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DUIKER/TWEEFONTEIN/LONMIN PROFIT WARNING AND FURTHER JOINT CAUTIONARY

Release Date: 10/02/2000 16:32
Code(s): DUK TWE LON
Wrap Text
DUIKER MINING LIMITED
(REGISTRATION NUMBER 05/22288/06)
("DUIKER")
TWEEFONTEIN UNITED COLLIERIES LIMITED
(REGISTRATION NUMBER 01/05279/06)
("TWEEFONTEIN")
LONMIN PLC
(REGISTRATION NUMBER 69/00015/10)
("LONMIN")

PROFIT WARNING AND FURTHER JOINT CAUTIONARY ANNOUNCEMENT 1. PROFIT WARNING - DUIKER
DUIKER STATED IN ITS CONSOLIDATED RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 30 SEPTEMBER 1999 THAT IT IS HIGHLY GEARED TOWARDS EXPORTS AND DESPITE THE OUTLOOK FOR EXPORT PRICES BEING SOMEWHAT MORE OPTIMISTIC IN THE MEDIUM TO LONG TERM, THE GROUP'S EARNINGS ARE EXPECTED TO BE LOWER FOR THE FORTHCOMING YEAR. EXPORT PRICES HAVE NOT IMPROVED TO THE EXTENT ANTICIPATED AND AS A RESULT SHAREHOLDERS ARE ADVISED THAT DUIKER IS EXPECTED TO MAKE A LOSS, AFTER INTEREST AND AMORTISATION, FOR THE HALF-YEAR TO 31 MARCH 2000. 2. PROFIT WARNING - TWEEFONTEIN
TWEEFONTEIN'S ONLY ASSET IS AN INVESTMENT HOLDING IN DUIKER, AND THE ATTENTION OF SHAREHOLDERS OF TWEEFONTEIN IS DRAWN TO THE ABOVE PROFIT WARNING IN RESPECT OF DUIKER. 3. FURTHER JOINT CAUTIONARY ANNOUNCEMENT
FURTHER TO THE JOINT CAUTIONARY ANNOUNCEMENT PUBLISHED IN THE PRESS ON 31 JANUARY 2000, LONMIN, DUIKER, AND TWEEFONTEIN SHAREHOLDERS ARE ADVISED THAT LONMIN IS STILL CONSIDERING VARIOUS STRATEGIC ALTERNATIVES IN RESPECT OF ITS CONTROLLING INTEREST IN DUIKER AND TWEEFONTEIN. SHAREHOLDERS ARE ACCORDINGLY ADVISED TO CONTINUE EXERCISING CAUTION WHEN DEALING IN LONMIN, DUIKER AND TWEEFONTEIN SHARES UNTIL A FURTHER ANNOUNCEMENT IS MADE. JOHANNESBURG 11 FEBRUARY 2000

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