21 Jul 2008 13:13
21st July 2008
LONRHO PLC
('Lonrho' or the 'Company')
Lonrho Raises Second Round Financing of £8.7 million to complete
the Company's target of US$ 40 million ( £19.8m )
The Placing will enable the Company to continue to invest in its growth strategy through the roll out of its activities and operations across Africa.
These latest round of financing of £19.8 million, in conjunction with the £24.5 million raised in February 2008, completes the financing authority of the Board authorized by shareholders in November 2007.
David Lenigas, Executive Chairman, commented:
"We are delighted to have raised a total of £19.8 million in these very uncertain market conditions. These new funds will allow us to continue to grow the Company's presence in Africa. Lonrho now has a strong treasury and continues to maintain no debt to the parent company, putting the Company in a sound position to weather the current market downturn and continue, uninterrupted in its strategy of creating and building businesses that build and improve Africa."
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 Plc |
|
| 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