Lonrho Completes £11.11Million Placing - Placing of Ordinary Shares

16 July 2008
Content from a Premium Partner
Lonrho (London)
press release

The Board of Lonrho is pleased to announce that the Company is raising £11.11 million gross (£10.74 million net of expenses) by way of a placing of 42,720,208 new ordinary shares of 1 pence each in the share capital of the Company ('Placing Shares') at 26 pence per Placing Share with certain institutions and other investors ('Placing').

The Placing Shares will represent approximately 10.13 per cent of the Company's enlarged issued share capital and application will be made for the admission of the Placing Shares to trading on AIM. It is expected that dealings in the Placing Shares will commence at 8.00 a.m. on 18th July 2008. The total number of shares in issue following completion of the Placing will be 421,535,203.

The Placing will enable the Company to continue the roll out of its activities.

David Lenigas, Executive Chairman, commented:

"We are delighted to raise £11 million in an uncertain market, and look forward to investing these funds to accelerate growth from Lonrho's assets."

For further information, please contact:

LONRHO ENQUIRIES

Lonrho Plc

+44 (0)20 7016 5105

David Lenigas, Executive Chairman

+44 (0)7881 825 378

Geoffrey White, Chief Executive Officer

+44 (0)7717 307 308

Emma de Borchgrave, Executive Director

+44 (0)7867 785 177

Pelham PR

Charles Vivian

+44 (0) 20 7743 6672

+44 (0) 7977 297903

James MacFarlane

+44 (0) 20 7743 6375

+44 (0) 7841 672831

Collins Stewart Europe : NOMAD to Lonrho

Hugh Field

+44 (0) 20 7523 8350

NOTES TO EDITORS

About LONRHO:

Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company's shares are traded on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services, hotels and natural resources. The Company has over 19,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.

Since 2006, the Company has invested in or acquired control of:

Hotel Cardoso - www.hotelcardoso.co.mz  (retained)

Lonrho Mining - www.lonrhomining.com

Luba Freeport - www.lubafreeport.com

Fly540 - www.fly540.com

Swissta Holdings - www.swissta.com

SA Independent Liner Services - www.saliners.com

Bytes & Pieces www.bytespieces.com

Kwikbuild - www.e-kwikbuild.co.za

LonZim - www.lonzim.co.uk

The company news service from the London Stock Exchange

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