad Kipp
    Chief Financial Officer
    +1 (416) 847 4866

    Tavistock Communications (PR and IR)
    Simon Hudson
    +44 (0) 20 7920 3150

    Canaccord Genuity (NOMAD and Broker)
    Andrew Chubb/Tarica Mpinga
    +44 (0) 20 7050 6500