15th Nov 2006 07:02
Lonmin PLC15 November 2006 Redemption of Convertible Bonds Lonmin Plc ("Lonmin") will today issue notice of redemption in respect of theUS$215,795,000 3.75 per cent. Convertible Bonds due 2008 (the "Bonds"), theeffect of which is that all such Bonds will be redeemed for cash on 18 December2006 unless holders of the Bonds exercise their right of conversion. Theaggregate principal amount of the Bonds outstanding is US$199,455,000. Holders of bonds have until the close of business in London on 12 December 2006to avoid redemption by converting bonds into Lonmin ordinary shares at aconversion price of £12.3277 per share, being US$20.4023 based on the fixedexchange rate of US$1.655 = £1 provided for in the Conditions of the Bonds. Forease of reference, the holder of $1,000 worth of Bonds (being the minimumdenomination) would have the right to receive 49.0141 new ordinary shares inLonmin Plc. Taking into account fractions, full conversion would require theissue of 9,776,109 ordinary shares, meaning that the total number of ordinaryshares in issue assuming full conversion will be 154,052,372. Enquiries: Alex Shorland-Ball +44 (0)207 201 6060Vice President,Investor Relations & Communications This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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