ROCKWELL DIAMONDS INCORPORATED - Court Orders Granted For Commencement Of Business Rescue Proceedings And Appointment Of Business Rescue Practitioner

Court Orders Granted For Commencement Of Business Rescue Proceedings And Appointment Of Business Rescue Practitioner

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 TSXV: RDI
CUSIP Number: 7743W103
(“the Company” or “Rockwell”)


COURT ORDERS GRANTED FOR THE COMMENCEMENT OF BUSINESS RESCUE PROCEEDINGS AND
APPOINTMENT OF BUSINESS RESCUE PRACTITIONER IN RESPECT OF THREE SUBSIDIARIES OF THE
COMPANY

1.     Shareholders are referred to the previous SENS announcement dated 19 May 2017, concerning the business
       rescue proceedings of the following three subsidiaries (“the Rockwell Subsidiaries”) of the Company:

1.1          Saxendrift Mine Proprietary Limited (2006/005971/07);

1.2          Rockwell Resources RSA Proprietary Limited (2005/023297/07); and

1.3          HC van Wyk Diamonds Limited (2001/006812/06).

2.     In accordance with paragraph 3.85(i) of the JSE Limited Listings Requirements, shareholders are advised that on
       18 May 2017, the High Court of South Africa (Northern Cape Division) (“Court”) granted orders placing the
       Rockwell Subsidiaries under supervision and commencing business rescue proceedings in terms of section 131
       (1) of the Companies Act No 71 of 2008 (“the Act”).

3.     Peter van den Steen and Trevor Murgatroyd were jointly appointed by the Court in terms of section 131(5) of the
       Act as the interim business rescue practitioners (“BRP”) in relation to the business rescue proceedings in each of
       the Rockwell Subsidiaries.

4.     Any affected persons (within the meaning of section 128(1)(a) of the Act are hereby advised that they are entitled
       to notice of the business rescue proceedings.

5.     Accordingly, the following documents relating to the business rescue proceedings are available for inspection on
       the website of the Company at www.rockwelldiamonds.com:

5.1          a copy of Form CoR123.1, being the Notice of Beginning of Business Rescue Proceedings;

5.2          a copy of the court order granted on 18 May 2017 and filed with the Companies and Intellectual Property
             Commission.

6.     Please note that in terms of section 132(1)(b)of the Act, in respect of each of the Rockwell Subsidiaries,
       business rescue proceedings commenced on the respective dates on which the relevant affected persons
       applied to the court for an order placing the relevant Rockwell Subsidiary under supervision in terms of section
       131(1) of the Act.

7.   Shareholders are advised that the Company’s shares remain suspended on the JSE. The BRP’s will issue monthly
     progress reports as required by the JSE.

25 May 2017

Sponsor
PSG Capital Proprietary Limited

Date: 25/05/2017 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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