Lonrho shareholders approve merger

Lonrho shareholders approve merger

Lonrho yesterday gained shareholder consent for the proposed merger of its platinum interests with those of Impala/Gencor. However, the conduct of the meeting was immediately criticised by Tiny Rowland, the founder of the company, who was opposed to the deal.

He said the company relied on the proxies of absent shareholders to vote the deal through.

Lonrho said the completion of the merger was now conditional only on the approval of the Impala shareholders at a meeting scheduled for December 5 and on regulatory and legal clearances.