| Tue 13 Jul 2010, 12:01 | | LON - Lonmin Plc - Transaction Completion and Directorate Change |
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LON
LOLMI
LON - Lonmin Plc - Transaction Completion and Directorate Change
Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin")
Lonmin PLC - Transaction Completion and Directorate Change
Further to the announcement made on 10 May 2010, Lonmin Plc ("Lonmin") is
pleased to confirm that Shanduka Resources (Proprietary) Limited now owns 50.03%
of Incwala Resources (Proprietary) Limited ("Incwala"), Lonmin`s Black Economic
Empowerment partner, as all conditions precedent have been satisfied and the
transaction is now complete. Consequently, Lonmin is pleased to announce that
Cyril Ramaphosa has today been appointed to the Lonmin board as a non-executive
director.
Mr Ramaphosa (57) is a South African national and is a law graduate from the
University of South Africa ("Unisa"). He joined the Council of Unions of South
Africa as a legal adviser in 1981 and went on to join the National Union of
Mineworkers, one of South Africa`s largest trade unions, serving as general
secretary until 1991. He is currently executive chairman of Shanduka Group
(Proprietary) Limited, which holds interests in businesses across a number of
sectors. He is non-executive chairman of telecommunications group MTN Group
Limited and joint chairman of Mondi. He is also a non-executive director of
insurance group SASRIA, brewing group SABMiller, steelmaker MacSteel Global and
financial services groups Alexander Forbes and Standard Bank Group. Cyril led
the ANC negotiation team at the Conference for a Democratic South Africa
(CODESA) and, as chairman of the Constitutional Assembly from 1994 to 1996, he
successfully helped to deliver South Africa`s constitution, widely recognised as
one of the most democratically advanced and transparent constitutions in the
world. He is a past chairman of the Black Economic Empowerment Commission in
South Africa and was recently appointed as a member of the National Planning
Commission, a body created by the President of South Africa with responsibility
for drafting a long-term national development plan for the country. He holds
honorary doctorates from a number of institutions, including Unisa and the
University of Massachusetts.
In accordance with the Listing Rules, Lonmin confirms that Mr Ramaphosa was
previously a director of Molope Group Limited which went into voluntary
liquidation on 27 July 2000. Apart from this, there are no additional matters
that would require disclosure under LR 9.6.13 R (1) to (6). Mr Ramaphosa has
no beneficial interests in Lonmin ordinary shares.
Roger Phillimore, Chairman of Lonmin said:
"I am delighted that Shanduka is now the majority shareholder of Incwala and am
particularly pleased to welcome Cyril Ramaphosa to the Lonmin board as a non-
executive director. Our partnership with Shanduka in Incwala, and Cyril`s wise
counsel will be invaluable in helping Lonmin build on its operational capacity
in South Africa and to fulfil its strategic transformational objectives."
13 July 2010
Enquiries:
Tanya Chikanza +44 (0)20 7201 6007
Head of Investor Relations
Cardew Group
Rupert Pittman +44(0) 20 7930 0777
Jamie Milton
END
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