9th May 2006 14:26
Lonrho Africa PLC09 May 2006 LONRHO AFRICA PLC ("Lonrho Africa" or "the Company") LONRHO AFRICA APPOINTS GERARD HOLDEN AS JOINT EXECUTIVE CHAIRMAN GRANT OF OPTIONS Lonrho Africa is pleased to announce the appointment of Gerard Holden as JointExecutive Chairman with effect from 26 May 2006. Mr Holden will also join theBoard of Brinkley Mining Plc, in which Lonrho Africa holds a 10% stake, asNon-Executive Chairman. Gerard Holden, 42, has more than 20 years experience in finance, 15 of which hehas spent financing projects in the commodities sector. Most recently he wasManaging Director and Global Head of Mining & Metals at Barclays Capital wherehe built a team regarded as one of the leading mining and metals originationbusinesses. His experience ranges from acquisition, corporate and projectfinancing to bond issues and advisory assignments. Mr Holden is a regularspeaker at industry events. He joined Barclays Bank in 1985, holds a BSc (Eng)with Honours from University College London and is an Associate of the CharteredInstitute of Bankers. Welcoming the appointment David Lenigas, Lonrho Africa's Chief Executive andChairman, said: "I am delighted that Lonrho Africa has attracted such a highcalibre Executive. His expertise is unparalleled and I believe that LonrhoAfrica will benefit greatly from his ability to communicate across boundariesand at the highest level. I have no doubt that Gerard will be invaluable to theCompany and look forward to working with him." In line with the incentivisation policy recently approved by shareholders, MrHolden will be granted 1.5 million ordinary shares of 1p each in the capital ofthe Company under the discretionary bonus scheme. Mr Holden will also be granted3.5 million shares of 1p each in the capital of the Company under the unapprovedshare option scheme at an exercise price of 35.5 pence per share until 25 May2011. Gerard Holden has not held any directorships or partnerships in a listed companyin the past five years. There are no further details in relation to the aboveappointment which require disclosure under paragraph (g) (iii) to (viii) ofSchedule 2 to the AIM Rules. -Ends- For further information, please contact: Lonrho Africa PlcDavid Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 Strand Partners Limited +44 (0)20 7409 3494Simon Raggett +44 (0)7769 883 666 Cardew Group +44 (0)20 7930 0777Nadja Vetter +44 (0)7941 340 436Eden Mendel +44 (0)7887 676 603 Notes to editors Lonrho Africa is in the process of re-establishing a significant presence on theAfrican continent. The new investment and acquisition strategy, which wasadopted following the appointment of David Lenigas as Chief Executive inDecember 2005, will focus on the natural resources, infrastructure and leisuresectors. Lonrho Africa's executive team has considerable experience across theseindustries in a wide range of countries. Recently, the Company announced itsfirst investment in Brinkley Mining Plc, which has important uranium andmolybdenum prospects in the Karoo region of South Africa. Lonrho Africa believesthat this investment is illustrative of the exciting opportunities available inAfrica. Lonrho Africa also announced the acquisition of a substantial directinterest in South African diamond producer Nare Diamonds Limited ("Nare").Lonrho Africa's Chairman and Chief Executive David Lenigas will becomeNon-Executive Chairman of Nare. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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