| Fri 9 Feb 2007, 7:25 | | LON - Lonmin - Acquisition of AfriOre - Offer expi |
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LON
LOLMI
LON - Lonmin - Acquisition of AfriOre - Offer expires successfully
Lonmin Plc
(Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN: GB0031192486
("Lonmin")
Acquisition of AfriOre - Offer Expires Successfully
Remaining Shares to be Redeemed
Lonmin Plc (``Lonmin``) today announces the successful completion of its offer
(the "Offer") to acquire all of the issued and outstanding common shares (the
"Shares") in the capital of AfriOre Limited ("AfriOre"), which expired at 1:00
p.m. (Toronto time) on 8 February 2007.
Lonmin has today taken up an additional 1,315,270 Shares in accordance with
the Offer (including 132,337 Shares tended by Notice of Guaranteed Delivery),
bringing the total number of Shares taken up by Lonmin under the Offer to
50,752,450, representing approximately 96.5% of the aggregate number of Shares
issued and outstanding. The Shares taken up by Lonmin today will be paid for
within the prescribed time period.
As Lonmin has acquired over 90% of the Shares, in accordance with the laws of
the British Virgin Islands, Lonmin has today issued a notice to AfriOre
requiring AfriOre to redeem the remaining Shares not held by Lonmin (the
"Minority Shares"). It is expected that AfriOre will send a notice of the
redemption to the remaining shareholders shortly. Following the completion of
the redemption procedure, which is expected to occur on 16 February 2007,
Lonmin will be the sole shareholder of AfriOre. AfriOre has already announced
plans to cancel its listing on the Alternative Investment Market of the London
Stock Exchange, and it is expected that AfriOre will also request that its
Shares be delisted from trading on the Toronto Stock Exchange immediately
after the redemption of the Minority Shares has been completed.
09 February 2007
Enquiries:
Alex Shorland-Ball +44 (0) 20 7201 6060
Vice President, Investor Relations & Communications
Forward Looking Statements:
This announcement may include forward-looking statements. All statements other
than statements of historical fact included in this announcement, including
without limitation those regarding Lonmin`s plans, objectives and expected
performance, are forward-looking statements. Lonmin has based these forward-
looking statements on its current expectations and projections about future
events, including numerous assumptions regarding its present and future
business strategies, operations, and the environment in which it will operate
in the future. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as `ambition`, `may`, `will`, `could`,
`would`, `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, including,
among other factors: (1) the risk that the businesses of Lonmin and AfriOre
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 AfriOre`s operating areas or licensing;
(5) obtaining and retaining skilled workers and key executives; and (6) acts
of war and terrorism. By their nature, forward-looking statements involve
risks, uncertainties and assumptions and many relate to factors which are
beyond Lonmin`s control, such as future market conditions and the behaviour of
other market participants. 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 that Lonmin will achieve any results set out in such statements or that
the underlying assumptions used will in fact be the case. Other than as
required by applicable law or the applicable rules of any exchange on which
Lonmin`s securities may be listed, Lonmin has no intention or obligation to
update or revise any forward-looking statements included in this announcement
after the release of this announcement.
Date: 09/02/2007 07:25:01 Produced by the JSE SENS Department.
