30th Jun 2006 09:07
Lonmin PLC30 June 2006 Incwala investment in Lonmin Platinum Limpopo Lonmin is pleased to announce the inclusion of its black economic empowermentpartner Incwala Resources as an 18% shareholder in Lonmin Platinum Limpopo.Following an internal restructuring, Western Platinum Limited, in which Incwalahas an 18% stake, has acquired Messina Limited the owner of the Limpopo mine. As part of this restructuring Western Platinum has signed a 7 year US$300million facility to finance the acquisition and refinance the debt in Messina.This new facility had been provided by a syndicate of local and internationalbanks including Barclays Bank plc, Calyon Corporate and Investment Bank (SouthAfrica branch), HSBC Bank plc, Lloyds TSB Bank plc, Standard Chartered Bank(facility agent) and Standard Finance (Isle of Man) Limited. This facility will replace the acquisition facility at the Lonmin Plc level usedfor the purchase of Southern Platinum and is in line with Lonmin's strategy ofkeeping the group's debt at the cash generating operational level. Enquiries: Alex Shorland-Ball +44 (0) 20 7201 6060 Vice President, Investor Relations & Communications This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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