| Wed 6 Jul 2005, 9:04 | | Lonmin Plc - Compulsory Acquisition of remaining s |
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Lonmin Plc - Compulsory Acquisition of remaining shares of Southern Platinum
Lonmin Plc
Share code: LON
Isin: GB0031192486
LONMIN COMPULSORY ACQUISITION OF REMAINING SHARES OF SOUTHERN PLATINUM
LONDON, ENGLAND and TORONTO, ONTARIO - July 6, 2005 - Lonmin Investments Canada
Inc. (`Lonmin Investments`) announces that on June 30, 2005 it sent out a notice
of compulsory acquisition to the remaining registered holders of common shares
(`Shares`) in the capital of Southern Platinum Corp. Lonmin Investments
currently holds 85,096,881 Shares acquired pursuant to the take-over bid that
concluded on June 28, 2005, representing approximately 97.2% of the aggregate
number of Shares issued and outstanding and approximately 91.0% of the Shares on
a fully diluted basis.
In accordance with the Canada Business Corporations Act, Lonmin Investments has
transferred to CIBC Mellon Trust Company (to be held in trust) sufficient funds
to pay all remaining holders of Shares C$2.66 per Share, the amount to which
they would be entitled if they elect to receive the consideration paid to the
holders of Shares who accepted the take-over bid.
Following the completion of the compulsory acquisition, which is expected to
occur no later than July 30, 2005, Lonmin Investments will be the sole
shareholder of Southern Platinum Corp. In light of this change in circumstance,
the Board of Directors of Southern Platinum Corp. has cancelled the formal
shareholders meeting previously scheduled for August 9, 2005.
This press release includes forward-looking statements. All statements other
than statements of historical fact included in this press release, 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. 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 Plc, Lonmin Investments and Southern Platinum Corp.
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 Plc or Lonmin Investments that either
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 and Southern Platinum:
Alex Shorland-Ball, Vice President Investor Relations & Communications, Lonmin
Plc - +44 20 7201 6060
Media Enquiries:
United Kingdom:
Nadja Vetter, Anthony Cardew - CardewGroup - +44 (0)20 7930 0777
South Africa:
Johannes van Niekerk - College Hill - +27 11 447 3030 or +27 82 921 9110
Canada:
John Lute - Lute & Company - +1 416 929 5883 ext 222
Date: 06/07/2005 08:00:04 AM
Produced by the JSE SENS Department
