To view the PDF file, sign up for a MySharenet subscription.

DIAMONDCORP PLC - Changes to the board

Release Date: 27/10/2016 08:00
Code(s): DMC     PDF:  
Wrap Text
Changes to the board

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")

BOARD CHANGES

DiamondCorp plc, the Southern Africa focussed diamond mine development and exploration
company, announces the following changes to the Board.

Further to the announcement of 20 October 2016, that Chris Ellis, current Non-Executive
Director of DiamondCorp, has been formally appointed as Independent Interim Non-Executive
Chairman with immediate effect.

The Company is also pleased to announce the appointment of Neil McDougall as a Non-
Executive Director with immediate effect.

Mr McDougall’s appointment is pursuant to the terms of the financing facility (“Facility”) with
Rasmala plc ("Rasmala") as announced on 20 October 2016, and is in addition to the
continued role of Michael Toxvaerd as Non-Executive Director of both DiamondCorp and
Rasmala.

Neil McDougall is Chief Financial Officer of Rasmala and is an experienced professional with
many years of senior management experience in international environments. Prior to joining
Rasmala, Mr McDougall has served in senior finance roles in various organisations including
Europe Arab Bank Plc, Commerzbank and Standard Chartered. In his previous roles, he has
been responsible for all aspects of Global Finance support, from performance management
and decision making through to Product Control, Valuations Control and Financial and
Regulatory Reporting.

Prior to these roles Neil also covered senior roles at Bank of Nova Scotia, Dai-Ichi Kangyo
(now Mizuho) and started his career at Kleinwort Benson Merchant Bank. He obtained his
CIMA qualification in 1993.

The Company also announces that Mr Hulme Scholes, current Non-Executive Director, has
resigned from the Board, effective immediately, but shall continue to remain a director of
DiamondCorp’s operating subsidiary Lace Diamond Mines (Pty) Limited.


Contact details:

DiamondCorp plc
Paul Loudon, Chief Executive
Tel: +27 56 216 1300
Chris Ellis, Interim Non-Executive Chairman
Tel: +44 (0) 20 3151 0970

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


Appendix

Mr Neil Thomas McDougall, aged 49, is a director of Rasmala plc and European Islamic
Investment Bank Limited and, within the last five years, was a director of CEBH Consultancy
Limited.

In addition to the Facility, Rasmala is interested in a total of 55,761,412 ordinary shares in the
Company, which represents approximately 11.6% of the issued share capital of the Company.
Mr McDougall does not have a direct beneficial shareholding in the Company.

There is no further information to be disclosed under Schedule Two paragraph (g), and Rule
17 of the AIM Rules in respect of Neil McDougall's appointment as Non-Executive Director.


This announcement contains inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No 596/2014 ("MAR").

27 October 2016
United kingdom

Date: 27/10/2016 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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.

Share This Story