Issue of Shares

7th Mar 2007 07:04

Dwyka Diamonds Limited07 March 2007 Dwyka Diamonds Limited ('Dwyka' or the 'Company') ISSUE OF SHARES TO ALLERTON HORIZON LIMITED Further to its announcements dated 17 January 2007 and 18 January 2007, theCompany has issued 3,237,671 fully paid ordinary shares ('Shares") to AllertonHorizon Limited pursuant to an agreement dated 17 January 2007 ("Agreement") inrelation to the acquisition of the entire share capital of Danyland Limited (theowner of the Muremera nickel project located in Burundi). The issue of theShares to Allerton Horizon Limited is in satisfaction of a payment ofUS$1,000,000 due under the Agreement in connection with the signature on 23February 2007 of the Shareholders and Earn-in Agreement with BHP Billiton (beinga project milestone of the kind contemplated in the Agreement as triggering afurther payment to the vendor). The Shares were issued pursuant to a calculation based on the average volumeweighted trading price for Dwyka Shares on the 5 trading day period prior to thecompletion date under the Agreement. The completion date was 30 January 2007 andthe average volume weighted trading price for Dwyka Shares was calculated as£0.157 (AUD$0.40). Application has now been made to the AIM Market of the London Stock Exchange("AIM") for 3,237,671 Shares to be admitted to trading on AIM ("Admission").Admission is expected to occur at 8.00am on 13 March 2007. For further information please contact: In AustraliaAdrian Griffin, Melissa SturgessDwyka Diamonds Limited(+618) 324 2955 In United KingdomRichard BrownAmbrian Partners Limited(+44) 20 7776 6417 Laurence Read/Leesa PetersConduit PR(+44) 20 7429 6605/(+44) 20 7429 6600 Or visit: http://www.dwykadiamonds.com This information is provided by RNS The company news service from the London Stock Exchange

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