On 31st January 2019, the Court of Appeal announced its final judgement on the Portland Cement Zambia case.

1. Dr. Rajan Mahtani
wins case at theCourt of
Appeal, confirmed as owner of
Portland Cement

2. On 31st January 2019,
the Court of Appeal
announced its final
judgement on the
Portland Cement
Zambia case.

3. According to this
judgement,
Dr. Rajan Mahtani owned
Finsbury Investments
holds 58 percent shares
at the factory and is the
majority shareholder of
the factory.

4. Ventriglias owned Ital
Terrazzo Limited holds
just 42 percent shares
at the factory and is
the minority
shareholder without
any legal ownership
over the
factory.

5. This decision from the
Court of Appeal also
aligned with the
original shareholders
agreement
established in the
year 2007

6. Justice Mwinde also
said that the judge
below him was wrong
in declaring
Ventriglias as only
shareholders as this
decision was
misdirected.

7. Justice Mwinde from
the Court of Appeal
also revealed other
details associated
with the case.

8. Dr. Rajan
Mahtani owned
Finsbury Investments
paid a sum of
K580, 000,000 to the
court on 6th February
2019.

9. This amount was paid
as per the decision
from the court and
with respect to the
commercial
registration of the
Portland Cement
Zambia.

10. This amount was paid
with interest in
compliance with the
said judgement.

11. On the other hand,
Finsbury
Investments have also
claimed a sum of K1
billion with interest on
the Zambezi Portland
Cement.

12. This claim has been
made with
respect to the
payment completed
on 27th July 2000.

13. It was for entire share
capital issues for
Zambezi Portland
Cement.

14. This payment was
further confirmed by
the Court of Appeal
with evidence of share
transfer reports
during January 2007
and December 2006.

15. These reports further
confirm the legal
ownership and
majority shareholding
of Finsbury
Investments on the
Portland Cement
Zambia case.

16. The final decision for this
pending claim by Finsbury Investments
will be announced soon.