Grant of Options (7775L)

TIDMLONR

RNS Number : 7775L

Lonrho PLC

04 August 2011

4(th) August 2011

Lonrho Plc

("Lonrho" or the "Company")

Grant of Options

The Board of Lonrho announces today the grant by the Company on 4(th) August 2011 of options over, in aggregate, 39,000,000 ordinary shares of 1p each in the share capital of the Company to Directors, senior consultant and senior management. The grants to Directors are as follows:

 
     Name        No. of share               Terms of option awards 
                 options to be 
                 granted 
                                   One Third       One Third       One Third 
 David Lenigas    10,000,000     Exercisable     Exercisable     Exercisable 
   Executive                     from: 4(th)     from: 4(th)     from: 4(th) 
    Chairman                     August 2012     August 2013     August 2014 
                                 to 3(rd)        to 3(rd)        to 3(rd) 
                                 August 2016     August 2016     August 2016 
                                 Exercise        Exercise        Exercise 
                                 Price: Mid      Price: 22p      Price: 25p 
                                 market price 
                                 at close on 
                                 3(rd) August 
                                 2011 +10% 
   Geoffrey       10,000,000     Exercisable     Exercisable     Exercisable 
     White                       from: 4(th)     from: 4(th)     from: 4(th) 
    Director                     August 2012     August 2013     August 2014 
    and CEO                      to 3(rd)        to 3(rd)        to 3(rd) 
                                 August 2016     August 2016     August 2016 
                                 Exercise        Exercise        Exercise 
                                 Price: Mid      Price: 22p      Price: 25p 
                                 market price 
                                 at close on 
                                 3(rd) August 
                                 2011 +10% 
     David         6,000,000     Exercisable     Exercisable     Exercisable 
   Armstrong                     from: 4(th)     from: 4(th)     from: 4(th) 
   Director                      August 2012     August 2013     August 2014 
                                 to 3(rd)        to 3(rd)        to 3(rd) 
                                 August 2016     August 2016     August 2016 
                                 Exercise        Exercise        Exercise 
                                 Price: Mid      Price: 22p      Price: 25p 
                                 market price 
                                 at close on 
                                 3(rd) August 
                                 2011 +10%

The grant of options was carefully considered by the Remuneration Committee and was made under the Company's Unapproved Share Option Plan.

The grant of options represent, in aggregate, 3.00% of the Company's existing issued share capital. The terms and conditions of options remain the same as previously announced options.

The mid market price on 3(rd) August 2011 was 16.75p resulting in an option price (with an uplift of 10%) of 18.4p for senior management and also for the first third of options granted to Executive Directors and a senior consultant.

The Board considers that the award of these options is in line with the Company's policy of providing incentives to the senior management of the Group to achieve its continued growth as a substantial business investing across Africa.

LONRHO ENQUIRIES

 
       Lonrho Plc               +44 (0) 20 7016 5105 
        David Lenigas 
        Geoffrey White 
        David Armstrong 
 
        Panmure Gordon           +44 (0) 20 7459 3600 
        Tim Linacre 
        Dominic Morley 
        Adam Pollock 
        Hannah Woodley 
 
        Pelham Bell Pottinger    +44 (0) 20 7861 3232 
        Charles Vivian 
       James MacFarlane

This information is provided by RNS

The company news service from the London Stock Exchange

END

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