LONDON (Alliance News) - BlueRock Diamonds PLC said Tuesday its former chief executive officer will apply this Friday to place one of its company's operating subsidiaries in provisional liquidation.
Shares in the company, which operates the Kareevlei Diamond Mine in South Africa, were down 12% at 0.96 pence in response.
Riaan Visser's application for the liquidation of the subsidiary in question, Kareevlei Mining (Pty) Ltd, is not supported by the company.
"BlueRock's legal advice remains that the provisional liquidation application instituted by Visser is without merit and further announcements will be made in due course as appropriate," the company said.