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Lonmin Plc : Lonmin's BEE Partner Shanduka Moves a Step Closer to Becoming a PGMs Operator

10/03/2011| 02:20am US/Eastern
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03 October, 2011

Lonmin Plc (Lonmin) is pleased to announce that Lonmin, Western Platinum Limited (WPL), Messina Limited (Messina) and Messina Platinum Mines Limited (MPML) have entered into a conditional share subscription agreement (SSA) with Shanduka Group (Proprietary) Limited (Shanduka) offering Shanduka the opportunity of carrying out a Feasibility Review to assess the viability of it operating and developing Lonmin’s Limpopo Division. Assuming a successful outcome of the Feasibility Review, Shanduka will raise the necessary funds and will be entitled to subscribe for 50% plus one share in the issued share capital of MPML which is currently a wholly owned subsidiary of Messina (wholly owned by WPL), thereby acquiring control and operational management of Lonmin’s Limpopo Division (the Transaction).

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