11th Dec 2015 16:38
LONDON (Alliance News) - Lonmin PLC Friday confirmed that HSBC, JP Morgan Cazenove and Standard Bank had procured subscribers for the remaining shares that were not taken up in its recent rights issue.
Lonmin said that there are no net proceeds from the sale of these new shares after deduction of the UK issue price of 1.00 pence per share, to be paid to the relevant holder of the rights at the time they lapsed.
The South African miner earlier Friday had confirmed it had received acceptances for 19.15 billion new shares under the rights issue, representing just under 71% of the 26.99 billion shares that were available.
Shares in Lonmin closed down 3.9% at 0.990 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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