3rd Dec 2015 17:48
LONDON (Alliance News) - DiamondCorp PLC on Thursday said it has raised GBP4.0 million in a placing of 66.7 million new shares at six pence each.
The placing, which was proposed the previous day, will be conducted in two stages.
The first tranche of 32.3 million shares is being placed using existing authorities granted by shareholders, whereas the second tranche of 34.3 million shares requires shareholder approval.
Three directors are participating in the second tranche of the placing.
Chairman Euan Worthington and Chief Executive Paul Loudon are each acquiring 830,000 shares. Worthington will therefore own 2.8 million shares in the company, equivalent to a 0.6% stake. Loudon's purchase will take his total to just shy of 7.0 million shares, equivalent to a 1.6% stake.
Jonathan Richards, a non-executive director, is buying 167,000 shares, taking his total holding to 2.5 million shares. That is equivalent to roughly 0.6% of the company.
Shares in DiamondCorp closed down 14% at 6.32p.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DCP.L