15th Jul 2008 07:00
15th July 2008
LONRHO PLC
('Lonrho' or the 'Company')
Lonrho Completes £11.11 million Placing
Placing of Ordinary Shares
The Board of Lonrho is pleased to announce that the Company is raising £11.11 million gross (£10.74 million net of expenses) by way of a placing of 42,720,208 new ordinary shares of 1 pence each in the share capital of the Company ('Placing Shares') at 26 pence per Placing Share with certain institutions and other investors ('Placing').
The Placing Shares will represent approximately 10.13 per cent of the Company's enlarged issued share capital and application will be made for the admission of the Placing Shares to trading on AIM. It is expected that dealings in the Placing Shares will commence at 8.00 a.m. on 18th July 2008. The total number of shares in issue following completion of the Placing will be 421,535,203.
The Placing will enable the Company to continue the roll out of its activities.
David Lenigas, Executive Chairman, commented:
"We are delighted to raise £11 million in an uncertain market, and look forward to investing these funds to accelerate growth from Lonrho's assets."
For further information, please contact:
LONRHO ENQUIRIES
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Lonrho Plc |
+44 (0)20 7016 5105 |
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David Lenigas, Executive Chairman |
+44 (0)7881 825 378 |
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Geoffrey White, Chief Executive Officer |
+44 (0)7717 307 308 |
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Emma de Borchgrave, Executive Director |
+44 (0)7867 785 177 |
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Pelham PR |
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Charles Vivian |
+44 (0) 20 7743 6672 |
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+44 (0) 7977 297903 |
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James MacFarlane |
+44 (0) 20 7743 6375 |
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+44 (0) 7841 672831 |
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Collins Stewart Europe : NOMAD to Lonrho |
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Hugh Field |
+44 (0) 20 7523 8350 |
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company's shares are traded on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services, hotels and natural resources. The Company has over 19,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays 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.mz (retained)
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes & Pieces www.bytespieces.com
Kwikbuild - www.e-kwikbuild.co.za
LonZim - www.lonzim.co.uk
Related Shares:
Lonrho