LAF - Lonrho - General Meeting Approves Conversion Rights for Us$ 70m Guaranteed
LAF
LOLAF
LAF - Lonrho - General Meeting Approves Conversion Rights for Us$ 70m Guaranteed
Convertible Bond
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")
GENERAL MEETING APPROVES CONVERSION RIGHTS FOR US$ 70M GUARANTEED CONVERTIBLE
BOND
The Company is pleased to announce that at the General Meeting held today, the
Resolution was passed to authorise the grant of the conversion rights under the
US$ 70,000,000 guaranteed convertible bonds issued by LAH Jersey Limited the
Company`s wholly owned direct subsidiary.
David Lenigas, Lonrho Executive Chairman stated :
I am delighted that there was overwhelming support from shareholders for the
Company entering into the US$70 million guaranteed convertible bond. This is a
significant step for the growth of the Company. The proceeds of the bond will be
utilised to restructure some existing expensive debt in Africa and fast track
the expansion of Lonrho`s agricultural division`s ability to produce, source and
deliver fish, fruit and vegetables from Southern Africa to the exciting USA
retail sector.
Enquiries
Lonrho Plc
David Lenigas, Executive Chairman +44 (0)20 7016 5105
Geoffrey White, Chief Executive +44 (0)20 7016 5105
officer
David Armstrong, Finance Director +44 (0)20 7016 5105
Emma Priestley, Executive Director +44 (0)20 7016 5105
Beaumont Cornish Limited (Nomad)
Rosalind Hill Abrahams +44 (0) 20 7628 3396
Pelham PR
Charles Vivian +44 (0) 20 7861 3126
+44 (0) 7977 297 903
James MacFarlane +44 (0) 20 7861 3864
+44 (0) 7841 672 831
Date: 29/10/2010 14:50:03 Produced by the JSE SENS Department.
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