Lonmin : LMI

News

• 18 Oct 2016 3 min read

  JPMorgan Small Cap wants to invest more in AIM stocks

  JPMorgan Smaller Companies has published its results for the year ended 31 July 2016. The total return on net assets before dilution was -7.7% (-6.4% after dilution), which compares with +2.1% for the benchmark index. The return to shareholders was -10.1% reflecting a widening of the share price discount to diluted net asset value from 17.0% […]

• 20 Nov 2015 1 min read

  Lonmin shareholders approve rights issue

  Shareholders in Lonmin plc, have approved a financial restructuring to enable the platinum miner to weather the low PGM price environment. Lonmin said about 88% of its shareholders approved the US$400 million rights issue at a meeting in London yesterday. The share issue was deeply discounted – at just GBp1/share, a 94% discount to the […]

• 03 Nov 2015 1 min read

  Lonmin’s platinum sales up but significant deterioration in asset value

  Lonmin plc has guided that it will more than halve its asset value and take an impairment charge of between US$1.85-2.05 billion when it releases it results for the financial year ended 30 September 2015, on 9 November. This follows the company’s adoption of a new business plan and financial restructuring that concentrates on lower […]

• 21 Oct 2015 1 min read

  Lonmin proposes debt restructuring

  Lonmin plc, the platinum producer with operations in South Africa, is proposing a financial restructuring to weather the low PGM price environment. The plan involves a US$400 million rights issue, a US$400 million new equity issue and an amendment of its debt facilities to replace the existing US$543 million, which matures in H1 2016. The […]