Lonmin shareholders provisionally approve rights issue

iStock

London - Lonmin [JSE:LON] shareholders on Thursday provisionally approved the company's proposal to raise $407m in a share issue.

The final results of the votes will be announced later in the day, the company's chairperson 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.

ZAR/USD
16.77
(+0.33)
ZAR/GBP
21.18
(+0.06)
ZAR/EUR
18.96
(+0.13)
ZAR/AUD
11.66
(+0.41)
ZAR/JPY
0.16
(-0.08)
Gold
1799.11
(-0.25)
Silver
18.69
(+0.17)
Platinum
832.00
(-0.18)
Brent Crude
42.31
(-2.17)
Palladium
1972.00
(+0.92)
All Share
55417.89
(-0.66)
Top 40
51154.08
(-0.74)
Financial 15
10472.31
(+1.28)
Industrial 25
76134.69
(-1.67)
Resource 10
52483.78
(-0.20)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1916 votes
I am taking a hit, but should be able to recover in the next year
23% - 2523 votes
My finances have been devastated
35% - 3755 votes
It's still too early to know what the full effect will be
25% - 2689 votes
Vote