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LONMIN PLC ANNOUNCEMENT

Release Date: 05/10/1999 16:41
Code(s): LON
Wrap Text
5 OCTOBER 1999

LONMIN PLC ("LONMIN") AND ASHANTI GOLDFIELDS COMPANY LIMITED ("ASHANTI"), IN WHICH LONMIN OWNS APPROXIMATELY 32% OF THE ISSUES SHARE CAPITAL, NOTE THE RECENT SPECULATION REGARDING A POTENTIAL MERGER BETWEEN THE TWO COMPANIES AND CONFIRM THAT DISCUSSIONS HAVE BEEN TAKING PLACE FOR SOME TIME WITH A VIEW TO CREATING A LEADING PRECIOUS METALS GROUP. THE GOVERNMENT OF GHANA, WHICH OWNS APPROXIMATELY 20% OF THE ISSUED SHARE CAPITAL OF THE COMPANY, IS BEING KEPT INFORMED OF THE DISCUSSIONS. DUE DILIGENCE IS ONGOING AND MAY OR MAY NOT LEAD TO LONMIN MAKING A MERGER OFFER FOR ASHANTI. END. PRESS ENQUIRIES: LONMIN PLC
CARDEW & CO. ANTHONY CARDEW (44) 171 930 0777 ASHANTI GOLDFIELDS COMPANY LIMITED
SHANDWICK CONSULTANTS JOHN GOOLD (44) 171 329 0096 ALLAN JORDAN (1) 212 309 0613

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