Lonmin issues do or die rights offer circular

[miningmx.com] – LONMIN said if shareholders did not support a $400m rights offer later this month the company could cease trading.

In an article by BDLive, the UK platinum firm is quoted to have said in a circular ahead of the rights issue that there were serious consequences should the rights offer fail as investment banks would not refinance the company’s debt.

“In those circumstances, the group may have to cease trading and shareholders could lose the entire value of their investment in the shares,” it said.

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