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LAF
LOLAF
LAF - Lonrho Plc - Grant of options
Lonrho Plc
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF ISIN number: GB0002568813)
("Lonrho" or "the Company")
GRANT OF OPTIONS
The Board of Lonrho announces today the grant by the Company on 4th August
2011 of options over, in aggregate, 39,000,000 ordinary shares of 1p each in
the share capital of the Company to Directors, senior consultant and senior
management. The grants to Directors are as follows:
No. of share Terms of option awards
Name options to
be granted
One Third One Third One Third
David Lenigas 10,000,000 Exercisable Exercisable Exercisable
Executive from: 4th from: 4th from: 4th August
Chairman August 2012 to August 2013 to 2014 to 3rd
3rd August 3rd August August 2016
2016 2016
Exercise Exercise Price:
Price: Mid Exercise 25p
market price Price: 22p
at close on
3rd August
2011 +10%
Geoffrey 10,000,000 Exercisable Exercisable Exercisable
WhiteDirector from: 4th from: 4th from: 4th August
and CEO August 2012 to August 2013 to 2014 to 3rd
3rd August 3rd August August 2016
2016 2016
Exercise Price:
Exercise Exercise 25p
Price: Mid Price: 22p
market price
at close on
3rd August
2011 +10%
David 6,000,000 Exercisable Exercisable Exercisable
Armstrong from: 4th from: 4th from: 4th August
Director August 2012 to August 2013 to 2014 to 3rd
3rd August 3rd August August 2016
2016 2016
Exercise Price:
Exercise Exercise 25p
Price: Mid Price: 22p
market price
at close on
3rd August
2011 +10%
The grant of options was carefully considered by the Remuneration Committee
and was made under the Company`s Unapproved Share Option Plan.
The grant of options represent, in aggregate, 3.00% of the Company`s existing
issued share capital. The terms and conditions of options remain the same as
previously announced options.
The mid market price on 3rd August 2011 was 16.75p resulting in an option
price (with an uplift of 10%) of 18.4p for senior management and also for the
first third of options granted to Executive Directors and a senior
consultant.
The Board considers that the award of these options is in line with the
Company`s policy of providing incentives to the senior management of the
Group to achieve its continued growth as a substantial business investing
across Africa.
Enquiries
Lonrho Plc +44 (0) 20 7016 5105
David Lenigas
Geoffrey White
David Armstrong
Panmure Gordon +44 (0) 20 7459 3600
Tim Linacre
Dominic Morley
Adam Pollock
Hannah Woodley
Pelham Bell Pottinger +44 (0) 20 7861 3232
Charles Vivian
James MacFarlane
South African sponsor
Java Capital
4 August 2011
Date: 04/08/2011 16:00:57 Produced by the JSE SENS Department.
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