Lonrho appoints Jefferies Hoare Govett (2678F)

TIDMLONR

RNS Number : 2678F

Lonrho PLC

13 June 2012

Lonrho Plc ("Lonrho" or "the Company")

Lonrho appoints Jefferies Hoare Govett as Financial Advisor and Broker

Lonrho Plc is delighted to announce that it has today appointed Jefferies Hoare Govett as Financial Adviser and Corporate Broker to the Company.

Lonrho announced earlier today that it plans to list its aviation division in a separate Plc in conjunction with Sir Stelios Haji-Ioannou and easyGroup. As Lonrho does not intend to invest further in the aviation sector, over time it will become a more passive, arm's length, shareholder in the aviation business.

The focus for Lonrho management moving forward will be on developing the Lonrho agriculture and agri-logistics divisions, and the oil services and infrastructure division. These are two areas where the Company sees strong growth opportunities as the market for both in Africa is developing significantly. Both divisions have strong Africa / US linkages. For example, the agri division distributes John Deere, and has an increasing percentage of its business supplying African produce to US retailers such as Costco and Walmart. Furthermore, the majority of customers for the oil services division are US based oil service companies supporting the rapidly developing oil industry in Africa.

David Lenigas, Lonrho's Executive Chairman commented:

"Lonrho is seeing strong growth this year and we believe that Jefferies Hoare Govett have a good understanding of the opportunities developing in the emerging African marketplace combined with an unparalleled presence as a broker and financial adviser in the UK and US. Lonrho's increasing participation in businesses that have interaction between the US and Africa makes Jefferies Hoare Govett an ideal partner for the Company moving forward."

- Ends -

Enquiries:

 
  Lonrho Plc                +44 (0) 20 7016 5105 
  David Lenigas 
  Geoffrey White 
  David Armstrong 
 
  Jefferies Hoare Govett    +44 (0) 20 7029 8000 
  Sara Hale 
  Harry Nicholas 
  Simon Brown 
 
  FTI Consulting            +44 (0) 20 7831 3113 
  Edward Westropp 
   Georgina Bonham

This information is provided by RNS

The company news service from the London Stock Exchange

END

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