14th Feb 2008 16:23
Lonrho PLC14 February 2008 LONRHO PLC ('Lonrho' or the 'Company') Lonrho Completes £24.50 million Placing Placing of Ordinary Shares The Board of Lonrho is pleased to announce that the Company has raised £24.50million gross (£24.25 million net of expenses) by way of a placing of 56,978,788new ordinary shares of 1 pence each in the share capital of the Company('Placing Shares') at 43 pence per Placing Share with certain institutions andother investors ('Placing'). The Placing Shares will represent approximately 15.04 per cent of the Company'senlarged issued share capital and application will be made for the admission ofthe Placing Shares to trading on AIM. It is expected that dealings in thePlacing Shares will commence at 8.00 a.m. on Wednesday 20 February 2008. Thetotal number of shares in issue following completion of the Placing will be378,814,995. The Placing will enable the Company to continue to provide the necessary fundsfor its growing investments in Africa, in particular the further expansion ofLuba Freeport in Equatorial Guinea and the planned expansion in the operationsof SA Independent Liner Services, the South African based shipping line, Fly540,the low cost pan African airline, Bytes & Pieces, the Southern Africancommercial IT solution providers company and Swissta's water bottling plants.It will also enable the Company to fund further investment opportunities thatare in line with its strategy. David Lenigas, Executive Chairman, commented: "We are pleased to have completed such a significant fundraising in difficultmarkets. These funds will enable us to pursue and accelerate the Company'sgrowth strategy across the African continent, as we look to increaseprofitability from our existing assets and increase value for our shareholders." 14 February 2008 For further information, please contact: Lonrho Plc +44 (0) 20 7016 5105David Lenigas, Executive Chairman +44 (0)7881 825 378Geoffrey White, Chief Executive Officer +44 (0)7717 307 308Emma Priestley, Executive Director +44 (0)7867 785 177Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297 903James MacFarlane +44 (0) 20 7743 6375 +44 (0) 7841 672831Collins Stewart EuropeHugh Field / Jonny Sloan +44 (0) 20 7523 8350 Notes to Editors: About Lonrho Lonrho Plc is an expanding conglomerate that is rapidly growing a successfulbusiness throughout Africa. The Company is listed on the London AIM stockexchange (LONR). Lonrho is strategically focused on the development of businessopportunities in infrastructure, communications, hotels, distribution andagribusiness. The Company has over 20,000 shareholders and substantialinstitutional backing to support its mandate to build a profitable business thatplays a fundamental role in the development of the African economy. Since 2006, the Company has invested in or acquired control of:Hotel Cardoso - www.hotelcardoso.co.mzLonrho Mining - www.lonrhomining.comLuba Freeport - www.lubafreeport.comFly540 - www.fly540.comNorse Air - www.norseair.co.zaSwissta Holdings - www.swissta.comSA Independent Liner Services - www.saliners.comBytes and Pieces - www.bytespieces.comCelsys Limited - www.celsys.co.zwKwikbuild - www.kwikbuild.co.zaLonZim - www.lonzim.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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