| Fri 4 Dec 2009, 9:00 | | LAF - Lonrho Raises GBP16.025m (US$ 26.5m) From Existing Shareholders In A |
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LAF
LOLAF
LAF - Lonrho Raises GBP16.025m (US$ 26.5m) From Existing Shareholders In A
Placing Of 160,257,213 Ordinary Shares
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 GBP16.025m (US$ 26.5m) from existing shareholders in a placing
of 160,257,213 Ordinary Shares
4 December 2009
The Board of Lonrho is pleased to announce that the Company has raised
GBP16.025m, gross, by way of a placing of 160,257,213 new ordinary shares of
1 pence each ("Placing Shares") in the share capital of the Company at
10 pence per Placing Share ("the Placing").
The Placing Shares have been unconditionally placed save as to their
Admission. Application has been made for admission of the Placing Shares to
trading on AIM and admission is expected to take place on 9 December 2009.
The Placing Shares will together represent approximately 17% of the
Company`s enlarged issued share capital and the total number of shares in
issue following completion of the Placing will be 959,353,712.
The fundraising has been effected by an irrevocable placing to existing
shareholders under a cash box structure. The new ordinary shares will, when
issued, rank pari passu in all respects with the existing ordinary shares of
the Company.
The Company intends to call a General meeting to increase its authorities to
issue further Ordinary Shares to raise further working capital for the Group
if demand exists.
David Lenigas, executive chairman of Lonrho, commented:
"The placement of GBP16m was fulfilled wholly by existing shareholders and
is a strong endorsement of the Company`s excellent progress over the past
twelve months. The proceeds of the fund raising will provide both further
working capital for the Group`s existing businesses and the ability for
Company to increase it`s equity stake in its core established businesses,
including its agricultural and building divisions for the benefit of
shareholders."
Enquiries
Lonrho Plc
David Lenigas, Executive Chairman +44 (0)20 7016 5105
Geoffrey White, Chief Executive Officer +44 (0)20 7016 5105
Emma Priestley, Executive Director +44 (0)20 7016 5105
Pelham PR
Charles Vivian +44 (0) 20 7337 1538
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7337 1527
+44 (0) 7841 672831
Beaumont Cornish Limited (Nomad)
Rosalind Hill Abrahams +44 (0) 20 7628 3396
Roland Cornish +44 (0) 20 7628 3396
South African Sponsor
Java Capital (Proprietary) Limited
Date: 04/12/2009 09:00:02 Produced by the JSE SENS Department.
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