RE: Moving16 Dec 2019 21:06
Reminder from the Circular:
"The Company’s share price is currently at a low level. Your Board does not believe that the current share price in any way reflects the value of your Company’s assets and, in particular, the known potential of the Lahtojoki diamond deposit.
The Board is naturally concerned at the low share price. Members of the Board are themselves
significant shareholders and have personally invested heavily (approximately €2.2 million) in the
Company. It is of course true that the Board members have been paid by the Company for their
work. However, the members of the Board have collectively invested in excess of €1,000,000 more than was paid as remuneration to all of them (net of tax) over the whole of the 13 years to May 2018.
The valuation assigned to exploration projects has, however, not only affected shares in Karelian
Diamonds but the mining industry in general, and the diamond industry in particular. The Board
believes, nonetheless, that the Company is now at a stage when the asset value of its properties,
including the Lahtojoki diamond deposit, may progressively be recognised by the market."