London - Lonmin [JSE:LON] shareholders on Thursday provisionally approved the company's proposal to raise $407m in a share issue.
The final results of the votes will be announced later in the day, the company's chairperson Brian Beamish said after the shareholder meeting in London.
The loss-making platinum producer had asked its shareholders to vote on five proposals, including consolidation of Lonmin shares. Shareholders also provisionally authorised its directors to allot news shares.