| Mon 21 Jul 2008, 15:47 | | LAF - Lonrho Plc - Raises second round financing of GBP8.7 million to complete |
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LAF
LOLAF
LAF - Lonrho Plc - Raises second round financing of GBP8.7 million to complete
the company`s target of US$ 40 million (GBP19.8m )
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")
Lonrho Raises Second Round Financing of GBP8.7 million to complete the Company`s
target of US$ 40 million ( GBP19.8m )
21st July 2008
The Board of Lonrho is pleased to announce that the Company has raised an
additional GBP8.69 million (GBP8.4 million net of expenses) by way of a second
placing of 33,437,873 new ordinary shares of 1 pence each (`Placing Shares`) in
the share capital of the Company at 26 pence per Placing Share with institutions
(the `Placing`). This second round financing is in addition to the GBP11.11
million placing announced by the Company on 15th July 2008 achieving the
Company`s target to raise US$ 40 million (GBP19.8m).
These latest Placing Shares will represent approximately 7.35% 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 25th July 2008. The total number
of shares in issue following completion of the Placing will be 454,973,076.
The Placing will enable the Company to continue to invest in its growth strategy
through the roll out of its activities and operations across Africa.
These latest round of financing of GBP19.8 million, in conjunction with the
GBP24.5 million raised in February 2008, completes the financing authority of
the Board authorized by shareholders in November 2007.
David Lenigas, Executive Chairman, commented:
"We are delighted to have raised a total of GBP19.8 million in these very
uncertain market conditions. These new funds will allow us to continue to grow
the Company`s presence in Africa. Lonrho now has a strong treasury and continues
to maintain no debt to the parent company, putting the Company in a sound
position to weather the current market downturn and continue, uninterrupted in
its strategy of creating and building businesses that build and improve Africa."
For further information, please contact:
LONRHO 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 de Borchgrave, 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 Plc
Hugh Field +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`s shares are traded on the London AIM
stock exchange (LONR). Lonrho is strategically focused on the development of
business opportunities in infrastructure, transportation, support services,
hotels and natural resources. The Company has over 19,000 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)
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes & Pieces www.bytespieces.com
Kwikbuild - www.e-kwikbuild.co.za
LonZim - www.lonzim.co.uk
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 21/07/2008 15:47:38 Produced by the JSE SENS Department.
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