Corporate structure

DiamondCorp has one wholly owned subsidiary, namely DHL (DiamondCorp Holdings Ltd), a BVI incorporated company. DHL, in turn, owns 74 percent of the issued share capital of Lace and 100 percent of the issued capital of Soapstone, both of which are incorporated in South Africa. The BEE Partners each hold 13 percent of the issued share capital of Lace. The empowerment Agreement and Shareholders’ Agreement govern the relationship between DHL and the BEE Partners in relation to Lace.