13th Jun 2005 07:01
Lonmin PLC13 June 2005 LONMIN OFFER FOR SOUTHERN PLATINUM SUCCESSFUL LONDON, ENGLAND and TORONTO, ONTARIO - June 10, 2005 - Lonmin Investments CanadaInc. ("Lonmin Investments") announces today that the conditions of its offer(the "Offer") to acquire all of the issued and outstanding common shares (the"Shares") in the capital of Southern Platinum Corp. (TSX:SPC) have been compliedwith or waived. The Offer to acquire the Shares for cash consideration of C$2.66per Share was made by Lonmin Investments, a wholly owned subsidiary of LonminPlc (LSE:LMI), pursuant to a take-over bid circular (the "Circular") dated April14, 2005 and extended on May 19, 2005 to June 10, 2005. Lonmin Investments has been advised that, as of 5:00 p.m. (Toronto time) on June10, 2005, 81,027,739 Shares, representing approximately 92.6% of the aggregatenumber of Shares issued and outstanding and approximately 82.8% of the Shares ona fully diluted basis, have been tendered (or guaranteed for delivery) to theOffer. Lonmin Investments has taken up these Shares and will pay for such Shareswithin the prescribed time period under applicable laws. In order to allow shareholders who have not had the opportunity to tender theirShares (and be paid the consideration) under the Offer to do so, LonminInvestments has extended the Offer to 5:00 p.m. (Toronto time) on June 28, 2005.A notice of extension has been mailed to shareholders today. If the Offer is accepted by holders of not less than 90% of the Shares (asdefined in the Canada Business Corporations Act), Lonmin Investments intends toacquire all outstanding Shares not tendered to the Offer pursuant to acompulsory acquisition under the Canada Business Corporations Act as describedin the Circular. If less than 90% of the Shares (as defined in the Canada Business CorporationsAct) are tendered by 5:00 p.m. (Toronto time) on June 28, 2005, LonminInvestments intends to proceed with a subsequent acquisition transaction asdescribed in the Circular. Lonmin Investments intends to hold any specialmeeting of the shareholders of Southern Platinum Corp. required to approve thesubsequent acquisition transaction on August 9, 2005. Upon take up and paymentof the Shares tendered to the Offer to date, Lonmin Investments will hold anumber of Shares sufficient to enable all required corporate and securities lawsapprovals to be obtained at such special meeting of shareholders and to completethe subsequent acquisition transaction. **************** This press release includes forward-looking statements. All statements otherthan statements of historical fact included in this press release, and allstatements regarding plans, objectives and expected performance, areforward-looking statements. These forward-looking statements have been based oncurrent expectations and projections about future events, including numerousassumptions. Forward-looking statements generally can be identified by the useof forward-looking terminology such as "ambition", "may", "will", "expect","intend", "estimate", "anticipate", "believe", "plan", "seek" or "continue" ornegative forms or variations of similar terminology. Such forward-lookingstatements involve known and unknown risks, uncertainties, assumptions and otherfactors related to Lonmin Plc, Lonmin Investments and Southern Platinum Corp. Forward-looking statements involve risks, uncertainties and assumptions. Actualresults may differ materially from those expressed in forward-lookingstatements. Given these risks, uncertainties and assumptions, you are cautionednot to put undue reliance on any forward-looking statements. In addition, theinclusion of such forward-looking statements should under no circumstances beregarded as a representation by Lonmin Plc or Lonmin Investments that eitherwill achieve any results set out in such statements or that the underlyingassumptions used will in fact be the case. For Further Information:Lonmin Plc:Alex Shorland-Ball, Vice President Investor Relations & Communications - +44 20 7201 6060 Southern Platinum Corp:Chris Reynolds, Corporate Secretary - +1 416 359 7800 Media Enquiries:United Kingdom:Nadja Vetter or Anthony Cardew - Cardew Group - +44 (0)207 930 0777 South Africa:Johannes van Niekerk - College Hill - +27 11 447 3030 or +27 82 921 9110 Canada:John Lute - Lute & Company - +1 416 929 5883 ext 222 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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