Lonmin PLC LMI Update on Rights Issue

  Lonmin PLC (LMI) - Update on Rights Issue

RNS Number : 2721R
Lonmin PLC
15 November 2012
 



 

 

 

 

 

 

 

 

 

REGULATORY RELEASE

 

 

15 November 2012

 

                     Lonmin Plc - Update on Rights Issue

 

Lonmin Plc ("Lonmin") welcomes the support announced today from Xstrata Plc
("Xstrata") for its forthcoming Rights Issue.  Lonmin also announces that
proxy voting instructions received to date from other shareholders are
overwhelmingly in favour of the resolution to be proposed at the General
Meeting of the Company at 09:30 GMT on Monday 19 November 2012.

 

As at 15:00 GMT today, before Xstrata announced its intention to vote in
favour of the Rights Issue, 86% of the proxy voting instructions received were
in favour of the resolution to approve the Rights Issue.

 

The Board continues to abide by the highest standards of corporate governance
and will reflect on the comments made by all shareholders during the Rights
Issue process.

 

- End -

 

ENQUIRIES

 

Investors / Analysts:

Lonmin

Tanya Chikanza (Head of Investor Relations) +27 11 218 8300 /

                                             +44 20 7201 6007
Ruli Diseko (Investor Relations Manager)      +27 11 218 8373

 

Media:

Cardew Group

James Clark / Emma Crawshaw +44 20 7930 0777
Sue Vey                      +27 72 644 9777

 

Brunswick - Johannesburg

Cecilia de Almeida +27 11 502 7400 /

                     +27 83 325 9169

 

 

Notes to editors

 

Lonmin, which is listed on both the London Stock Exchange and the Johannesburg
Stock Exchange, is one of the world's largest primary producers of PGMs. These
metals are essential  for many industrial  applications, especially  catalytic 
converters  for  internal  combustion  engine  emissions,  as  well  as  their 
widespread use in jewellery.

 

Lonmin's operations  are situated  in the  Bushveld Complex  in South  Africa, 
where nearly 80% of known global PGM resources are found.

 

The Company  creates  value  for shareholders  through  mining,  refining  and 
marketing PGMs and has  a vertically integrated  operational structure -  from 
mine to market. Lonmin's mining operations extract ore from which the  Process 
Division produces refined  PGMs for  delivery to  customers. Underpinning  the 
operations is the Shared Services function which provides high quality  levels 
of support and infrastructure across the operations.

 

For further information please visit our website: http://www.lonmin.com

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
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MSCBKPDPABDDFDD -0- Nov/15/2012 17:04 GMT