LONDON (Alliance News) - Paragon Diamonds Ltd Tuesday said it is in initial discussions with Titanium Capital Investments Ltd about it potentially appointing a representative to join the board of Paragon.
The diamond exploration and development company made the statement in response to press speculation regarding Titanium earlier Tuesday.
The company said it is in talks with Titanium over a representative to join the board but is yet to reach any agreement. It added that there has been no offer made for the entire issued share capital of Paragon from Titanium, or any other parties.
Paragon Diamonds share price increased 13.5% to 4.03 pence on Tuesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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