25th Jul 2007 07:00
Sierra Leone Diamond Company Ld25 July 2007 Sierra Leone Diamond Company Limited ("SLDC" or "the Company") Result of Cash Placing (the "Placing") SLDC is delighted to announce that as a result of substantial demand, theCompany has increased the size of the Placing from £20-25 million to £31.85million ($65.7 million), before expenses, still leaving unfilled demand frominvestors. This increase to the size of the issue will enable the Company toundertake an enlarged scope in its uranium, base metals and gold explorationprogrammes. As a result, a total of 24,500,000 New Common Shares of the Companyhave been placed by Canaccord Adams Limited at a price of 130 pence per share. Application will be made for, and the Placing is conditional on, inter alia,admission of the New Common Shares to trading on AIM ("Admission"). It isexpected that settlement will occur and Admission will become effective anddealings in the New Common Shares will commence at 8.00 am on 31 July 2007. Commenting on the successful Placing, Frank Timis, Executive Chairman of SLDC,said: "We are delighted with the strong support from investors in this fund raisingwhich in itself is an endorsement of the quality of the assets the Company hasassembled in Sierra Leone. The funds raised will be used to advance our ironore, uranium, base metals and gold projects to unlock further shareholdervalue." Enquiries Sierra Leone Diamond Company Limited +44 (0) 20 7849 3002Frank Timis, Executive ChairmanJamie Alpen, Chief Financial Officer Canaccord Adams Limited +44 (0) 20 7050 6500Mark AshurstMike Jones Citigate Dewe Rogerson +44 (0) 20 7638 9571Media enquiries: Martin Jackson/Kate DelahuntyAnalyst enquiries: Scott Fulton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMI.L