In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements (“LuSE Listings Requirements”), the Board of Directors of Copperbelt Energy Corporation PLC (“the Company” or “CEC”) (the “Board”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the six-month period ended 30 June 2020 is expected to be approximately 514% lower than for the six-month period ended 30 June 2019.
The movement in EPS is primarily attributed to increased impairment loss on the back of the Konkola Copper Mines Plc payment default, which continued during the period, and exchange loss on the unpaid VAT refunds driven by the depreciating Kwacha.
The Company expects its results for the six-month period ended 30 June 2020 to be released on SENS and published in the local press on or about 21 August 2020. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
By Order of the Board
Julia C Z Chaila
Issued in Lusaka, Zambia on Wednesday, 19th August 2020
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First Issued on 19 August 2020