Lonrho: Result of Extraordinary General Meeting

9 December 2008
Content from a Premium Partner
Lonrho (London)
press release

Further to the announcement on 11 November 2008, Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African investments, is pleased to announce that all of the resolutions proposed at the Company's EGM held earlier today to approve, inter alia, (i) the issue of 308,846,000 new ordinary shares at an issue price of 5p each in the Company (the "Placing Shares"); and (ii) the general authority to allot further securities up to an aggregate nominal amount of £500,000 and the disapplication of pre-emption rights over such securities, were duly passed.

Application has been 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 Wednesday 10 December 2008.

The total number of shares in the Company in issue following completion of the Placing will be 763,819,076.

David Lenigas, Lonrho's Executive Chairman commented today:

"I am very pleased that over 80% f the votes cast were in support of the Placing announced in November in these turbulent markets. Lonrho remains bullish on African growth and economic development. Sub Saharan Africa will, in our opinion, continue to show significant economic growth over the coming years and Lonrho's mandate remains to be an integral and successful component of that growth. The net proceeds of the Placing will significantly reduce the Company's exposure to further insecurity in world financial markets."

Enquiries

LonrhoPlc +44(0)2070165105

DavidLenigas,Executive Chairman +44(0)7881825378

Geoffrey White, Chief Executive Officer +44 (0)7717 307 308

Emmade Borchgrave,ExecutiveDirector +44(0)7867785177

Pelham PR

CharlesVivian +44(0)2077436672, +44(0)7977297903

James MacFarlane +44(0)2077436375, +44(0)7841 672831

Collins Stewart Europe Limited

Hugh Field +44(0)2075238350

Read the original article on Lonrho.

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