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DMC - DiamondCorp plc - Placing to raise GBP3.48 million DiamondCorp plc JSE share code: DMC & AIM share code: DCP ISIN: GB00B183ZC46 (Incorporated in England and Wales) (Registration number 05400982) (SA company registration number 2007/031444/10) ("DiamondCorp" or "the Company") Placing to raise GBP3.48 million NOT FOR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IF TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION HIGHLIGHTS - The Company has placed 26,794,397 new ordinary shares of 3 pence each in the Company at a price of 13 pence per share to raise approximately GBP3.48 million (before expenses) (the "Placing"); - The proceeds of the Placing are to be applied to the Company`s kimberlite exploration activities in Botswana and working capital for activities in South Africa. Introduction The Board of DiamondCorp, the southern African diamond development and exploration company, is pleased to announce that it has placed 26,794,397 new ordinary shares of 3 pence each in the Company at a price of 13 pence per share to raise, in aggregate, GBP 3.48 million gross proceeds for the Company (approximately GBP3.3 million net of expenses). The Placing Price represents a discount of 0.95 per cent. to the closing mid-market price of 13.125p on 15 June 2011. Use of Proceeds The proceeds of the Placing are expected to be applied as follows: GBP million Mini-bulk test, including large diameter drilling of 1.50 kimberlite exploration projects in Botswana. General working capital 1.80 Placing expenses 0.18 Total 3.48 Details of the Placing The Company currently has authority to issue a total of 19,693,882 ordinary shares of 3p each in the Company. Therefore the Placing will comprise: (i) 19,693,882 ordinary shares of 3p each in the Company (the "Placing Shares"); and (ii) 7,100,515 ordinary shares of 3p each in the Company which will be placed subject to shareholder approval at the next annual general meeting of the Company (the "Conditional Placing Shares"). Notice of the annual general meting will be sent to shareholders shortly and is expected to be held on or around 25 July 2011. Placing Shares Application has been made to the London Stock Exchange and the JSE for the Placing Shares to be admitted to trading on AIM and AltX. It is expected that Admission will become effective and that trading in the Placing Shares will commence on AIM and AltX at 8.00 am UK time on 22 June 2011. The Placing Shares will rank pari passu with the existing ordinary shares. Following the issue of the Placing Shares there will be a total of 203,567,533 ordinary shares of 3 pence each in the capital of the Company. Conditional Placing Shares The issue of the Conditional Placing Shares is subject to shareholder approval at the next annual general meeting of the Company. Should the relevant resolutions at the AGM be passed by shareholders, application will be made to the London Stock Exchange and the JSE for the Conditional Placing Shares to be admitted to trading on AIM and AltX. It is expected that Admission will become effective and that trading in the Conditional Placing Shares will commence on AIM and AltX at 8.00 am UK time on or around 26 July 2011. The Conditional Placing Shares will rank pari passu with the existing ordinary shares. Following the issue of the Conditional Placing Shares there will be a total of 210,668,048 ordinary shares of 3 pence each in the capital of the Company. 16 June 2011 Contact details: DiamondCorp plc Paul Loudon, Chief Executive Tel: +44 20 3151 0970 Fairfax I.S. PLC AIM Nomad and Broker Ewan Leggat/Laura Littley Tel: +44 207 598 5368 Ocean Equities Limited Guy Wilkes Tel: +44 207 786 4370 PSG Capital (Pty) Limited John-Paul Dicks Tel: +27 21 887 9602 Russell & Associates Charmane Russell/Marion Brower Tel: +27 11 880 3924 Blythe Weigh Communications Ana Ribero Tel +44 020 7138 3206 Date: 17/06/2011 07:05:08 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
