Lihir Gold Limited

Lihir Gold Limited

March 26, 2008 07:15 ET

LGL (Lihir Gold) to Deliver Additional Equity for Lihirian Landowners

PORT MORESBY, PAPUA NEW GUINEA--(Marketwire - March 26, 2008) - Lihir Gold Ltd (TSX:LGG)(ASX:LGL)(NASDAQ:LIHR) ("LGL") announces that it is to issue additional equity in accordance with previous documentation entered into between LGL and customary landowners, in particular the non-binding Heads of Agreement dated 28 March 2003 between the State, Mineral Resources Lihir Limited (MRL), LGL and other Lihirian entities and the Integrated Benefits Package Revised Agreement which was signed on 2 April 2007.

Under the equity arrangements, a further 3,284,499 ordinary shares will be issued for nil cash consideration to MRL, which is the trustee of the Lihirian's Equity Trust, and held in trust for customary landowners of Lihir Island. The new shares represent a 0.17% shareholding post issue, bringing the total shareholding of MRL to 1.64%. LGL is not required to seek shareholder approval in relation to the proposed issue of shares.

The issue of the shares will be carried out in accordance with LGL's regulatory obligations under the rules of the various markets on which its shares trade, including POMSoX, the ASX, NASDAQ and the TSX.

Contact Information

  • Lihir Gold Ltd (Brisbane)
    Joe Dowling
    GM Corporate Affairs
    Mobile: 0421 587 755
    Lihir Gold Ltd (Toronto)
    Greg W Taylor
    Investor Relations & Corporate Communications
    (905) 337-7673