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If any dividend or other distribution is authorised, declared, made or paid in respect of Lonmin Shares on or after the date of this Announcement and prior to the Effective Date, the Exchange Ratio will be adjusted downwards on an equivalent basis to reflect the amount of any such dividend or other distribution. In addition to its mining activities, the Sibanye-Stillwater Group owns and manages significant gold extraction and processing facilities.
LONDON Alliance News - Struggling platinum miner Lonmin PLC saw its shares take another hammering on Friday as it completed its 1-for share consolidation after a heavily discounted and costly rights issue almost doubled its share capital. Lonmin completed a for-1 rights issue earlier this month which was heavily discounted at only 1.
Also watch attached Creamer Media video. Redeploying employees from four loss-making shafts to four new promising projects that will operate at a profit is not possible because the company does not have the capital to restart the four viable projects.
The final results of the votes will be announced later on Thursday, Chairman Brian Beamish said after the shareholder meeting in London. The loss-making platinum producer had asked its shareholders to vote on five proposals, including consolidation of Lonmin shares.
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