20th May 2005 07:00
Lonmin PLC20 May 2005 20 May 2005 LONMIN PLC EXTENDS ITS RECOMMENDED TAKEOVER OFFER FOR SOUTHERN PLATINUM CORPORATION Toronto, Ontario, May 19, 2005. Lonmin Investments Canada Inc., a wholly-ownedsubsidiary of Lonmin Plc (LSE: LMI) ("Lonmin"), today announced that therecommended offer dated April 14, 2005 (the "Offer") to purchase for cash all ofthe issued and outstanding common shares of Southern Platinum Corporation("SPC") at a price of $2.66 in cash per common share has been extended. The Offer, which was open for acceptance until 5:00 p.m. (Toronto time) on May20, 2005, will now be open for acceptance until 5:00 p.m. (Toronto time) on June10, 2005. A Notice of Extension is being mailed to shareholders of SPC today. The Offer is being extended as not all of the required conditions of the Offercontained in the Offering Circular dated April 14, 2005 have been satisfied. Theparties anticipated that complete satisfaction of all of the conditions of theOffer could take beyond May 20, 2005. Accordingly, this extension is notunexpected. Lonmin and SPC anticipate that all of the conditions of the Offercould be fully satisfied or waived as early as June 10, 2005. Lonmin reserves the right to extend the Offer for a further period as permittedby applicable law. Forward Looking Statements:The Offering Circular, the Notice of Extension and this advertisement mayinclude forward-looking statements. All statements other than statements ofhistorical fact included in the Offering Circular, the Notice of Extension andthis advertisement, and all statements regarding plans, objectives and expectedperformance, are forward-looking statements. These forward-looking statementshave been based on current expectations and projections about future events,including numerous assumptions regarding present and future business strategies,operations, and the operating environment in the future. Forward-lookingstatements generally can be identified by the use of forward-looking terminologysuch as "ambition", "may", "will", "expect", "intend", "estimate", "anticipate","believe", "plan", "seek" or "continue" or negative forms or variations ofsimilar terminology. Such forward-looking statements involve known and unknown risks, uncertainties,assumptions and other factors related to Lonmin, Lonmin Investments Canada Inc.(the "Offeror") and SPC, including, among other factors: (1) the risk that thebusinesses of Lonmin and SPC will not be integrated successfully; (2) materialadverse changes in economic conditions generally or in relevant markets orindustries in particular; (3) fluctuations in demand and pricing in the mineralresource industry and fluctuations in exchange rates; (4) future regulatory andlegislative actions and conditions affecting Lonmin's and SPC's operating areas;(5) obtaining and retaining skilled workers and key executives; and (6) acts ofwar and terrorism. 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 or the Offeror that Lonmin or the Offerorwill achieve any results set out in such statements or that the underlyingassumptions used will in fact be the case. For Further Information:Lonmin Plc:Ian Farmer, Chief Strategic Officer - +44 20 7201 6004Albert Jamieson, Vice President, Business Development - +27 11 516 1323Jack Jones, Vice President, Business Development - +44 20 7201 6007 Southern Platinum Corp:Chris Reynolds, Corporate Secretary - + 1 416 359 7800 Media Enquiries:United KingdomNadja Vetter, Anthony Cardew - Cardew Group - +44 20 7930 0777South Africa:Nicholas Williams, Johannes van Niekerk - College Hill - +27 11 447 3030Canada:John Lute - Lute & Company - +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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