Lonmin Plc - Merger of AngloGold and Ashanti, and change in directorate
LONMIN PLC
Isin Code: GB0031192486
Share Code :LON
26 April 2004
Merger of AngloGold and Ashanti, and change in directorate
Lonmin Plc ("Lonmin") notes that the merger of Ashanti Goldfields Company
Limited ("Ashanti") and AngloGold Limited ("AngloGold") (the "Merger") has now
passed all of the procedural, legal and regulatory requirements, and the
announcement today by Ashanti and AngloGold of the completion of the Merger.
As a result of the completion of the Merger:
- Lonmin is due to receive repayment of the Mandatorily Exchangeable Notes
(MENs) and accrued interest, amounting to approximately $79 million in total,
and anticipates receiving this amount in cash on 27 April 2004. Following the
redemption of the MENs, the cash proceeds will be used to reduce Group debt.
- Lonmin will be allotted 10.44 million shares in the capital of the new
entity resulting from the Merger, AngloGold Ashanti, equating to approximately
4% of that company"s enlarged issued share capital, with a market value (based
on the closing mid-market quote for AngloGold ADR"s in New York on 23 April
2004) of approximately $347m.
- As outlined in the Chairman"s remarks at the Lonmin annual general meeting
on 5 February 2004, upon completion of the Merger, Dr Sam Jonah KBE has today
resigned from his position as a non-executive director of Lonmin, and the board
has accepted this resignation. The board thanks Dr Jonah for his enormous
contribution to Lonmin over the past 35 years, and for his service as a director
of Lonmin since 1992. The board wishes him well in his new role as President
of AngloGold Ashanti.
For further information please contact:
Lonmin Plc
John Robinson, Finance Director ) +44 (0)20 7201 6000
Cardew Chancery
Anthony Cardew ) +44 (0)20 7930 0777
END
Date: 26/04/2004 04:10:02 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
