BY GRACE CHAILEZAMSORT Limited and its shareholders face contempt charges following their alleged decision to ignore an injunction restraining them from disposing of mineral tenements and assets for Kalaba Mine.The Kabwe High Court granted an injunction and appointed Mr Mwenya Andrew Mukupa as receiver over the said mining tenements to manage and preserve until further order of the court.This is a matter where investors in the mine, namely Terra Metals Limited and its shareholders Mumena Mishinge and Brian Chisala are demanding payment of the sum of USD5, 889,407.00.In default of payment of the said amount, full restitution of their 53 percent ordinary fully paid shares in Zamsort granted to the new shareholders (Handa Resources). In an affidavit supporting the application for leave to apply for an order of committal, Terra Metals director Kelvin Vlahakis stated that Zamsort and Handa Resources, which have the same legal and beneficial ownership, have refused to hand over all assets […]
Zamsort shareholders face contempt
