12th Jul 2016 07:00
12 July 2016
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")
Exercise of Broker Option, and directors' dealings
DiamondCorp, the Southern African diamond mining, development and exploration company, announces that, further to the Fundraise announced on 7 July 2016, Panmure Gordon (UK) Limited has exercised in full the Broker Option in respect of 8,481,660 new ordinary shares of 0.1 pence each in the Company (the "Broker Option Shares"). The net proceeds of the Broker Option will be used for working capital purposes.
The Broker Option Shares are being issued at a price of 6 pence per Broker Option Share (being equal to the Placing Price) and will be issued on the same terms and conditions as the Placing Shares pursuant to the Placing. All of the proceeds of £0.5 million arising from the issue of the Broker Option Shares will, after deduction of commissions and expenses, be received by the Company.
The Broker Option is conditional, inter alia, on admission of the Broker Option Shares to trading on the AIM Market of the London Stock Exchange plc ("AIM") becoming effective by no later than 8.00 a.m. on 15 July 2016 or such other date (being not later than 8.00 a.m. on 29 July 2016) as the Company and Panmure Gordon may agree. Application has been made for the Broker Option Shares to be admitted to trading on AIM and on the Alternative Exchange of the JSE Limited ("AltX"). Settlement for and admission of the Broker Option Shares on AIM is expected to take place on 15 July 2016. It is anticipated that admission to trading on AltX will take place before 19 July 2016.
The Company's enlarged issued ordinary share capital following the admission of the Broker Option Shares will be 478,739,580 ordinary shares. DiamondCorp does not hold any ordinary shares in treasury.
The following directors of the Company are participating in the Broker Option at the Placing Price, with the resultant beneficial shareholdings as described below:
Name | Number of Broker Option Shares | Shareholding upon Admission of Broker Option Shares | Percentage of enlarged share capital upon Admission of Broker Option Shares |
Euan Worthington | 420,000 | 3,227,766 | 0.67% |
Paul Loudon | 416,667 | 7,394,271 | 1.54% |
Jonathan Willis-Richards | 83,333 | 2,583,562 | 0.54% |
Chris Ellis | 83,333 | 83,333 | 0.02% |
The Market Abuse Regulation ("MAR") became effective from 3 July 2016. Market soundings, as defined in MAR, were taken in respect of the Fundraise with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.
Capitalised terms in this announcement, unless otherwise defined, have the same meaning given to them in the announcement issued by the Company on 7 July 2016. All times referred to in this announcement are London times.
Contact details:
DiamondCorp plc
Paul Loudon, Chief Executive
Tel: +27 56 216 1300
Euan Worthington, Chairman
Tel: +44 7753 862 097
UK Broker, Sole Placing Agent & Nominated Adviser
Panmure Gordon (UK) Limited
Adam James / Tom Salvesen / Atholl Tweedie
Tel: +44 20 7886 2500
JSE Designated Adviser
Sasfin Capital (a division of Sasfin Bank Limited)Megan Young
Tel: +27 11 445 8068
SA Corporate Adviser
Qinisele Resources Proprietary Limited
Dennis Tucker / Andrew Brady
Tel: +27 11 883 6358
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of the directors' participation in the Broker Option described above.
Euan Worthington
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Euan Worthington | ||||
2 | Reason for notification | |||||
a) | Position / status | Chairman | ||||
b) | Initial notification / amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | DiamondCorp plc | ||||
b) | LEI | (Pending) | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in DiamondCorp plc | ||||
Identification code | ISIN: GB00B183ZC46 | |||||
b) | Nature of the transaction | Purchase of new ordinary shares of 0.1 pence each in DiamondCorp plc, pursuant to the Broker Option described above. | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 2016-07-11 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
Paul Loudon
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Paul Loudon | ||||
2 | Reason for notification | |||||
a) | Position / status | Chief Executive Officer | ||||
b) | Initial notification / amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | DiamondCorp plc | ||||
b) | LEI | (Pending) | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in DiamondCorp plc | ||||
Identification code | ISIN: GB00B183ZC46 | |||||
b) | Nature of the transaction | Purchase of new ordinary shares of 0.1 pence each in DiamondCorp plc, pursuant to the Broker Option described above. | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 2016-07-11 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
Jonathan Willis-Richards
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jonathan Willis-Richards | ||||
2 | Reason for notification | |||||
a) | Position / status | Non-Executive Director | ||||
b) | Initial notification / amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | DiamondCorp plc | ||||
b) | LEI | (Pending) | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in DiamondCorp plc | ||||
Identification code | ISIN: GB00B183ZC46 | |||||
b) | Nature of the transaction | Purchase of new ordinary shares of 0.1 pence each in DiamondCorp plc, pursuant to the Broker Option described above. | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 2016-07-11 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
Chris Ellis
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Christopher Ellis | ||||
2 | Reason for notification | |||||
a) | Position / status | Non-Executive Director | ||||
b) | Initial notification / amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | DiamondCorp plc | ||||
b) | LEI | (Pending) | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.1 pence each in DiamondCorp plc | ||||
Identification code | ISIN: GB00B183ZC46 | |||||
b) | Nature of the transaction | Purchase of new ordinary shares of 0.1 pence each in DiamondCorp plc, pursuant to the Broker Option described above. | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 2016-07-11 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
Related Shares:
DCP.L