Lonmin shareholders provisionally approve rights issue - CNBC Africa

Lonmin shareholders provisionally approve rights issue

Southern Africa

by Reuters 0

Lonmin shareholders provisionally approve rights issue. Photo: Wikipedia

Lonmin shareholders on Thursday provisionally approved the company's proposal to raise $407 million in a share issue.

The final results of the votes will be announced later in the day, the company's 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. Shareholders also provisionally authorised its directors to allot news shares.

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