LONR Lonrho

    RNS Number : 5237Z
  Lonrho PLC
  21 July 2008
   

    21st July 2008 
    LONRHO PLC
    ('Lonrho' or the 'Company')

    Lonrho Raises Second Round Financing of �8.7 million to complete 
    the Company's target of US$ 40 million ( �19.8m ) 


The Board of Lonrho is pleased to announce that the Company has raised an additional �8.69 million (�8.4 million net of expenses) by way of
a second placing of 33,437,873 new ordinary shares of 1 pence each ('Placing Shares') in the share capital of the Company at 26 pence per
Placing Share with institutions (the 'Placing'). This second round financing is in addition to the �11.11 million placing announced by the
Company on 15th July 2008 achieving the Company*s target to raise US$ 40 million (�19.8m).

These latest Placing Shares will represent approximately 7.35% 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
25th July 2008. The total number of shares in issue following completion of the Placing will be 454,973,076.

    The Placing will enable the Company to continue to invest in its growth strategy through the roll out of its activities and operations
across Africa.

    These latest round of financing of �19.8 million, in conjunction with the �24.5 million raised in February 2008, completes the financing
authority of the Board authorized by shareholders in November 2007.

    David Lenigas, Executive Chairman, commented:

    "We are delighted to have raised a total of �19.8 million in these very uncertain market conditions. These new funds will allow us to
continue to grow the Company's presence in Africa. Lonrho now has a strong treasury and continues to maintain no debt to the parent company,
putting the Company in a sound position to weather the current market downturn and continue, uninterrupted in its strategy of creating and
building businesses that build and improve Africa." 

    For further information, please contact:

    LONRHO ENQUIRIES

 Lonrho Plc                                    +44 (0)20 7016 5105
 David Lenigas, Executive Chairman             +44 (0)7881 825 378
 Geoffrey White, Chief Executive Officer       +44 (0)7717 307 308
 Emma de Borchgrave, Executive Director        +44 (0)7867 785 177
                                                
 Pelham PR                                      
 Charles Vivian                                +44 (0) 20 7743 6672
                                               +44 (0) 7977 297903
 James MacFarlane                              +44 (0) 20 7743 6375
                                               +44 (0) 7841 672831
                                                
 Collins Stewart Europe : NOMAD to Lonrho Plc   
 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 




This information is provided by RNS
The company news service from the London Stock Exchange
 
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