| Wednesday, 06 July 2005 |
Official Announcement |
JLM |
The directors of Lonrho have noted the announcement by East African Holdings Ltd (`EAH`) on 5 July 05 that it is considering making a partial offer in cash for 60% of the company’s issued share capital. The possible partial offer is subject to certain pre-conditions, including EAH receiving irrevocable commitments to accept the partial offer in respect of at least 30% of the issued share capital from Lonrho`s shareholders. In accordance with Rule 36.5 of The City Code on Takeovers and Mergers (`City Code`), as the possible partial offer, if made, would result in EAH carrying 30% or more of the voting rights of Lonrho Africa it would normally be conditional on both the specific number of acceptances being received and also on the approval of Lonrho shareholders holding over 50% of the voting rights of Lonrho Africa, not held by EAH and persons acting in concert with it. The board of Lonrho Africa will seek clarification with regard to EAH`s proposal. As stated in EAH`s announcement, there can be no certainty that any partial offer will be forthcoming. Further announcements will be made as and when appropriate.
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| Wednesday, 06 July 2005 |
Official Announcement |
JLM |
East African Holdings Ltd (`EAH`) announced that it is considering making a partial offer in cash for 60% of the issued share capital of Lonrho Africa plc (`Lonrho`). This partial offer is subject to receiving irrevocable commitments to accept the partial offer of at least 30% of the issued share capital from shareholders of Lonrho. This pre-condition will not be waived. If a partial offer is made it is anticipated that it will be at a price at or around GBPp14.5 per ordinary share, which represents a premium of 16% over the closing share price of GBPp12.5p on 1 July 2005. EAH intends to approach the board of Lonrho to request additional information. The partial offer will be conditional on satisfactory due diligence. This pre-condition will not be waived. However deliberations are at an early stage and there can be no certainty that a partial offer will be made or the other terms upon which it may be made. For the avoidance of doubt this announcement does not amount to a firm intention to make an offer and there can be no certainty that an offer will be made.
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| Thursday, 12 May 2005 |
Official Announcement |
SML |
Lonrho announced that it has completed the disposal of the group`s 100 per cent. interest in Lonrho Hotels Kenya BV to a subsidiary of Kingdom Hotels Investments for a cash consideration of GBP17.05 million, of which GBP15.95 million will be payable on completion and the balance over the next 18 months subject to any necessary adjustments for warranty claims and working capital. The net proceeds of sale will result in the group`s cash surplus increasing to approximately GBP19 million. The board of Lonrho continues to follow its strategy of disposing of its residual businesses and assets in Africa, including its interest in the Hotel Cardoso SARL in Mozambique. It is the board`s current intention to return the majority of the cash surplus resulting from its disposal programme to shareholders, whilst evaluating further opportunities to maximise shareholder value.
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| Wednesday, 11 May 2005 |
Official Announcement |
ST |
Lonrho Africa shareholders on the South African register are advised that:
- in respect of those shareholders who elected to receive shares in Castle Acquisitions Plc, share certificates were posted to them by registered mail yesterday 10 May 2005;
In respect of those shareholders who did not elect to (or did not qualify to) receive Castle Acquisition Plc shares:
-in the case of certificated Lonrho Africa shareholders, cheques were posted to them today, 11 May 2005, in an amount of 2.5 pence per Lonrho Africa share held by them; and
-in respect of dematerialised Lonrho Africa shareholders, their accounts have been credited today, 11 May 2005, with an amount of ZARc28.52299885 per Lonrho Africa share held by them being the rand equivalent of the GBPp2.5 per share at the applicable R/GBP exchange rate of 11.3861:1.
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| Wednesday, 20 April 2005 |
Official Announcement |
ST |
Further to the announcements made on 21 February 2005 and 16 March 2005, Lonrho Africa has announced that the Court has duly approved the Scheme of Arrangement to effect the Demerger, and confirmed the reduction of capital of Lonrho Africa provided for under the Scheme, at a hearing held earlier today. Accordingly, the Scheme is expected to become fully effective at 17H00 on Thursday 21 April 2005 and dealings in Castle Shares are expected to commence on AIM at 08H00 on Tuesday 3 May 2005.
