CEC Africa Investments Limited (“CECA” or “the Company”) is a public company in terms of the Securities Act No 41 of 2016 (“the Act”) and its shares are registered and regulated by the Securities and Exchange Commission of Zambia (“SEC” or “the Commission”). CECA shares are traded on the second-tier market (referred to as the Quoted Tier) of the Lusaka Securities Exchange (“LuSE”).
In compliance with Section 157 of the Act, CECA hereby notifies its shareholders and the market that, on 17 June 2020, BP Investments Limited (“BPIL”) had acquired a total number of 562,888,648 ordinary shares, representing a 35% shareholding in CECA which is a significant acquisition that requires a market announcement.
This substantial acquisition of 35% shareholding therefore obligates BPIL to undertake a mandatory offer in compliance with The Securities (Takeovers and Mergers) Rules of the Act issued under Statutory Instrument No 170 of 1993.
Therefore, shareholders and the market will be duly informed in due course via further announcements on action and steps to be undertaken by BPIL following the substantial acquisition.
In the meantime, investors and market are advised to seek professional advice, when dealing in the securities of the Company.
BPIL is a private company registered in Nigeria on 14th June 1999 for the purpose of engaging in commodity trade, investments, the provision of management and advisory services. BPIL has successfully made several investments in companies, resulting in their significant shareholdings in several companies in various sectors including electricity generation and distribution.
Head, Corporate Services
Issued in Lusaka, Zambia on Friday, 26th June 2020
|Lusaka Securities Exchange Sponsoring Broker|
|T | +260-211-232456|
E | [email protected]
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia
First Issued on 26 June 2020