Wrap Text
Cancellation of listing and trading of Lonmin Shares on 28 June 2019
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: 213800FGJZ2WAC6Y2L94
Recommended all-share offer for Lonmin by Sibanye-Stillwater: Cancellation
of listing and trading of Lonmin Shares on 28 June 2019
Johannesburg, 27 June 2019. Further to the announcements made by Lonmin on
7 June 2019 regarding the sanction of the Scheme by the Court and the
Scheme having become Effective, and the announcement made by Lonmin on 10
June 2019 regarding the suspension of listing and trading of Lonmin Shares,
Lonmin announces that, following applications by Lonmin, the Johannesburg
Stock Exchange will cancel the listing and trading of Lonmin Shares on the
Main Board of the Johannesburg Stock Exchange with effect from 9:00 a.m.
(South African standard time) tomorrow, 28 June 2019.
Capitalised terms used in this announcement (unless otherwise defined) have
the same meanings as set out in the Lonmin scheme circular dated 25 April
2019.
Ends.
Lonmin
Tanya Chikanza, Executive Vice President: +27 (0) 83 391 2859
Corporate Strategy, Investor Relations and +44 (0) 20 3908 1073
Corporate Communications
Gleacher Shacklock (Financial Adviser to Lonmin) +44 (0) 20 7484 1150
Dominic Lee
Jan Sanders
Jeremy Stamper
J.P. Morgan Cazenove (Financial Adviser and +44 (0) 20 7742 4000
Corporate Broker to Lonmin)
Michael Wentworth-Stanley
Dimitri Reading-Picopoulos
Henry Capper
Moshe Capital (Financial Adviser to Lonmin) +27 11 783 9986
Mametja Moshe
Konosoang Asare-Bediako
Cardew Group (Communications Adviser to Lonmin)
Anthony Cardew +44 (0) 20 7930 0777
Tom Allison
Emma Crawshaw
Sponsor: J.P. Morgan Equities South Africa (Proprietary) Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of
the "safe harbour" provisions of the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements, including,
among others, those relating to Lonmin’s and Sibanye-Stillwater’s financial
positions, business strategies, plans and objectives of management for
future operations, are necessarily estimates reflecting the best judgement
of the senior management and directors of Lonmin and Sibanye-Stillwater.
All statements other than statements of historical facts in this
announcement may be forward-looking statements. Forward-looking statements
also often use words such as "anticipate", "believe", "intend", "estimate",
"expect" and words of similar meaning. By their nature, forward-looking
statements involve risk and uncertainty because they relate to future
events and circumstances and should be considered in light of various
important factors, including those set forth in this disclaimer. Readers
are cautioned not to place undue reliance on such statements.
The important factors that could cause Sibanye-Stillwater’s and Lonmin’s
actual results, performance or achievements to differ materially from those
in the forward-looking statements include, among others, changes in
relevant government regulations, particularly environmental, tax, health
and safety regulations and new legislation affecting water, mining, mineral
rights and business ownership, including any interpretations thereof which
may be subject to dispute; economic, business, political and social
conditions in the United Kingdom, United States, South Africa, Zimbabwe and
elsewhere; a further downgrade of South Africa’s credit rating; the ability
of Sibanye-Stillwater and Lonmin to comply with requirements that they
operate in a sustainable manner; the occurrence of hazards associated with
underground and surface gold, PGMs and uranium mining; the occurrence of
temporary stoppages of mines for safety incidents and unplanned
maintenance; uncertainty regarding the title to any of Sibanye-Stillwater’s
properties; changes in the market price of gold, PGMs and/or uranium;
fluctuations in exchange rates, currency devaluations, inflation and other
macroeconomic monetary policies; Sibanye-Stillwater’s future business
prospects; financial positions; debt position and Sibanye-Stillwater’s
ability to reduce debt leverage; plans and objectives of management for
future operations; Sibanye-Stillwater’s ability to service its bond
instruments and comply with loan and other covenants; the occurrence of
labour disruptions and industrial action; changes in assumptions underlying
Sibanye-Stillwater’s and Lonmin’s estimation of their current mineral
reserves and resources; power disruption, constraints and cost increases;
the ability to hire and retain senior management or sufficient technically
skilled employees, as well as their ability to achieve sufficient
representation of historically disadvantaged South Africans in management
positions; the ability to achieve potential synergies from the Transaction;
the ability to achieve anticipated efficiencies and other cost savings in
connection with past, ongoing and future acquisitions, as well as at
existing operations; the success of Sibanye-Stillwater’s and Lonmin’s
business strategies, exploration and development activities; supply chain
shortages and increases in the price of production inputs; the adequacy of
insurance coverage; failure of information technology and communications
systems and data privacy issues; the outcome and consequence of any
potential or pending litigation or regulatory proceedings or other
environmental, health and safety issues; power disruptions, constraints and
cost increases; any social unrest, sickness or natural or man-made disaster
at informal settlements in the vicinity of some of Lonmin's and Sibanye-
Stillwater’s operations; operating in new geographies and regulatory
environments where Sibanye-Stillwater has no previous experience; the
ability to achieve steady state production at the Blitz Project; failure to
obtain the benefits of ongoing streaming arrangements; the availability,
terms and deployment of capital or credit; and the impact of HIV,
tuberculosis and other contagious diseases. These forward-looking
statements speak only as of the date of publication of this announcement.
Sibanye-Stillwater and Lonmin expressly disclaim any obligation or
undertaking to update or revise any forward-looking statement (except to
the extent legally required).
ADDITIONAL INFORMATION
Gleacher Shacklock LLP ("Gleacher Shacklock"), which is authorised and
regulated by the Financial Conduct Authority in the United Kingdom, is
acting exclusively as financial adviser to Lonmin and no one else in
connection with the Transaction and will not be responsible to anyone other
than Lonmin for providing the protections afforded to clients of Gleacher
Shacklock or for providing advice in connection with the Transaction or any
other matter referred to herein.
J.P. Morgan Securities plc, which conducts its UK investment banking
business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is authorised by
the Prudential Regulation Authority and regulated by the Financial Conduct
Authority and the Prudential Regulation Authority in the United Kingdom.
J.P. Morgan Cazenove is acting exclusively as financial adviser to Lonmin
and no one else in connection with the Transaction and will not regard any
other person as its client in relation to the Transaction and will not be
responsible to anyone other than Lonmin for providing the protections
afforded to clients of J.P. Morgan Cazenove or its affiliates, or for
providing advice in relation to the Transaction or any other matter
referred to herein.
Moshe Capital Proprietary Limited (“Moshe Capital”), which is an authorised
financial services provider and regulated in South Africa by the Financial
Sector Conduct Authority, is acting exclusively as financial adviser to
Lonmin and no one else in connection with the Transaction and shall not be
responsible to anyone other than Lonmin for providing the protections
afforded to clients of Moshe Capital nor for providing advice in connection
with the Transaction or any matter referred to herein.
Date: 27/06/2019 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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