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Arc Minerals Limited (ARCM.L)

LSE - LSE Delayed price. Currency in GBp
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3.6250-0.0750 (-2.03%)
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  • M
    Mark
    Here we go - how much are AA going to offer ? My guess 12p/share.
  • M
    Mushinge
    This will never happen. Arc are not honest at all with the shareholders. Arc has even moved the licenses out of Zamsort illegally to runaway from legal problems and statutory obligations.
  • M
    Mushinge
    KEY PLAINTIFF IN TERRA METALS CASE AGAINST ZAMSORT HASN’T WITHDRAWN

    Lusaka ~ Tue, 16 Mar 2021

    By Brightwell Chabusha

    Terra Metals Limited’s case against Zamsort is still very active and none of the main plaintiffs has withdrawn from the matter, contrary to assertions by Arc Minerals Limited, the majority shareholder in Zamsort.

    One of the minority shareholders in Terra Metals, Katambi Bulawayo, resigned from the company and has had his shareholding forfeited accordingly. It is this development that Arc Minerals is riding on to speculate that the Terra Metals case may not proceed because one of the plaintiffs has withdrawn as a key applicant when in fact not.


    In this case, Terra Metals Limited and its shareholders have sued Zamsort Limited, demanding payment of US$5,889,407 in respect of their shares which were sold to another investor.

    However, Katambi’s resignation makes him not part of the matter and an application for misjoinder is being considered so that he can be removed from court documents.

    Terra Metals Limited, a company in the business of mining and such associated ventures, Mumena Mushinge and Brian Chisala, who are shareholders, have dragged Zamsort to the Kabwe High Court demanding payment of US$5,889,407 or in default of payment, full restitution of their 53 per cent ordinary fully paid shares in Zamsort Limited granted to the new shareholders.

    However, Arc Minerals Ltd Zambia, which has shares in Zamsort together with Kopara Investments, claimed that the Terra Metals case against Zamsort has no merit and was not expected to proceed following the withdrawal of a key plaintiff.

    However, it has been established that none of the key plaintiffs has withdrawn from the matter.

    As things stand, Terra Metals Limited has indicated that it will make an application for misjoinder of Katambi and proceed with the matter.

    https://zambiareports.com/2021/03/16/key-plaintiff-terra-metals-case-zamsort-hasnt-withdrawn/
    The latest news, politics, business, and opinion from Zambia
    The latest news, politics, business, and opinion from Zambia
    zambiareports.com
  • R
    R
    We want news!
  • Y
    Yahoo Finance Insights
    ARCM.L is up 7.16% to 3.59
  • Y
    Yahoo Finance Insights
    ARCM.L is down 7.54% to $2.82
  • M
    Mushinge
    The truth no big player can come in until Arc comes clean. Some of their local directors where arrested last week. The current share price is not a true reflection of what is really on ground. There is so much market abuse
  • M
    Mushinge
    HIGH COURT FOR ZAMBIA
  • R
    R
    Damn you