AMI.L Regulatory News (AMI)

3 Jul 2006 07:01

Sierra Leone Diamond Company Ld03 July 2006 For Immediate Release 3 July 2006 Sierra Leone Diamond Company Limited ("SLDC" or "the Company") Response to approach Further to the article in the weekend press the Board of SLDC would like toclarify the current position. Mr Timis, SLDC's Chairman, has recently been approached by Audley CapitalAdvisors ("Audley") who have expressed an interest in conditionally purchasingMr. Timis' entire SLDC shareholding at a price of 275 pence per share. In suchan event, Audley have also expressed, inter alia, an intention of purchasing upto a further 20 per cent of SLDC's equity, ideally by tender offer also at aprice of 275 pence a share, to commence in January 2007. Mr Timis has advised the SLDC Board that he has written to Audley, on behalf ofTimis Diamond Corporation ("TDC"), which owns 37,691,668 shares in SLDC,representing 34 per cent of the Company's total issued share capital, statingthat it is a long term holder of the shares and that neither Mr Timis nor TDChave any interest in selling the shares. For further information please contact: Sierra Leone Diamond Company Limited 44 (0)1442 257246David Gadd-Claxton, President and Chief Executive OfficerMartin Dunham, Chief Financial Officer Buchanan Communications 44 (0)20 7466 5000Bobby MorseBen WilleyNick Melson Notes to editors: SLDC is a company incorporated in Bermuda, and as such is not governed by theCity Code on Takeover and Mergers. This information is provided by RNS The company news service from the London Stock Exchange