To view the PDF file, sign up for a MySharenet subscription.

Lonmin Plc - Compulsory Acquisition of remaining shares of Southern Platinum

Release Date: 06/07/2005 08:00
Code(s): LON
Wrap Text

Lonmin Plc - Compulsory Acquisition of remaining shares of Southern Platinum Lonmin Plc Share code: LON Isin: GB0031192486 LONMIN COMPULSORY ACQUISITION OF REMAINING SHARES OF SOUTHERN PLATINUM LONDON, ENGLAND and TORONTO, ONTARIO - July 6, 2005 - Lonmin Investments Canada Inc. ("Lonmin Investments") announces that on June 30, 2005 it sent out a notice of compulsory acquisition to the remaining registered holders of common shares ("Shares") in the capital of Southern Platinum Corp. Lonmin Investments currently holds 85,096,881 Shares acquired pursuant to the take-over bid that concluded on June 28, 2005, representing approximately 97.2% of the aggregate number of Shares issued and outstanding and approximately 91.0% of the Shares on a fully diluted basis. In accordance with the Canada Business Corporations Act, Lonmin Investments has transferred to CIBC Mellon Trust Company (to be held in trust) sufficient funds to pay all remaining holders of Shares C$2.66 per Share, the amount to which they would be entitled if they elect to receive the consideration paid to the holders of Shares who accepted the take-over bid. Following the completion of the compulsory acquisition, which is expected to occur no later than July 30, 2005, Lonmin Investments will be the sole shareholder of Southern Platinum Corp. In light of this change in circumstance, the Board of Directors of Southern Platinum Corp. has cancelled the formal shareholders meeting previously scheduled for August 9, 2005. This press release includes forward-looking statements. All statements other than statements of historical fact included in this press release, and all statements regarding plans, objectives and expected performance, are forward- looking statements. These forward-looking statements have been based on current expectations and projections about future events, including numerous assumptions. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "ambition", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "plan", "seek" or "continue" or negative forms or variations of similar terminology. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors related to Lonmin Plc, Lonmin Investments and Southern Platinum Corp. Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in forward-looking statements. Given these risks, uncertainties and assumptions, you are cautioned not to put undue reliance on any forward-looking statements. In addition, the inclusion of such forward-looking statements should under no circumstances be regarded as a representation by Lonmin Plc or Lonmin Investments that either will achieve any results set out in such statements or that the underlying assumptions used will in fact be the case. For Further Information: Lonmin and Southern Platinum: Alex Shorland-Ball, Vice President Investor Relations & Communications, Lonmin Plc - +44 20 7201 6060 Media Enquiries: United Kingdom: Nadja Vetter, Anthony Cardew - CardewGroup - +44 (0)20 7930 0777 South Africa: Johannes van Niekerk - College Hill - +27 11 447 3030 or +27 82 921 9110 Canada: John Lute - Lute & Company - +1 416 929 5883 ext 222 Date: 06/07/2005 08:00:04 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

Share This Story