| Tue 18 Mar 2008, 15:24 | | LAF - Lonrho Plc - Lonrho increases holding in sails to 66.7% |
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LAF
LOLAF
LAF - Lonrho Plc - Lonrho increases holding in sails to 66.7%
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")
LONRHO INCREASES HOLDING IN SAILS TO 66.7%
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African
investments, is pleased to announce that it has acquired a further 15.7% stake
in SA Independent Liner Services Pty Limited ( "SAILS" ) for US$8.96 million.
This increases Lonrho`s holding in SAILS to 66.7%.
SAILS provides scheduled containerised shipping services from South Africa along
the West Coast of Africa to Europe. This includes one of Africa`s largest
`reefer` services, providing chilled containers that transport fruit and
vegetables from African producers to European consumers. Since Lonrho`s first
investment in SAILS in July 2007, SAILS operations have expanded significantly
and the fleet has grown from two to six vessels in service.
Lonrho increased its investment in SAILS as part of a capital raising by SAILS
to finance the growth and development of its services between South Africa,
West Africa and Europe; to finance the relocation of SAILS to larger premises
and to enhance the administration and handling facilities within the company.
David Lenigas, Lonrho`s Executive Chairman commented:
"SAILS provides essential services for African companies to import much needed
consumables and raw materials and for producers to get their goods to markets in
South Africa and Europe. The increase in capital will allow SAILS to access
better the growth opportunities that this market provides.
SAILS continues to provide great synergy with other companies in the Lonrho
portfolio of infrastructure and transport companies"
ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)7881 825 378
Geoffrey White, Chief Executive Officer +44 (0)7717 307 308
Emma Priestley, Executive Director +44 (0)7867 785 177
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7743 6375
+44 (0) 7841 672831
Collins Stewart Europe : NOMAD to Lonrho
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, 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
- 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
- Kwikbuild - www.e-kwikbuild.com
Date: 18/03/2008 15:24:49 Produced by the JSE SENS Department.
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