Issue of shares

21st Dec 2005 07:00

Dwyka Diamonds Limited21 December 2005 Dwyka Diamonds Limited Issue of shares under the Dwyka Diamonds Share Plans Existing Share Plan Dwyka Diamonds Limited ("Dwyka" or "the Company") announces that in accordancewith the shareholder approval received on 30 November 2005, it has today issued750,000 shares under the terms of the Dwyka Diamonds Existing Share Plan to twodirectors of the Company. The shares issued today under the terms of the Dwyka Diamonds Existing SharePlan will not be quoted on the Australian Stock Exchange ("ASX") or the AIMMarket of the London Stock Exchange Plc ("AIM"), and may not be sold orotherwise dealt with until the later to occur of the following: (a) the loan in respect of those shares has been repaid in full; and (b) in respect of: (i) one third of the shares issued, 12 months after the date of the issue of the shares (21 December 2006); (ii) another one third of the shares issued, 24 months after the date of the issue of the shares (21 December 2007); and (iii) the remaining one third of the shares issued, 36 months after the date of the issue of the shares (21 December 2008). Replacement Share Plan The Company makes a further announcement that in accordance with the shareholderapproval received on 30 November 2005, it has today issued 3,350,000 sharesunder the terms of the Dwyka Diamonds Replacement Share Plan to employees anddirectors of the Company. The shares issued today under the terms of the Dwyka Diamonds Replacement SharePlan will not be quoted on ASX or AIM, and may not be sold or otherwise dealtwith until the later to occur of the following: (a) the loan in respect of those shares has been repaid in full; and (b) in respect of: (i) one third of the shares issued, 12 months after the date of the issue of the shares (21 December 2006); (ii) another one third of the shares issued, 24 months after the date of the issue of the shares (21 December 2007); and (iii) the remaining one third of the shares issued, 36 months after the date of the issue of the shares (21 December 2008). For further information please contact: In Australia: In United Kingdom:Melissa Sturgess Laurence Read/ Leesa PetersDwyka Diamonds Limited Conduit PR+618 9324 2955 +44 (0)20 7618 8707 / +44 (0)7979 955 923 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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