LONMIN PLC - Lonmin Plc (Lonmin or the Company) to sell its 50% interest in Petrozim

Release Date: 29/06/2018 16:34
Code(s): LON
 
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Lonmin Plc (“Lonmin” or “the Company”) to sell its 50% interest in Petrozim

Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN : GB00BYSRJ698 ("Lonmin")



LEI No: 213800FGJZ2WAC6Y2L94


REGULATORY RELEASE


29 June 2018

                    Lonmin Plc (“Lonmin” or “the Company”) to sell its 50% interest in Petrozim

Lonmin Plc is pleased to announce that it has today entered into a conditional Sale of Shares Agreement to sell its
50% interest in Petrozim Line (Private) Limited (“Petrozim”) for a gross cash consideration of USD14,750,000 to the
National Oil Infrastructure Company of Zimbabwe (Private) Limited (“NOIC”) (the “Transaction”). In addition, Lonmin
will receive USD8,000,000 in the form of special dividends from Petrozim. The Transaction forms part of Lonmin’s
ongoing programme to dispose of non-core assets. The purchase price and special dividends will be paid in cash on
completion of the Transaction and will be used to improve the Company’s liquidity.

Petrozim, which is incorporated in Zimbabwe, owns and operates the Feruka to Harare fuel pipeline and currently
holds the sole and exclusive right to transport all petroleum products imported into Zimbabwe through the pipeline.
Lonmin’s interest in Petrozim has been impaired to nil and no attributable profits were recorded in the Company’s
report and accounts for the year ended 30 September 2017.

The closing of the Transaction is subject to various conditions precedent including approvals from the Zimbabwean
Competition Commission, Zimbabwe Revenue Authority, in addition to the consent of Lonmin's lending banks.
Subject to fulfilment of the conditions precedent, the Transaction is expected to complete in Q4 of FY2018.

The Standard Bank of South Africa has acted as Financial Adviser to Lonmin in relation to the Transaction.

                                                      - ENDS –


Investors / Analysts:
Tanya Chikanza                                                +27 83 391 2859/+44 20 3908 1073
(Executive Vice President: Corporate Strategy, Investor
Relations and Corporate Communications)
Andrew Mari (Investor Relations)                              +27 60 564 6419

Media:
Wendy Tlou (Head of Communications)                              +27 83 358 0049
Anthony Cardew, TB Cardew                                        +44 207 930 0777
Tom Allison, TB Cardew                                           +44 7789 998 020
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Notes to editors

Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the
world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially
catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.

Lonmin's operations are situated in the Bushveld Igneous Complex in South Africa, where more than 70% of known
global PGM resources are found.

The Company seeks to create value for shareholders through mining, refining and marketing PGMs and has a
vertically integrated operational structure - from mine to market. Underpinning the operations is the Shared Services
function which provides high quality levels of support and infrastructure across the operations.

For further information, please visit our website: http://www.lonmin.com

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd




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