Lonmin shareholders to vote on cut-price rescue rights issue

February 7, 2016

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Lonmin shareholders will on Thursday decide whether to approve a deeply-discounted $407-million share issue, as the beleaguered platinum producer seeks cash to stay afloat. Battered by strikes, rising costs and weak platinum prices, South Africa-focused Lonmin said last month it also planned to raise another $370-million in loans to refinance debt currently due in May 2016.

Category: General