LONDON, May 3, 2011 /PRNewswire-FirstCall/ -- Lonrho Plc
has announced that the company has been admitted to the Premium
List of the Main Market of the London Stock Exchange and has
appointed the Rt. Hon. Sir Richard
Needham to the Board of Directors.
The move to the Premium List of the Main Market is a natural
progression as the Company continues to expand its operations
across Africa and will enable the
Company to access a wider range of investment institutions moving
forward to support the continued development of the Company.
With operations in seventeen sub Saharan African countries, the
Company is focused on developing the infrastructure and support
requirements of the oil and gas, agriculture and mineral sectors
that it sees as the economic drivers of the African economy.
The Rt. Hon Sir Richard Needham
who joins the Board of Lonrho Plc as an independent non executive
director had a distinguished career in parliament culminating in
his time as Britain's longest
serving Minister in Northern
Ireland from 1985 - 1992 and as Minister of Trade from 1992
- 1995. Sir Richard left politics in 1997 and has since focused on
the private sector, and has been a director of GEC Plc, Meggitt
Plc, and currently is the Vice Chairman of NEC Europe Ltd. He has
been on the Board of Dyson Ltd for over 15 years, and is currently
the Senior Independent Director. He has been non-executive Chairman
of Avon Rubber Plc since January
2007.
David Lenigas, Lonrho's Executive Chairman stated:
"We are delighted that Lonrho is now on the premium List of the
Main Market, which is an important step in the growth of the
Company. Investor interest in emerging Africa is growing as Africa is increasingly seen as a global
participant in the oil, gas, mineral and agricultural sectors."
http://www.lonrho.com
Enquiries:
Lonrho Plc
Geoffrey White, Chief Executive +44(0)20-7016-5105
Pelham Bell Pottinger
James MacFarlane +44(0)20-7861-3232
SOURCE Lonrho Plc