Acquisition of AfriOre - Offer Successful
January 26, 2007
Lonmin Plc (''Lonmin'') today announces that the conditions of its offer (the "Offer") to acquire all of the issued and outstanding common shares (the "Shares") in the capital of AfriOre Limited ("AfriOre") for cash consideration of C$8.75 per Share have been complied with or waived.
Lonmin has been advised that, as of 5:00 p.m. (Toronto time) on January 26, 2007, approximately 49.4 million Shares, representing approximately 94% of the aggregate number of Shares issued and outstanding and approximately 87% of the Shares on a fully diluted basis, have been tendered (or guaranteed for delivery) to the Offer. Lonmin has taken up these Shares and will pay for such Shares by January 31, 2007.
In order to permit shareholders of AfriOre who have not had the opportunity to tender their Shares (and be paid the consideration) under the Offer to do so, Lonmin has extended the Offer to 1:00 p.m. (Toronto time) on February 8, 2007
. A notice of extension has been mailed out to shareholders today.
For further information about tendering procedures or the Lonmin offer, shareholders of AfriOre may contact Innisfree M&A Incorporated at 1-888-750-5834 (English speakers in Canada and U.S.), 1-877-825-8777 (French speakers in Canada and U.S.) or 00800-7710-9970 (from the United Kingdom and other European Union countries as well as Switzerland and Norway). Banks and brokers may call collect at 1-212-750-5833.
Enquiries:
Alex Shorland-Ball +44 (0) 20 7201 6060
Vice President, Investor Relations & Communications
Forward Looking Statements:
This announcement includes forward-looking statements. Information contained in this announcement relating to AfriOre has been compiled from public sources. All statements other than statements of historical fact included in this announcement, including without limitation those regarding Lonmin's plans, objectives and expected performance, are forward-looking statements. Lonmin has based these forward-looking statements on its current expectations and projections about future events, including numerous assumptions regarding its present and future business strategies, operations, and the environment in which it will operate in the future. Forward-looking statements generally can be identified by the use of forward-looking terminology such as 'ambition', 'may', 'will', 'could', 'would', '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, including, among other factors: (1) the risk that the businesses of Lonmin and AfriOre will not be integrated successfully; (2) material adverse changes in economic conditions generally or in relevant markets or industries in particular; (3) fluctuations in demand and pricing in the mineral resource industry and fluctuations in exchange rates; (4) future regulatory and legislative actions and conditions affecting Lonmin's and AfriOre's operating areas; (5) obtaining and retaining skilled workers and key executives; and (6) acts of war and terrorism. By their nature, forward-looking statements involve risks, uncertainties and assumptions and many relate to factors which are beyond Lonmin's control, such as future market conditions and the behaviour of other market participants. 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 that Lonmin will achieve any results set out in such statements or that the underlying assumptions used will in fact be the case. Other than as required by applicable law or the applicable rules of any exchange on which Lonmin's securities may be listed, Lonmin has no intention or obligation to update or revise any forward-looking statements included in this announcement after the release of this announcement.
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