| Fri 15 Feb 2008, 9:30 | | LAF - Lonrho Plc - Lonrho Completes GBP24.50 million Placing |
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LAF
LOLAF
LAF - Lonrho Plc - Lonrho Completes GBP24.50 million Placing
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
14 February 2008
Lonrho Completes GBP24.50 million Placing
Placing of Ordinary Shares
The Board of Lonrho is pleased to announce that the Company has raised
GBP24.50 million gross (GBP24.25 million net of expenses) by way of a placing
of 56,978,788 new ordinary shares of 1 pence each in the share capital of the
Company (`Placing Shares`) at 43 pence per Placing Share with certain
institutions and other investors (`Placing`).
The Placing Shares will represent approximately 15.04 per cent of the
Company`s enlarged issued share capital and application will be made for the
admission of the Placing Shares to trading on AIM. It is expected that
dealings in the Placing Shares will commence at 8.00 a.m. on Wednesday 20
February 2008. The total number of shares in issue following completion of
the Placing will be 378,814,995.
The Placing will enable the Company to continue to provide the necessary funds
for its growing investments in Africa, in particular the further expansion of
Luba Freeport in Equatorial Guinea and the planned expansion in the operations
of SA Independent Liner Services, the South African based shipping line,
Fly540, the low cost pan African airline, Bytes & Pieces, the Southern African
commercial IT solution providers company and Swissta`s water bottling plants.
It will also enable the Company to fund further investment opportunities that
are in line with its strategy.
David Lenigas, Executive Chairman, commented:
"We are pleased to have completed such a significant fundraising in difficult
markets. These funds will enable us to pursue and accelerate the Company`s
growth strategy across the African continent, as we look to increase
profitability from our existing assets and increase value for our
shareholders."
For further information, please contact:
Lonrho Plc +44 (0) 20 7016 5105
David Lenigas, Executive +44 (0)7881 825 378
Chairman
Geoffrey White, Chief +44 (0)7717 307 308
Executive Officer
Emma Priestley, Executive +44 (0)7867 785 177
Director
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297 903
James MacFarlane +44 (0) 20 7743 6375
+44 (0) 7841 672831
Collins Stewart Europe
Hugh Field / Jonny Sloan +44 (0) 20 7523 8350
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, communications, hotels, distribution
and agribusiness. 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
Lonrho Mining - www.lonrhomining.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 - www.saliners.com
Bytes and Pieces - www.bytespieces.com
Celsys Limited - www.celsys.co.zw
Kwikbuild - www.kwikbuild.co.za
LonZim - www.lonzim.co.uk
15 February 2008
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 15/02/2008 09:30:04 Produced by the JSE SENS Department.
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