9th Feb 2007 07:01
Lonmin PLC09 February 2007 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 1:00p.m. (Toronto time) on 8 February 2007. Lonmin has today taken up an additional 1,315,270 Shares in accordance with theOffer (including 132,337 Shares tended by Notice of Guaranteed Delivery),bringing the total number of Shares taken up by Lonmin under the Offer to50,752,450, representing approximately 96.5% of the aggregate number of Sharesissued and outstanding. The Shares taken up by Lonmin today will be paid forwithin the prescribed time period. As Lonmin has acquired over 90% of the Shares, in accordance with the laws ofthe British Virgin Islands, Lonmin has today issued a notice to AfriOrerequiring AfriOre to redeem the remaining Shares not held by Lonmin (the"Minority Shares"). It is expected that AfriOre will send a notice of theredemption to the remaining shareholders shortly. Following the completion ofthe redemption procedure, which is expected to occur on 16 February 2007, Lonminwill be the sole shareholder of AfriOre. AfriOre has already announced plans tocancel its listing on the Alternative Investment Market of the London StockExchange, and it is expected that AfriOre will also request that its Shares bedelisted from trading on the Toronto Stock Exchange immediately after theredemption of the Minority Shares has been completed. Enquiries: Alex Shorland-Ball +44 (0) 20 7201 6060Vice President, Investor Relations & Communications Forward Looking Statements: This announcement may include forward-looking statements. All statements otherthan statements of historical fact included in this announcement, includingwithout limitation those regarding Lonmin's plans, objectives and expectedperformance, are forward-looking statements. Lonmin has based theseforward-looking statements on its current expectations and projections aboutfuture events, including numerous assumptions regarding its present and futurebusiness strategies, operations, and the environment in which it will operate inthe future. Forward-looking statements generally can be identified by the use offorward-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. Suchforward-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 integratedsuccessfully; (2) material adverse changes in economic conditions generally orin relevant markets or industries in particular; (3) fluctuations in demand andpricing in the mineral resource industry and fluctuations in exchange rates; (4)future regulatory and legislative actions and conditions affecting Lonmin's andAfriOre's operating areas or licensing; (5) obtaining and retaining skilledworkers and key executives; and (6) acts of war and terrorism. By their nature,forward-looking statements involve risks, uncertainties and assumptions and manyrelate to factors which are beyond Lonmin's control, such as future marketconditions and the behaviour of other market participants. Actual results maydiffer materially from those expressed in forward-looking statements. Giventhese risks, uncertainties, and assumptions, you are cautioned not to put unduereliance on any forward-looking statements. In addition, the inclusion of suchforward-looking statements should under no circumstances be regarded as arepresentation by Lonmin that Lonmin will achieve any results set out in suchstatements 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 exchangeon which Lonmin's securities may be listed, Lonmin has no intention orobligation to update or revise any forward-looking statements included in thisannouncement after the release of this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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