In the media

DiamondCorp to list on Johannesburg bourse on March 31

20 March 2008

Source: Mineweekly

Author: Christy van der Merwe

Aim-listed DiamondCorp, with operations in South Africa, would begin it's dual listing on the basic materials - diamonds and gemstones - sector of the JSE on Monday, March 31, 2008.

The issued share capital would comprise 34,78-million ordinary shares with par value of 3 pence.

DiamondCorp believed listing its shares on the JSE would provide strategic benefits for the company.

"The intention is to enhance South African investors' awareness of DiamondCorp and facilitate direct investment in the company. The JSE listing is anticipated to diversify the current investor base and increase trade in DiamondCorp shares," the company said in a statement to the JSE.

DiamondCorp is incorporated in the UK and has been registered as an African Company in compliance with South African Exchange Control Regulations.

DiamondCorp was formed in March 2005 to acquire and develop diamond assets in Southern Africa. The company listed on Aim in February 2007, and on March 14, 2008 its market capitalisation was £32,2-million based on the closing price of 92,5 p a share, which translated to about R517,9-million at the prevailing exchange rate at that date.

About 70% of the company's issued share capital was held by the public.

The company has acquired prospecting rights to Lace, in South Africa, and constructed a tailings retreatment plant at Lace, and new order prospecting rights have been granted over two further properties, namely the Silverbank and Moregroet properties, which adjoin the Lace property.

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