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| Monday, 11 April 2005 |
Official Announcement |
JLM |
Lonrho shareholders are referred to the announcement dated 6 April 2005, which advised shareholders that the record date for the demerger was 20 April 2005. Wednesday, 20 April 2005, is in fact the scheme record time, being the time at which the scheme of arrangement giving effect to the demerger will become effective. The record date, being the date on which shareholders need to be recorded in the register in order to participate in the demerger is 18 April 2005, making 11 April 2005 the last day to trade for South African dematerialised shareholders.
The revised timetable for the principal events relating to the demerger is set out below:
- Last day to trade - 11 April 2005
- Shares trade ex the entitlement to Castle Shares - 12 April 2005
- Record date - 18 April 2005
- Court hearing of the petition to sanction the scheme and to confirm the reduction of capital of Lonrho provided for under the scheme - 19 April 2005
- Scheme record time - 20 April 2005
- Pay Date - 9 May 2005
Shareholders on the South African register may not dematerialise or rematerialise their shares and no shares may be transferred between the UK and South African registers between 12 April 2005 and 18 April 2005.
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| Wednesday, 06 April 2005 |
Official Announcement |
JLM |
Lonrho shareholders are referred to the announcement made on 21 February 2005 setting out the details of the demerger by Lonhro of its wholly owned subsidiary Lonrho Africa Trade & Finance Ltd. Lonrho shareholders are advised that that at the Court Meeting, the extraordinary general meeting and the annual general meeting, held on 16 March 2005, shareholders approved all the resolutions put to the respective meetings. The relevant dates for the principal events relating to the demerger are set out below:
- Last day to trade - 13 April 2005
- Shares trade ex the entitlement to Castle Shares - 14 April 2005
- Court hearing of the petition to sanction the scheme and to confirm the reduction of capital of Lonrho provided for under the scheme - 19 April 2005
- Record date - 20 April 2005
- Pay Date - 9 May 2005
Shareholders on the South African register may not dematerialise or rematerialise their shares and no shares may be transferred between the UK and South African registers between 14 April 2005 and 20 April 2005.
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| Wednesday, 16 March 2005 |
Official Announcement |
WK |
Lonrho announced that at the court meeting, the extraordinary general meeting and the AGM, held on 16 March 2005, shareholders approved all the resolutions put to the respective meetings.
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| Monday, 21 February 2005 |
Official Announcement |
WK |
Further to the announcement made on 13 September 04, Lonrho announced details of the proposed demerger of its wholly owned subsidiary Lonrho Africa Trade & Finance Limited (LATF) on Monday, 21 February 04. Under the terms of the demerger a new holding company, Castle Acquisitions Plc, has been formed for LATF, which is to be demerged from Lonrho by way of a scheme of arrangement. It is intended that an application will be made for Castle shares to be admitted to trading on AIM. It is expected that the demerger will become effective on 21 April 2005 and that Castle shares will be admitted to trading on AIM from 3 May 2005.
A timetable showing the proposed principal events relating to the Demerger is set out below:
- Voting record time on Monday, 14 March 2005
- Court meeting on Wednesday, 16 March 2005
- Extraordinary general meeting on Wednesday, 16 March 2005
- Last day to trade on Wednesday, 13 April 2005
- Shares trade ex the entitlement on Thursday, 14 April 2005
- Court hearing of the petition to sanction the Scheme and to confirm the reduction of capital of Lonrho Africa provided for under the Scheme on Tuesday, 19 April 2005 *Record date on Wednesday, 20 April 2005
- Pay Date by 9 May 2005
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| Monday, 13 September 2004 |
Official Announcement |
WK |
Lonrho announced that it has completed the disposal of the group`s 100 percent interest in Ol Pejeta Ranching Netherlands Holdings BV for a cash consideration of USD14.75 million. The proceeds of sale will be used to eliminate Lonrho`s prevailing net debt and create a cash surplus of approximately GBP6 million. The board of Lonrho continues to investigate opportunities to maximise shareholder value, including a potential demerger of its wholly owned subsidiary Lonrho Africa Trade & Finance Ltd.
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