BRD.L Regulatory News (BRD)

BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

17 August 2018

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

Director Loan

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, confirms that, further to the announcement on 10 August 2018, it has entered into a loan with Paul Beck and Adam Waugh, the Company's Chairman and CEO respectively, (the "Loan").

The principal amount of the Loan is £231,400 comprising £50,000 from Paul Beck and £181,400 from Adam Waugh. The key provisions of the Loan are as follows: a term of up to three years, but pre-payable in full or in part at any time at the option of the Company; an arrangement fee of 5 per cent. of the loan principal; interest payable of 11 per cent. per annum on the loan principal payable quarterly, 6 per cent. payable in cash and the remaining 5 per cent. payable by a combination of cash and shares (at the Company's sole discretion); a repayment premium at an amount equal to 2 per cent. of the loan principal per month that the Loan is outstanding, payable on repayment of the Loan in full or in part to be satisfied half in cash and half in shares, at the mid-market price at the time of the relevant repayment, or cash (at the Company's sole discretion); and that in the event that the Company raises further funds, preference is given to repaying the Loan. It will be the Board's intention to repay the Loan as soon as practicable.

Related Party Transaction

Paul Beck and Adam Waugh, as Directors of the Company, are both considered to be "related parties" as defined under the AIM Rules and accordingly, the Loan constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.

The Directors independent of the Loan, being David Facey and Tim Leslie, consider, having consulted with the Company's nominated adviser, SP Angel, that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned.

Market Abuse Regulation (MAR) Disclosure - Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact: