Lonmin says could "cease trading" if $400 mln rights issue not backed

by Reuters 0

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Platinum producer Lonmin could stop trading if its $400 million cash call to shareholders through a rights issue was unsuccessful, the company said.

“In those circumstances, the group may have to cease trading and shareholders could lose the entire value of their investment in the shares,” Lonmin, the world’s third largest platinum firm by output, said in a statement seen by Reuters on Wednesday.