11th Dec 2006 11:07
Sierra Leone Diamond Company Ld11 December 2006 For Immediate Release 11 December 2006 Sierra Leone Diamond Company Limited ("SLDC" or the "Company") Result of Cash Placing (the "Placing") SLDC announces that a total of 12,000,000 New Common Shares of the Company have been successfully placed by CanaccordAdams Limited at a price of 115 pence per share, raising £13.8 million, before expenses. Application has been 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 8.00am on 15 December 2006. Commenting on the successful placing, Frank Timis, Non-Executive Chairman of SLDC, said: "We are delighted with the support from both existing and new investors in this fund raising. Since coming to AIM early last year, SLDC has made progress farfaster than anticipated: we are on track to secure cash flow from our alluvial diamond operations and the additional funding will allow us to fast track alluvial diamond capacity, advance the hard rock Kimberlite exploration programme, and finance the drilling of the iron ore deposits." Enquiries: Sierra Leone Diamond Company Tel: 01442 257246David Gadd-Claxton - Chief Executive Officer Gordon Stein - Interim Chief Financial OfficerCanaccordAdams Limited Tel: 020 7050 6500Mark AshurstMike Jones Buchanan Communications Tel: 020 7466 5000Bobby MorseBen WilleyNick Melson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMI.L