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DIAMONDCORP PLC - Funding update

Release Date: 14/10/2016 08:00
Code(s): DMC     PDF:  
Wrap Text
Funding update

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", “the Group” or "the Company")

FUNDING UPDATE

Further to the announcements of 12 and 13 October 2016, DiamondCorp announces that the
third party with whom the Company has been in advanced discussions for the provision of a
convertible debt facility has withdrawn from such discussions due to the adverse movement in
the Company’s share price.

However, the Company is in accelerated discussions with certain of the Company’s
shareholders and other third parties with a view to securing the necessary additional funding
of c.£500,000 to satisfy immediate financial commitments. In the absence of a successful
resolution to these discussions, it is likely that the Group will be unable to continue trading as
a going concern in the very near term.

No assurances can be given at this stage that the provision of the required immediate term
funding will be entered into either in time or at all. Additionally, in the event that the Company
secures the required immediate term funding, there can be no certainty that the Company will
subsequently secure the necessary funding solutions to meet its longer term financial
requirements as previously announced.

The Company will update shareholders accordingly.



Contact details:

DiamondCorp plc
Paul Loudon, Chief Executive
Tel: +27 56 216 1300
Euan Worthington, Chairman
Tel: +44 7753 862 097

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

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

SA Corporate Advisor
Qinisele Resources Proprietary Limited
Dennis Tucker/Andrew Brady
Tel: +27 11 883 6358
The information communicated in this announcement is inside information for the purposes of
Article 7 of Market Abuse Regulation 596/2014 ("MAR").

14 October 2016
United Kingdom

Date: 14/10/2016 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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