13 December 2011 – placing

As we forecast, Lonrho has today revealed details of a placing which will raise £25.4m net of expenses with the proceeds being used to expand the group’s operations in its African markets.  Although no specific target has been identified for the cash, some opportunities need a very quick response and so having cash available will facilitate taking advantage of such opportunities.  Of the shares being issued, approximately 161m are being placed with institutional investors, with 108m being part of a placing and open offer.  Existing shareholders are being offered 1 new share for every 12 at a price of 10p per share.  and we believe that shareholders should TAKE UP THE OFFER.