Lonrho Regulatory News (LONR)

14 Aug 2006 11:52

Lonrho Africa PLC14 August 2006 For Immediate Release Lonrho Africa Plc ("Lonrho Africa" or the "Company") Lonrho Africa Completes £12.84 million Placing Admission of Ordinary Shares The Board of Lonrho Africa is pleased to announce that Lonrho Africa has raised£12.84 million gross (£12.44 million net of expenses) by way of a placing of45,860,628 new ordinary shares of 1 pence each in the share capital of theCompany ("Placing Shares") at 28 pence per Placing Share with certaininstitutions and other investors ("Placing"). The Placing Shares will represent approximately 23 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 18 August 2006. The total number ofshares in issue following completion of the Placing will be 203,432,716. The Placing will enable the Company to maintain a balance of funds forinvestments in Africa in line with its new strategy set out at the EGM held inFebruary 2006, and will also support the project financing of Luba FreeportLimited, Lonrho Africa's 63 per cent subsidiary. For further information, please contact: Lonrho Africa Plc +44 (0)20 7016 5100David Lenigas - Joint Executive Chairman +44 (0)7881 825 378Emma Priestley - Executive Director +44 (0)7867 785 177 Strand Partners Limited +44 (0)20 7409 3494Matthew Chandler Cardew Group +44 (0)20 7930 0777Nadja Vetter +44 (0)7941 340 436Eden Mendel +44 (0)7887 676 603Emma Consett +44 (0)7971 468 308 LONRHO AFRICA Lonrho Africa is in the process of re-establishing a significant presence on theAfrican Continent. The new investment and acquisition strategy, adoptedfollowing the appointment of David Lenigas as Chief Executive in December 2005,will focus on the natural resources, infrastructure, leisure, and agribusinesssectors. Lonrho Africa has considerable experience across these industries in awide range of countries. Recently, the Company announced investments in BrinkleyMining Plc, Nare Diamonds Ltd and Luba Freeport Ltd in Equatorial Guinea. This information is provided by RNS The company news service from the London Stock Exchange