| Wed 9 Dec 2009, 9:00 | | LAF - Lonrho PLC - Lonrho private placement of GBP9 million |
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LAF
LOLAF
LAF - Lonrho PLC - Lonrho private placement of GBP9 million
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 private placement of GBP9 million
9 December 2009
Lonrho Plc (AIM:LONR) is pleased to announce that following a successful
GBP16.0m placement at 10 pence per share to existing major shareholders, as
announced on the 4th December 2009, an additional GBP9.1m has been placed with
new and existing institutions ,at a placing price of 10 pence per share,
subject to shareholder approval. The two placings will provide a total of
GBP25.1m for working capital for the Group`s existing businesses and will
provide the Company with the ability to increase its equity stake in its core
established businesses, including its agricultural and building divisions.
The placing, announced today, has raised GBP9.1million (before expenses),
equivalent to approximately US$ 14.8 million, by means of the issue of
90,925,000 new ordinary shares in the Company (the "Placing Shares") at 10
pence per Ordinary Share (the "Placing"). The issue of the Placing Shares is
subject to shareholder approval at a general meeting of the Company, which is
expected to be held on Tuesday 29th December 2009. Subject to passing the
resolutions, the admission of the Placing Shares to trading on AIM will be on
Wednesday 30th December 2009. The Placing Shares will rank pari passu with
existing ordinary shares in issue.
The Placing Shares, when issued, would represent approximately 8.66% 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 30th December
2009. The total number of shares in issue following completion of the Placing
would be 1,050,278,712.
A circular convening the general meeting of the Company to approve, inter
alia, the issue of the Placing Shares will be sent to shareholders.
David Lenigas, Executive Chairman of Lonrho commented :
`We are delighted with the support from both existing shareholders and some
new significant institutions. I am confident that the GBP25m now raised will
enable Lonrho to increase its stakes in its agriculture and building
subsidiaries and puts the Company in a very strong position as we enter 2010.`
Enquiries
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)20 7016 5105
Geoffrey White, Chief Executive Officer +44 (0)20 7016 5105
David Armstrong, Finance Director +44 (0)20 7016 5105
Pelham PR
Charles Vivian +44 (0)20 7743 6672
+44 (0)79 7729 7903
James MacFarlane +44 (0)20 7743 6375
+44 (0)78 4167 2831
Beaumont Cornish Limited
Rosalind Abrahams +44 (0)20 7628 3396
Roland Cornish +44 (0)20 7628 3396
South African Sponsor
Java Capital (Proprietary) Limited
Date: 09/12/2009 09:00:01 Produced by the JSE SENS Department.
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