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BRIEF-Lonmin says subsidiary WPL to lend about $22 mln to Incwala
September 18, 2014 / 1:46 PM / 3 years ago

BRIEF-Lonmin says subsidiary WPL to lend about $22 mln to Incwala

Sept 18 (Reuters) - Lonmin Plc :

* Western Platinum Limited, a subsidiary of company, has today entered into certain commitments with Incwala Platinum (Proprietary) Limited (“Incwala”)

* WPL will advance a non-interest bearing loan to Incwala, and commits to make a further such loan in March 2015

* WPL will advance sum of 242 million rand (circa $22 million at current exchange rates) to Incwala on or before 30 September 2014

* Loans will be repaid over time by relevant subsidiary of Lonmin withholding sums that would otherwise be payable to incwala by way of dividend

* Loans will enable Incwala to meet covenants and other obligations Source text for Eikon: Further company coverage:

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