| Wed 14 Nov 2007, 12:10 | | LAF - Lonrho Plc - Notice of extraordinary general |
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LAF
LOLAF
LAF - Lonrho Plc - Notice of extraordinary general meeting
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF & ISIN number: GB0002568813)
("Lonrho" or "the Company")
NOTICE OF EXTRAORDINARY GENERAL MEETING
Lonrho (AIM: LONR), the expanding conglomerate with a portfolio of African
investments, has today posted a circular to shareholders convening an
extraordinary general meeting of the Company ("EGM"). The purpose of the EGM
is to grant the Directors authority to increase its authorised share capital
from GBP4,000,000 to GBP5,500,000 by the creation of a further 150,000,000
new shares of 1p each representing approximately 46.61 per cent. of the
current issued share capital of the Company and to grant further authorities
to Directors to allot equity securities and to disapply pre-emption rights.
Since February 2006, the Company has been pursuing a growth strategy, which
aims to re-establish a significant presence on the African Continent focusing
on the infrastructure, transportation, support services, hotels and leisure
and natural resource sectors. The Company has announced a number of
significant investments in line with this strategy since February 2006.
To help finance its growth strategy, the Company raised an additional
GBP16.46 million (gross) through the placing of 51,449,381 new ordinary
shares of 1p each in the Company at 32p per share in May 2007 and, a further
GBP16.97 million (gross) was raised through the placing of 44,657,736 new
ordinary shares at 38p per share in October 2007.
The previous authorities to allot shares and to disapply pre-emption rights
granted to the Directors at the EGM held on 19 January 2007 have been fully
utilised by the above placings and accordingly, the Board is requesting that
shareholders consider, and if thought fit, grant further authorities to the
Directors and approve an increase in the authorised share capital of the
Company.
The Board is continually reviewing financing options for the Company and, at
this stage, believes that in some cases working capital is best obtained
through the issue of equity rather than commercial bank debt.
The EGM will be held at 10.00am on 6 December 2007, at the offices of Pelham
PR, No 1 Cornhill, London EC3V 3ND for the purposes of considering and, if
thought fit, passing the aforementioned resolutions.
Pursuant to AIM Rule 20, a copy of the circular and notice of EGM are
available on the Company`s web-site www.lonrho.com.
ENQUIRIES
Lonrho Plc +44 (0) 20 7016 5105
David Lenigas, Chief Executive +44 (0)7881 825 378
Emma Priestley, Executive Director +44 (0)7867 785 177
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
Alisdair Haythornthwaite +44 (0) 20 7743 6676
+44 (0) 7714 721379
Collins Stewart Europe
Hugh Field +44 (0) 20 7523 8350
Jonny Sloan
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful
business throughout Africa. The Company is listed on the London AIM stock
exchange (LONR). Lonrho is strategically focused on the development of
business opportunities in infrastructure, transportation, support services
and natural resources. The Company has over 20,000 shareholders and
substantial institutional backing to support its mandate to build a
profitable business that plays a fundamental role in the development of the
African economy.
Since 2006, the Company has invested in or acquired control of:
Hotel Cardoso - www.hotelcardoso.co.mz (retained)
Nare Diamonds - www.narediamonds.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Norse Air - www.norseair.co.za
Swissta Holdings - www.swissta.com
SA Independent Liner Services
Bytes and Pieces
13 November 2007
South African sponsor to Lonrho Plc
Java Capital (Proprietary) Limited
Date: 14/11/2007 12:10:25 Produced by the JSE SENS Department.
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