26/04/2011 The London Stock Exchange congratulates Lonrho plc on its transfer from AIM to the Main Market
The London Stock Exchange today congratulates Lonrho plc, the growing conglomerate focused on the development of business opportunities in sub-Saharan Africa, on the successful graduation of trading primary listed ordinary shares from the Alternative Investment Market to the Exchange’s Main Market as a Premium Listed Company.
Lonrho plc is an Africa focused conglomerate, operating and investing in five key strategic industry sectors: agri-business, transport, infrastructure, hotels, and support services. The Company believes that these industries will be the cornerstone of developing Africa in light of the growing oil & gas, mining and agricultural development on the continent. These building blocks provide some of the foundations required for the successful economic growth of the African continent.
2011 marks ten years since Lonrho plc was last listed on the LSE’s Main Market. Since 2005 the new management has actively sought new investment opportunities in Africa, supported by shareholders large and small and has successfully revived the Lonrho brand.
Beaumont Cornish Ltd acted as sole Sponsor, with Panmure Gordon & Co as Broker.
Commenting on the listing, David Lenigas, Executive Chairman, said:
“The move back to the Main Market represents a significant vote of confidence in the Company’s strategy and vision. We will continue to seek out growth opportunities around sub-Saharan Africa that fit with the proven strategy Lonrho has adopted to date.”