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LAF
LOLAF
LAF - Lonrho Plc - Lonrho appoints Jefferies Hoare Govett as financial
advisor and broker
LONRHO PLC
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho" or "the Company")
LONRHO APPOINTS JEFFERIES HOARE GOVETT AS FINANCIAL ADVISOR AND BROKER
Lonrho Plc is delighted to announce that it has today appointed Jefferies
Hoare Govett as Financial Adviser and Corporate Broker to the Company.
Lonrho announced earlier today that it plans to list its aviation division in
a separate Plc in conjunction with Sir Stelios Haji-Ioannou and easyGroup.
As Lonrho does not intend to invest further in the aviation sector, over time
it will become a more passive, arm`s length, shareholder in the aviation
business.
The focus for Lonrho management moving forward will be on developing the
Lonrho agriculture and agri-logistics divisions, and the oil services and
infrastructure division. These are two areas where the Company sees strong
growth opportunities as the market for both in Africa is developing
significantly. Both divisions have strong Africa / US linkages. For example,
the agri division distributes John Deere, and has an increasing percentage of
its business supplying African produce to US retailers such as Costco and
Walmart. Furthermore, the majority of customers for the oil services division
are US based oil service companies supporting the rapidly developing oil
industry in Africa.
David Lenigas, Lonrho`s Executive Chairman commented:
"Lonrho is seeing strong growth this year and we believe that Jefferies Hoare
Govett have a good understanding of the opportunities developing in the
emerging African marketplace combined with an unparalleled presence as a
broker and financial adviser in the UK and US. Lonrho`s increasing
participation in businesses that have interaction between the US and Africa
makes Jefferies Hoare Govett an ideal partner for the Company moving
forward."
Enquiries:
Lonrho Plc +44 (0) 20 7016 5105
David Lenigas
Geoffrey White
David Armstrong
Jefferies Hoare Govett +44 (0) 20 7029 8000
Sara Hale
Harry Nicholas
Simon Brown
FTI Consulting +44 (0) 20 7831 3113
Edward Westropp
Georgina Bonham
13 June 2012
South African sponsor
Java Capital
Date: 13/06/2012 11:46:53 Produced by the JSE SENS Department.
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