TIDMLONR
RNS Number : 8315T
Lonrho PLC
13 December 2011
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES, Australia, Canada,
Japan AND THE REPUBLIC OF South Africa and SHOULD NOT BE
DISTRIBUTED IN, FORWARDED TO OR TRANSMITTED INTO ANY JURISDICTION
WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL APPLICABLE
SECURITIES LAWS OR REGULATIONS.
This Announcement is an advertisement. It is not a prospectus.
Investors should not subscribe for or purchase any shares referred
to in this Announcement except SOLELY on the basis of information
in the prospectus to be published by LONRHO plc in connection with
the proposed Capital Raising. Copies of the prospectus will,
following publication, be available from the company's registered
office and, OTHER THAN IN RESPECT OF CERTAIN JURISDICTIONS, on its
CORPORATE website at www.LONRHO.coM.
THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES
UNLESS REGISTERED UNDER THE US SECURITIES ACT OR PURSUANT TO AN
EXEMPTION FROM SUCH REGISTRATION. NO PUBLIC OFFERING OF THE
SECURITIES DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES. THE
INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF
SECURITIES FOR SALE IN THE UNITED STATES AND THE COMPANY DOES NOT
CURRENTLY INTEND TO REGISTER ANY SECURITIES UNDER THE US SECURITIES
ACT.
the defined terms set out in appendix II apply in this
announcement.
13 December 2011
Lonrho Plc
Proposed Firm Placing and Placing and Open Offer to raise
approximately GBP26.9million gross proceeds
The Board of Directors of Lonrho Plc ("Lonrho" or the "Company")
is pleased to announce that it is proposing to raise gross proceeds
of approximately GBP26.9 million (approximately GBP25.4 million net
of expenses), through a firm placing and a placing and open offer
involving the issue of 269,498,795 New Ordinary Shares at an issue
price of 10 pence per New Ordinary Share.
Highlights
-- Gross proceeds of approximately GBP26.9 million
(approximately GBP25.4 million net of expenses) will be held by the
Company in cash or cash equivalents and then used in line with the
Group's strategy to fund the development of new business
opportunities for the Group to complement its current
operations.
-- Of the New Ordinary Shares being issued, 161,280,925 of the
New Ordinary Shares will be issued through the Firm Placing
(comprising approximately 59.8% of the total number of New Ordinary
Shares to be issued pursuant to the Capital Raising) and
108,217,870 of the New Ordinary Shares will be issued through the
Placing and Open Offer (comprising the remaining 40.2%).
-- Issue Price of 10 pence represents a discount of zero per
cent. to the Closing Price of 10 pence per Ordinary Share on 12
December 2011 (being the last trading day prior to the date of the
announcement of the Capital Raising).
-- Application has been made to the UK Listing Authority and the
London Stock Exchange for the New Ordinary Shares respectively to
be admitted to the Official List and to be admitted to trading on
the London Stock Exchange's main market for listed securities. It
is expected that Admission will take place on 4 January 2012.
-- Panmure Gordon is acting as sponsor, bookrunner and
underwriter to the Company in connection with the Capital
Raising.
David Lenigas, Executive Chairman, commented:
"We are delighted at the strong level of support from existing
and new shareholders for Lonrho to continue to develop and expand
its business. We are seeing a growing interest from global
institutions in the opportunities to take part in supporting the
growth in the agriculture, oil and mineral sectors in Africa, the
specific areas where Lonrho operates."
This summary should be read in conjunction with the full text of
this Announcement. Appendix I contains an expected timetable of key
events. Appendix II contains the definitions of certain terms used
in this Announcement.
A copy of the Prospectus, following expected publication later
today, will be available for inspection from the registered office
of the Company at Level 2, 25 Berkeley Square, London W1J 6HB and,
other than in respect of certain jurisdictions, on the Company's
corporate website at www.lonrho.com. The Prospectus will also be
available for inspection during normal business hours on any
weekday (Saturdays, Sundays and public holidays excluded) at the
offices of Panmure Gordon, 155 Moorgate, London EC2M 6XB. The
Prospectus will also be available for inspection on the National
Storage Mechanism at www.hemscott.com/nsm.do.
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
Gavin Davis
Charles Goodwin
Charlie Harrison
Important Notice
This Announcement is not a prospectus but an advertisement and
investors should not acquire any New Ordinary Shares referred to in
this Announcement except on the basis of the information contained
in the Prospectus and incorporated by reference into the
Prospectus.
Neither the content of Lonrho's website nor any website
accessible by hyperlinks to Lonrho's website is incorporated in, or
forms part of, this Announcement. The distribution of this
Announcement, the Prospectus and any other documentation associated
with the Capital Raising into jurisdictions other than the United
Kingdom may be restricted by law. Persons into whose possession
these documents come should inform themselves about and observe any
such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction. In particular, such documents should not be
distributed, forwarded to or transmitted, directly or indirectly,
in whole or in part, in or into any Prohibited Territory.
No action has been taken by Lonrho or any other person that
would permit an offer of the New Ordinary Shares or possession or
distribution of this Announcement, the Prospectus or any other
documentation or publicity material or the Application Forms in any
jurisdiction where action for that purpose is required, other than
in the United Kingdom.
The New Ordinary Shares are being offered and sold outside the
US in reliance on Regulation S under the US Securities Act. The New
Ordinary Shares have not been approved or disapproved by the US
Securities and Exchange Commission, any state securities commission
in the US or any other US regulatory authority, nor have any of the
foregoing authorities passed upon or endorsed the merits of the
offering of the New Ordinary Shares or the accuracy or adequacy of
the Prospectus or this document. Any representation to the contrary
is a criminal offence in the US.
The New Ordinary Shares have not been and will not be registered
under the relevant laws of any state, province or territory of any
of the Prohibited Territories and may not be offered, sold, resold,
taken up, transferred, delivered or distributed, directly or
indirectly, within any Prohibited Territory except pursuant to an
applicable exemption from registration requirements. There will be
no public offer of New Ordinary Shares in any Prohibited
Territory.
This Announcement is for information purposes only and does not
constitute or form part of any offer to issue or sell, or the
solicitation of an offer to acquire, purchase or subscribe for, any
securities in any jurisdiction and should not be relied upon in
connection with any decision to subscribe for or acquire any of the
New Ordinary Shares. In particular, this Announcement does not
constitute or form part of any offer to issue or sell, or the
solicitation of an offer to acquire, purchase or subscribe for, any
securities in the United States.
This Announcement has been issued by, and is the sole
responsibility of, the Company. No person has been authorised to
give any information or to make any representations other than
those contained in this Announcement and, if given or made, such
information or representations must not be relied on as having been
authorised by Lonrho or Panmure Gordon. Subject to the Listing
Rules, the Prospectus Rules and the Disclosure and Transparency
Rules, the issue of this Announcement shall not, in any
circumstances, create any implication that there has been no change
in the affairs of the Group since the date of this Announcement or
that the information contained in it is correct at any subsequent
date.
Panmure Gordon, who is authorised and regulated in the UK by the
Financial Services Authority, is acting for Lonrho and no one else
in connection with the Capital Raising and will not regard any
other person (whether or not a recipient of this Announcement) as a
client in relation to the Capital Raising and will not be
responsible to anyone other than Lonrho for providing the
protections afforded to its clients or for providing advice in
relation to the Capital Raising or any matters referred to in this
Announcement.
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