Exercise of Options (3026B)

TIDMLONR

RNS Number : 3026B

Lonrho PLC

16 February 2011

LONRHO PLC

("Lonrho" or "the Company")

Exercise of Options

Issue of Equity

Directors' Dealings

Lonrho Plc (AIM:LONR) today announces that a total of 6,250,000 new ordinary shares will be issued following the exercise of 6,250,000 options pursuant to the Lonrho Plc Unapproved Company Share Option Plan ("Unapproved Plan").

The new ordinary shares will rank, pari passu, with all existing ordinary shares. Application has been made for these shares to be admitted to trading on AIM and admission is expected to take place on 22 February 2011.

As a result of the continued expansion of the Lonrho Group of companies, coupled with the new investment and financing opportunities regularly presented to the Board for consideration in line with the Company's strategy, the Company has been in a close period for the purposes of Rule 21 of the AIM Rules for Companies for some time. The result of this led to an extension to the exercise period of those options held by Directors and applicable employees which are due to expire in the first half of Lonrho's financial year ending in 2011 to 31 March 2011, as detailed in the press release dated 4 October 2010. As the Company is now out of a close period, the Directors and applicable employees have been granted permission to exercise their options before they expire.

Shares have been issued pursuant to the Unapproved Plan to the following Directors:

 
 Director             Number of new      Reason for exercise 
                       ordinary shares 
-------------------  -----------------  -------------------- 
 David Lenigas        3,500,000          Options due to 
                                          expire 
-------------------  -----------------  -------------------- 
 Emma Priestley       1,250,000          Options due to 
                                          expire 
-------------------  -----------------  -------------------- 
 Ambassador Frances   500,000            Options converted 
  Cook                                    to shares 
-------------------  -----------------  --------------------

In addition, 1,000,000 new ordinary shares will be issued pursuant to the Unapproved Plan to Jim Hughes, Company Secretary. Mr Hughes's options were also due to expire. The Board was today informed that Ambassador Cook today sold 183,748 new ordinary shares at 17.75p per share to cover the cost of the exercise.

The resulting shareholding of the above mentioned Directors is as follows:

 
                                        Resultant Percentage 
                       Total holding     holding of the 
                        as at today's    new enlarged and 
 Director               date             issued share capital 
--------------------  ---------------  ---------------------- 
 David Lenigas         3,750,000        0.32% 
--------------------  ---------------  ---------------------- 
 Emma Priestley        1,290,712        0.11% 
--------------------  ---------------  ---------------------- 
 Ambassador Frances 
  Cook                 316,252          0.03% 
--------------------  ---------------  ----------------------

The total number of ordinary shares in issue following the exercise of these options will be 1,180,364,449.

For further information: 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 
----------------------------------------  -------------------- 
 
Pelham Bell Pottinger 
----------------------------------------  -------------------- 
Charles Vivian                            +44 (0) 20 7861 3126 
----------------------------------------  -------------------- 
                                          +44 (0) 7977 297903 
----------------------------------------  -------------------- 
James MacFarlane                          +44 (0) 20 7861 3864 
----------------------------------------  -------------------- 
                                          +44 (0) 7841 672831 
----------------------------------------  -------------------- 
 
Beaumont Cornish Limited (Nomad) 
----------------------------------------  -------------------- 
Rosalind Hill Abrahams 
 Roland Cornish                           +44 (0) 20 7628 3396 
----------------------------------------  --------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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