Result of Firm Placing and Placing and Open Offer (8396U)

TIDMLONR

RNS Number : 8396U

Lonrho PLC

03 January 2012

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.

ALL DEFINED TERMS USED IN THIS ANNOUNCEMENT HAVE THE MEANING GIVEN TO THEM IN THE PROSPECTUS PUBLISHED BY THE COMPANY ON 13 december 2011, UNLESS OTHERWISE DEFINED HEREIN.

Lonrho Plc

Result of Firm Placing and Placing and Open Offer

On 13 December 2011, the Board of Directors of Lonrho Plc ("Lonrho" or the "Company") announced details of the Firm Placing and Placing and Open Offer of New Ordinary Shares to raise gross proceeds of approximately GBP26.9 million through the issue of 161,280,925 Firm Placing Shares and 108,217,870 Open Offer Shares pursuant to the Firm Placing and Placing and Open Offer, both at an issue price of 10 pence per New Ordinary Share. The Open Offer Shares made available pursuant to the Placing were subject to clawback to satisfy valid applications by Qualifying Shareholders pursuant to the Open Offer. The Firm Placing Shares were not subject to clawback and were not part of the Open Offer.

The Open Offer closed for acceptance at 11.00 a.m. on 30 December 2011. The Company announces that it has received valid acceptances in respect of 22,534,994 New Ordinary Shares from Qualifying Shareholders, representing approximately 20.8 per cent. of the New Ordinary Shares offered under the Open Offer. The remaining Open Offer Shares have been allocated to Firm Placees with whom they had been conditionally placed under the terms of the Firm Placing.

The Firm Placing and Placing and Open Offer are conditional, amongst other things, upon Admission occurring by no later than 8:00 a.m. on 4 January 2012 (or such later time and/or date as the Company and Panmure Gordon may agree).

Application has been made to the UKLA for the New Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities. The New Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8:00 a.m. on 4 January 2012.

The New Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on or around 8.00 a.m. on 4 January 2012 and definitive share certificates for the New Ordinary Shares are expected to be despatched to certificated shareholders by the seventh day following Admission.

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

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 of 1933. 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 US Securities Act of 1933, the relevant laws of any state of the United States or the relevant laws of any state, province or territory of any of the other Prohibited Territories and may not be offered, sold, resold, taken up, transferred, delivered or distributed, directly or indirectly, within the United States or any other Prohibited Territory except pursuant to an applicable exemption from registration requirements. There will be no public offer of New Ordinary Shares in the United States or any other 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.

Apart from the responsibilities and liabilities, if any, which may be imposed on Panmure Gordon by the Financial Services and Markets Act 2000, Panmure Gordon does not accept any responsibility whatsoever for the contents of this announcement, and makes no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, completeness or verification, or for any other statement made or purported to be made by it, or on its behalf, in connection with Lonrho or the New Ordinary Shares or the Capital Raising, and nothing in this announcement is or shall be relied upon as, a promise or representation in this respect whether as to the past or future. Panmure Gordon accordingly disclaims to the fullest extent permitted by law all and any liability whether arising in tort, contract or otherwise (save as referred to above) which it might otherwise have in respect of this announcement or any such statement.

No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings per share of Lonrho for the current or future financial years would necessarily match or exceed the historical published earnings per share of Lonrho.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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