Print   

2 February 2009

Zambezi Resources Limited  

('Zambezi' or 'the Company')

Change of Significant Shareholding

Zambezi Resources Limited ('Zambezi' or the 'Company') received notice on 30 January 2009 from CIM Special Situations Fund that 9,093,832 ordinary fully paid shares in Zambezi were transferred to CIM Discovery Fund Limited.

Following the transaction, CIM Discovery Fund Limited holds 9,093,832 ordinary fully paid shares in Zambezi, which represent 4% of the issued share capital of the Company. CIM Special Situations Fund holds 9,959,468 ordinary shares in Zambezi, which represent 4.39% of the issued share capital of the Company. 

Downloads available from the Zambezi website at: www.zambeziresources.com

For more information contact:   

Julian Ford, Managing Director Zambezi Resources (Australia) +61 (08) 9216 9000 +61 (0) 418 949 580

Fiona Owen     Grant Thornton UK LLP +44 20 7383 5100

Simon Edwards / Adam Lloyd Evolution Securities Ltd + 44 20 7071 4300

TR-1:  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Zambezi Resources Limited

2. Reason for notification

An acquisition or disposal of voting rights

3. Full name of person(s) subject to notification obligation:

CIM Discovery Fund Limited 

4. Full name of shareholder(s) (if different from 3):

n/a 

5. Date of transaction (and date on which the threshold is crossed or reached if different):

27/1/2009

6. Date on which issuer notified:

29/1/2009

7. Threshold(s) that is/are crossed or reached:

4.6%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares   if possible using the ISIN CODE	Situation previous to the Triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights viii	Number of shares	Number of voting rights ix		% of voting rights
			Direct	Direct  x	Indirect xi	Direct	Indirect
		Below 3%	9,093,832		9,093,832		4.6%

B: Financial Instruments

Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ conversion period/date	No. of voting rights that may be acquired (if the instrument exercised/converted)	Percentage of voting rights

Total (A+B)

Number of voting rights	Percentage of voting rights
9,093,832	4.6%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

CIM Discovery Fund Limited

9,093,832 shares

4.6%

Proxy Voting:

10. Name of proxy holder:

CIM Discovery Fund Limited 

11. Number of voting rights proxy holder will cease to hold:

n/a

12. Date on which proxy holder will cease to hold voting rights:

n/a

13. Additional information:

-

14 Contact name:

Ashley Retter

CIM Investment Manangement Limited

15. Contact telephone number:

020 7468 7600

Annex Notification of major Interests in Shares

A: Identity of the person or legal entity subject to the notification obligation

Full name (including legal form for legal entities):

Zambezi Resources Limited 

Contact address (registered office for legal entities):

17 Ord Street

West Perth

WA 6005

Australia

Phone number:

+61 08 9216 9000

Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

CIM Invesment Management Limited

Contact address

1 Regent Street, London, SW1Y4NS

Phone number

0207 468 7600

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

Investment Manager for CIM Discovery Fund Limited

TR-1:  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Zambezi Resources Limited

2. Reason for notification

An acquisition or disposal of voting rights

3. Full name of person(s) subject to notification obligation:

CIM Special Situations Fund Limited 

4. Full name of shareholder(s) (if different from 3):

n/a 

5. Date of transaction (and date on which the threshold is crossed or reached if different):

27/1/2009

6. Date on which issuer notified:

29/1/2009

7. Threshold(s) that is/are crossed or reached:

Below 6%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares   if possible using the ISIN CODE	Situation previous to the Triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights viii	Number of shares	Number of voting rights ix		% of voting rights
			Direct	Direct  x	Indirect xi	Direct	Indirect
BMG988411028	19,053,300	19,053,300	9,959,468		9,959,468		5.03%

B: Financial Instruments

Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ conversion period/date	No. of voting rights that may be acquired (if the instrument exercised/converted)	Percentage of voting rights

Total (A+B)

Number of voting rights	Percentage of voting rights
9,959,468	5.03%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

CIM Special Situations Fund Limited

9,959,468 shares

5.03%

Proxy Voting:

10. Name of proxy holder:

CIM Special Situations Fund Limited 

11. Number of voting rights proxy holder will cease to hold:

n/a

12. Date on which proxy holder will cease to hold voting rights:

n/a

13. Additional information:

-

14 Contact name:

Ashley Retter

CIM Investment Manangement Limited

15. Contact telephone number:

020 7468 7600

Annex Notification of major Interests in Shares

A: Identity of the person or legal entity subject to the notification obligation

Full name (including legal form for legal entities):

Zambezi Resources Limited 

Contact address (registered office for legal entities):

17 Ord Street

West Perth

WA 6005

Australia

Phone number:

+61 08 9216 9000

Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

CIM Invesment Management Limited

Contact address

1 Regent Street, London, SW1Y4NS

Phone number

0207 468 7600

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

Investment Manager for CIM Special Situations Fund Limited 

ENDHOLUUUBUPUPBUMP