LOND London Mining

TIDMLOND

RNS Number : 1312P

London Mining Plc

14 August 2014

London Mining Plc

Quoted on London AIM (LOND LN)

("London Mining" or the "Company")

14 August 2014

ADJUSTMENT TO THE USD110MILLION GUARANTEED CONVERTIBLE BONDS (THE "BONDS")

In accordance with the terms and conditions of the Bonds, an adjustment is required to be made to the Exchange Price (as defined in the terms and conditions) as a consequence of the exercise price for the Warrants which have today been issued to FirstRand Bank being set at a price which is less than 95% of the Current Market Price (being the average of the daily volume weighted price of an Ordinary Share on each of the five consecutive dealing days immediately preceding the issue of the Warrants ). With effect from the issue of the Warrants, the Exchange Price has been adjusted from GBP4.7541 to GBP4.6614.

For more information, please visit www.londonmining.com or contact:

 
 London Mining Plc 
  Graeme Hossie, Chief Executive Officer 
  Benjamin Lee, Chief Financial Officer 
  Thomas Credland, Head of Investor Relations    +44 (0)20 7408 7500 
 Liberum Capital (Nominated Adviser/Broker) 
  Richard Crawley / Tom Fyson                    +44 (0)20 3100 2000 
 J.P. Morgan Cazenove (Broker) 
  Ben Davies / Ignacio Borrell                   +44 (0)20 7742 4000 
 Brunswick Group LLP 
  Carole Cable / David Litterick                 +44 (0)20 7404 5959 
 

About London Mining

London Mining is an expanding producer of high specification iron ore concentrate for the global steel industry and is focused on identifying, developing and operating sustainable mines. London Mining commenced production from its 100% owned Marampa Mine in Sierra Leone in 2011, producing 3.4Mwmt/a in 2013 and plans to expand the mine to a capacity of 6.5Mwmt/a. Marampa has sufficient resources to support a staged expansion to 20Mwmt/a. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mwmt/a of iron ore production by developing mines in Greenland and Saudi Arabia. The Company listed on AIM in London on 6 November 2009. It trades under the symbols LOND.L (Reuters) and LOND LN (Bloomberg). More information about London Mining can be found at www.londonmining.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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