29th Oct 2010 12:22
FOR IMMEDIATE RELEASE 29 October 2010
LONRHO PLC
("Lonrho" or the "Company")
General Meeting approves conversion rights for US$ 70m guaranteed convertible bond
The Company is pleased to announce that at the General Meeting held today, the Resolution was passed to authorise the grant of the conversion rights under the US$ 70,000,000 guaranteed convertible bonds issued by LAH Jersey Limited the Company's wholly owned direct subsidiary.
David Lenigas, Lonrho Executive Chairman stated :
I am delighted that there was overwhelming support from shareholders for the Company entering into the US$70 million guaranteed convertible bond. This is a significant step for the growth of the Company. The proceeds of the bond will be utilised to restructure some existing expensive debt in Africa and fast track the expansion of Lonrho's agricultural division's ability to produce, source and deliver fish, fruit and vegetables from Southern Africa to the exciting USA retail sector.
Enquiries
Lonrho Plc | |
David Lenigas, Executive Chairman | +44 (0)20 7016 5105 |
Geoffrey White, Chief Executive Officer | +44 (0)20 7016 5105 |
David Armstrong, Finance Director | +44 (0)20 7016 5105 |
Emma Priestley, Executive Director | +44 (0)20 7016 5105 |
Beaumont Cornish Limited (Nomad) | |
Rosalind Hill Abrahams | +44 (0) 20 7628 3396 |
Pelham Bell Pottinger | |
Charles Vivian | +44 (0) 20 7861 3126 |
+44 (0) 7977 297 903 | |
James MacFarlane | +44 (0) 20 7861 3864 |
+44 (0) 7841 672 831 |
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