Wrap Text
Results of AGM
ROCKWELL DIAMONDS INCORPORATED
(A company incorporated in accordance with the laws of British
Columbia, Canada)
(Incorporation number BCO354545)
(Formerly Rockwell Ventures Inc.)
(South African registration number: 2007/031582/10)
Share code on the JSE Limited: RDI ISIN: CA77434W2022
Share code on the TSX: RDI CUSIP Number: 77434W103
Share code on the OTCBB: RDIAF
ROCKWELL DIAMONDS SHAREHOLDERS PASS ALL RESOLUTIONS AT ANNUAL AND
SPECIAL GENERAL MEETING
July 26, 2013 Vancouver, BC – Rockwell Diamonds Inc. (“Rockwell” or
the “Company” (TSX: RDI; JSE: RDI) is pleased to announce that all
the resolutions put forward in its management information circular
were passed by the shareholders at the annual and special general
meeting held in Vancouver today.
Annual General Meeting results:
The resolutions which were passed at the meeting were as follows:
- The number of directors was set at seven (7);
- Mark Bristow (Chairman), James Campbell (President and CEO),
Stephen Dietrich, Dr. Willem Jacobs, Richard Linnell, Johan van ‘t
Hof and Rick Menell were re-elected as directors;
- KPMG Inc. Chartered Accountants were appointed as Auditors of the
Company for 2014;
- The Articles were altered to include advance notice provisions;
- A share bonus of a maximum of 1,000,000 Common Shares to certain
senior officers and senior staff was approved;
- A right of conversion of an outstanding and overdue 2011
convertible loan (“Loan”) into a maximum of 12,235,686 shares in
connection with amendment of the loan that is owed to the Company’s
principal shareholder, Daboll Consultants Ltd was approved; and
- An ordinary resolution authorizing an issuance of 161,539 Common
Shares to certain persons pursuant to the Company’s obligations under
a mandate agreement entered into with Allan Hochreiter (Pty) Limited
was approved.
For further information on Rockwell and its operations in South
Africa, please contact
James Campbell
CEO
+27 (0)83 457 3724
Stéphanie Leclercq
Investor Relations
+27 (0)83 307 7587
About Rockwell Diamonds:
Rockwell is engaged in the business of developing and operating
alluvial diamond mines, with the aim of becoming a mid-tier diamond
mining company. Rockwell’s operations and projects are all located in
the Republic of South Africa.
At February 28, 2013, the Group had two existing mines which it was
operating, namely Saxendrift and Klipdam (sold post financial year
end). It is currently constructing a third mine, Saxendrift Hill
Complex, which is an expansion of the Saxendrift operation that went
into production ramp up in March 2013. Saxendrift and Saxendrift Hill
Complex are located in the Middle Orange River region. The
acquisition of the Jasper property in fiscal 2013 also provided
additional resource potential at the Saxendrift operation. Rockwell’s
operation at the Tirisano Mine was put on care and maintenance in
December 2012, although economic value from production from the mine
continues through various royalty mining agreements.
Rockwell’s operations have a track record of producing large gem
quality diamonds, which comprise a significant proportion of its
production profile. The diamonds recovered from Rockwell’s mines are
frequently acquired for investment purposes. The Company has a
beneficiation agreement in place which enables it to sell rough +2.8
carat sized diamonds, receive 90% of the fair value sales price at
sale and receive the remaining 10% through, and participate equally
in, the retail profit on the sale of its stones after polishing and
finishing.
No regulatory authority has approved or disapproved the information
contained in this news release.
Forward Looking Statements
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of
applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
forward-looking statements.
Factors that could cause actual results to differ materially from
those in forward-looking statements include uncertainties and costs
related to exploration and development activities, such as those
related to determining whether mineral resources exist on a property;
uncertainties related to expected production rates, timing of
production and cash and total costs of production; uncertainties
related to the ability to obtain necessary licenses, permits,
electricity, surface rights and title for development projects;
operating and technical difficulties in connection with mining
development activities; uncertainties related to the accuracy of our
mineral resource estimates and our estimates of future production and
future cash and total costs of production. In particular there can
be no assurance that refinancing funds will be available to Rockwell
on acceptable terms or any terms at all.
For further information on Rockwell, Investors should review
Rockwell's annual Form 20-F filing with the United States Securities
and Exchange Commission www.sec.com and the Company's home
jurisdiction filings that are available at www.sedar.com.
29 July 2013
Johannesburg
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
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