DIAMONDCORP PLC - Appointment of administrators and Resignation of Nominated Adviser and Broker

Release Date: 10/05/2017 07:05
Code(s): DMC
Wrap Text
Appointment of administrators and Resignation of Nominated Adviser and Broker

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 Company” or “the Group”)

Appointment of administrators and Resignation of Nominated Adviser and Broker

Further to the announcement on 28 April 2017, DiamondCorp, announces that the
appointment of Stephen Cork and Jo Milner of Cork Gully LLP as joint administrators to
DiamondCorp plc has today become effective.

The business address of Cork Gully LLP is 52 Brook Street, London, W1K 5DS.

The Directors intend to continue to work with both the joint administrators of DiamondCorp plc
and the joint Business Rescue Practitioners of the Company’s operating subsidiary Lace
Diamond Mines (Pty) Ltd in order to try and preserve any remaining stakeholder value.

As a result of the appointment of administrators, and with mutual agreement by the Board,
Panmure Gordon (UK) Limited has concurrently resigned as Nominated Adviser and Broker
to the Company with immediate effect. Pursuant to AIM Rule 1, and in addition to Rule 41
described below, if a replacement Nominated Adviser is not appointed within one month, the
admission of the Company's securities will be cancelled on AIM. The Company has no
current intention of appointing a replacement Nominated Adviser.

The suspension to trading in the Company’s shares on AIM and AltX, as announced on 14
November 2016, remains effective. Pursuant to Rule 41 of the AIM Rules for Companies, the
Company’s admission to trading on AIM is therefore currently due to be cancelled on 15 May
2017, being in advance of the anticipated cancellation pursuant to Rule 1 as described above.
The status of the admission to trading on AltX will be advised as soon as possible.

Further announcements will be made by the Company as appropriate.

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

Contact details:

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

Joint Administrators
Cork Gully LLP
Stephen Cork and Jo Milner
+44 (0) 20 7268 2150

JSE Designated Adviser
Sasfin Capital (a division of Sasfin Bank Limited)
Megan Young
Tel: +27 11 445 8068
United Kingdom
10 May 2017

Date: 10/05/2017 07:05:00 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.

Email this JSE Sens Item to a Friend.

Share This Story