Mahtani (Finsbury Investments Limited) Paid K580,000,000 Into Court On 6th February 2019

Mahtani (Finsbury Investments Limited) Paid K580,000,000 Into Court On 6th February 2019

Pursuant to the Judgement of the Court of Appeal of Zambia holden at Lusaka (Appeal No. 117/2018) delivered on 31st January, 2019 Finsbury Investments Limited paid into the High Court of Zambia at the Commercial Registry under Cause No. 2008/HPC/366 on 6th February 2019 K580,000,000 (pre-rebased) plus interest in compliance of the said Judgement (J40).

 

At the same time Finsbury Investments Limited has made a claim of K1 Billion plus interest on Zambezi Portland Cement Limited for the payment made on 27th July, 2005 for the entire issued share capital of Zambezi Portland Cement Limited..  The Court of Appeal further confirmed that the share transfers in December 2006 and January 2007 are and have been valid and consequently Finsbury Investments Limited hold 58% (Fifty eight Per Centum)  and Ital Terrazzo Limited (In Receivership) hold 42% (Forty two Per Centum) of the entire issued share capital of Zambezi Portland Cement Limited.

 

Reports and publications made to the contrary by the alleged CEO of Zambezi Portland Cement Limited are inconsistent with the said Judgement.