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DIAMONDCORP PLC - Result of the Open Offer

Release Date: 06/07/2015 08:00
Code(s): DMC     PDF:  
Wrap Text
Result of the Open Offer

DiamondCorp plc
AIM share code: DCP & JSE share code: DMC
ISIN: GB00B183ZC46
(Incorporated in England and Wales)
(Registration number 05400982)
(SA company registration number 2007/031444/10)
("DiamondCorp" or "the Company")


Result of Open Offer

DiamondCorp, the Southern African focussed diamond development, exploration and mining
company, is pleased to announce the results of the Open Offer, details of which were
announced on 17 June 2015.

Under the Open Offer, valid applications have been received from Eligible Shareholders in
respect of their Basic Entitlements for in aggregate, 13,380,558 Open Offer Shares,
representing 64.0 per cent. of the Open Offer Shares. As a consequence, 7,513,705 Open
Offer Shares were available pursuant to the Excess Application Facility. Valid
applications received from Eligible Shareholders pursuant to the Excess Application Facility
have been received in respect of 36,819,674 Excess Shares, representing 4.9 times the
Excess Shares available. Accordingly, Eligible Shareholders will receive an approximate rate
of 20.4 per cent. of their application under the Excess Application Facility.

DiamondCorp has therefore raised the maximum proceeds through the Open Offer and
Placing for a total of £5.27 million (gross).

Euan Worthington, Chairman, commented:

"The Board is very pleased at the high level of over-subscription for the Open Offer and that
the majority of shareholders have been able to participate on the same terms as the recent
Placing to institutions. We thank shareholders for their continuing support and look forward
to an exciting future"

Shareholdings of the Directors

Certain Directors of DiamondCorp have subscribed in the Open Offer and further details with
regards to their updated shareholdings will be announced in due course.


Admission and Dealings

It is expected that Admission of the 20,894,263 new Ordinary Shares will become effective
on 7 July 2015. Following Admission, the Company will have 376,096,741 Ordinary Shares
in issue, all of which have voting rights.

The above figure of 376,096,741 may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their interest in
DiamondCorp under the FCA's Disclosure and Transparency Rules.
This announcement should be read in conjunction with the full text of the Circular published
by the Company on 17 June 2015. Definitions used in the Circular shall have the same
meanings when used in this announcement unless the context otherwise requires.

Contact details:

DiamondCorp plc
Euan Worthington, Chairman
Tel: +44 7753 862 097

Paul Loudon, CEO
Tel: +27 828 246 897

UK Broker & Nomad
Panmure Gordon (UK) Limited
Dominic Morley / Adam James
Tel: +44 20 7886 2500

SA Corporate Advisor
Qinisele Resources Proprietary Limited
Dennis Tucker / Andrew Brady
Tel: +27 11 883 6358


JSE Designated Advisor
Sasfin Capital (a division of Sasfin Bank Limited)
Megan Young
Tel: +27 11 809 445 8068


6 July 2015

Date: 06/07/2015 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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