29th Mar 2007 15:43
SouthernEra Board Extends Separation Time Under Shareholder Rights Plan
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ Shares issued and outstanding: 166,232,179 TSX: SDM-T AIM: SRE-L
TORONTO and LONDON, March 29 /CNW/ - SouthernEra Diamonds Inc. ("SouthernEra" or "the Company") today announced that its board of directors has determined to extend the separation time for distribution of rights to shareholders pursuant to its Shareholder Rights Plan to April 30, 2007 or such earlier date as the board may determine. This decision was made in relation to the recent announcement by Mwana Africa Plc ("Mwana") (AIM: MWA-L) of their intention to make an offer (the "Mwana Proposal") to acquire all of the shares of SouthernEra in exchange for shares of Mwana and the ongoing review of the Mwana Proposal and strategic alternatives open to SouthernEra.
SouthernEra Diamonds is one of Canada's fully integrated diamond companies with extensive alluvial and kimberlite diamond exploration in the DRC as well as other countries including Canada and South Africa. The Company also holds the Klipspringer Diamond Mine in South Africa and maintains an 18 percent free-carried interest in the Camafuca Diamond Project in Angola.
For further information: SouthernEra Diamonds Inc., Mr. Chris Reynolds, SVP and CFO, Telephone: (416) 359-9282, Fax: (416) 359-9141, E-mail: inbox(at)southernera.com, www.southernera.com; London: 4C-Burvale, Carina Corbett, Director, Telephone: +44 (0) 20 7559 6710, Fax: +44 (0) 20 7559 6701, Email: Corbett(at)4c-burvale.co.uk (SDM. SRE)
SOUTHERNERA DIAMONDS INCRelated Shares:
Sirius Real Estate