Southern Platinum has announced it is postponing plans for its annual and special meeting of shareholders as it mulls over a takeover bid from Lonmin.

The firm says that the date is being put back in order to allow shareholders more time to consider the offer and to ensure that all the necessary protocols are in place before a decision is taken.

Originally the meeting was set for June 28th, 2005, but will now take place on August 9th.

The board said that it felt if the original meeting date was kept then shareholders would not have the relevant materials on the proposed takeover.

There was also concern that time might be needed if Lonmin didn't obtain 100 per cent of the shares through the offer - with further steps, including making the company private, then likely.

Approval for the movement of the meeting has been granted by the Toronto Stock Exchange, with the tow firms now turning their attention the takeover.

The bid is worth around $190 million - or $2.66 in cash per common share - and would see Lonmin acquire Southern Platinum's Messina platinum mine in South Africa, where production is expected to rise to 75,000 ounces a year.