The company announced the following in a press release:
At the Extraordinary General Meeting (EGM) held on Monday 24 February 2014 at the Southern Sun Hotel in Lusaka, the members of ZCCM Investment Holdings Plc resolved to appoint a Non-Executive Director to represent the Minority Shareholders. Following this resolution, ZCCM-IH Plc is pleased to announce the appointment of Mr Philippe Taussac as a Non-Executive Director to represent the minority shareholders on the ZCCM-IH Board. Mr. Taussac brings to the Board many years of Business Management experience. ZCCM-IH is confident that he will add value to the Company.
This is big news for minority shareholders who have previously expressed their dissatisfaction, historically, with the lack of transparency as well as exclusion from decision-making in the the running of the entity. The government currently owns 87.6% of ZCCM-IH, with the rest owned by minority shareholders via the NYSE Euronext.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *