| Fri 20 May 2005, 8:20 | | Lonmin Plc - Lonmin Plc Extends Its Recommended Ta |
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Lonmin Plc - Lonmin Plc Extends Its Recommended Takeover Offer For Southern
Platinum Corporation
Lonmin Plc
(`Lonmin`)
(Incorporated in England)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
ISIN code: GB0031192486
Share code: LON
Issuer code: LOLMI
LONMIN PLC EXTENDS ITS RECOMMENDED TAKEOVER OFFER FOR SOUTHERN PLATINUM
CORPORATION
Toronto, Ontario, May 19, 2005. Lonmin Investments Canada Inc., a wholly-owned
subsidiary of Lonmin Plc (LSE: LMI) (`Lonmin`), today announced that the
recommended offer dated April 14, 2005 (the `Offer`) to purchase for cash all
of the issued and outstanding common shares of Southern Platinum Corporation
(`SPC`) at a price of $2.66 in cash per common share has been extended.
The Offer, which was open for acceptance until 5:00 p.m. (Toronto time) on May
20, 2005, will now be open for acceptance until 5:00 p.m. (Toronto time) on June
10, 2005. A Notice of Extension is being mailed to shareholders of SPC today.
The Offer is being extended as not all of the required conditions of the Offer
contained in the Offering Circular dated April 14, 2005 have been satisfied.
The parties anticipated that complete satisfaction of all of the conditions of
the Offer could take beyond May 20, 2005. Accordingly, this extension is not
unexpected. Lonmin and SPC anticipate that all of the conditions of the Offer
could be fully satisfied or waived as early as June 10, 2005.
Lonmin reserves the right to extend the Offer for a further period as permitted
by applicable law.
Forward Looking Statements:
The Offering Circular, the Notice of Extension and this advertisement may
include forward-looking statements. All statements other than statements of
historical fact included in the Offering Circular, the Notice of Extension and
this advertisement, and all statements regarding plans, objectives and expected
performance, are forward-looking statements. These forward-looking statements
have been based on current expectations and projections about future events,
including numerous assumptions regarding present and future business strategies,
operations, and the operating environment in the future. Forward-looking
statements generally can be identified by the use of forward-looking terminology
such as `ambition`, `may`, `will`, `expect`, `intend`, `estimate`, `anticipate`,
`believe`, `plan`, `seek` or `continue` or negative forms or variations of
similar terminology.
Such forward-looking statements involve known and unknown risks, uncertainties,
assumptions and other factors related to Lonmin, Lonmin Investments Canada Inc.
(the `Offeror`) and SPC, including, among other factors: (1) the risk that the
businesses of Lonmin and SPC will not be integrated successfully; (2) material
adverse changes in economic conditions generally or in relevant markets or
industries in particular; (3) fluctuations in demand and pricing in the mineral
resource industry and fluctuations in exchange rates; (4) future regulatory and
legislative actions and conditions affecting Lonmin`s and SPC`s operating areas;
(5) obtaining and retaining skilled workers and key executives; and (6) acts of
war and terrorism.
Forward-looking statements involve risks, uncertainties and assumptions. Actual
results may differ materially from those expressed in forward-looking
statements. Given these risks, uncertainties, and assumptions, you are
cautioned not to put undue reliance on any forward-looking statements. In
addition, the inclusion of such forward-looking statements should under no
circumstances be regarded as a representation by Lonmin or the Offeror that
Lonmin or the Offeror will achieve any results set out in such statements or
that the underlying assumptions used will in fact be the case.
For Further Information:
Lonmin Plc:
Ian Farmer, Chief Strategic Officer - +44 20 7201 6004
Albert Jamieson, Vice President, Business Development - +27 11 516 1323
Jack Jones, Vice President, Business Development - +44 20 7201 6007
Southern Platinum Corp:
Chris Reynolds, Corporate Secretary - + 1 416 359 7800
Media Enquiries:
United Kingdom
Nadja Vetter, Anthony Cardew - Cardew Group - +44 20 7930 0777
South Africa:
Nicholas Williams, Johannes van Niekerk - College Hill - +27 11 447 3030
Canada:
John Lute - Lute & Company - +416 929 5883 ext 222
20 May 2005
Sponsor:
JP Morgan Equities Limited
Date: 20/05/2005 08:00:04 AM
Produced by the JSE SENS Department
