16 Jul 2020 07:50
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
16 July 2020
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Confirmation of Directors' Participation in Fundraising
BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa ("Kareevlei"), is pleased to announce that further to the announcement regarding the fundraising and other matters made earlier today (the "Fundraising"), the Board has approved the participation of the following Directors of BlueRock:
| £ | Number of ordinary shares of 5p each |
Mike Houston | 5,000 | 14,285 |
David Facey | 5,000 | 14,285 |
Gus Simbanegavi | 5,000 | 14,285 |
Total | 15,000 | 42,855 |
Following the Fundraising, their shareholdings will be as follows:
Director | No. of Ordinary Shares held as at date of this announcement | No. of New Shares subscribed for in the Fundraising | No. of Ordinary Shares held immediately following admission | % interest in Ordinary shares immediately following admission |
Mike Houston | 30,000 | 14,285 | 44,285 | 0.49% |
David Facey | 48,000 | 14,285 | 62,285 | 0.69% |
Gus Simbanegavi | 10,000 | 14,285 | 24,285 | 0.27% |
Details relating to the Fundraising
Further to the announcement this morning, application has now been made for the Placing Shares and the Director Subscription Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence on or around 21 July 2020.
Following Admission, the issued share capital of the Company will consist of 9,064,722 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 9,064,722.
Related Party Transaction
Mike Houston, David Facey and Gus Simbanegavi, as directors of the Company, are considered to be "related parties" as defined under the AIM Rule and accordingly, their participation in the Fundraising constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.
The Director independent of the Fundraising, being Tim Leslie (Non-Executive Director), considers, having consulted with the Company's nominated adviser, that the terms of the Director participation in the Fundraising 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 www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC Mike Houston David Facey, FD |
mhouston@bluerockdiamonds.co.uk dfacey@bluerockdiamonds.co.uk |
SP Angel (NOMAD and Broker) Stuart Gledhill / Caroline Rowe |
Tel: +44 (0)20 3470 0470 |
St Brides Partners Ltd (Financial PR) Isabel de Salis / Cosima Akerman / Susie Geliher |
Tel: +44 (0)20 7236 1177 |
Notes to editors:
BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. As at November 2018, it was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 367,000.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||
a) | Name: | A: Michael Houston B: David Facey C: Gus Simbanegavi | ||||||||||||
2. | Reason for the notification | |||||||||||||
a) | Position/status: | A: Executive Chairman B: Finance Director C: Chief Operating Officer | ||||||||||||
b) | Initial notification/Amendment: | Initial notification | ||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
a) | Name: | BlueRock Diamonds plc | ||||||||||||
b) | LEI: | 213800LVSJ2RNI3SSN92 | ||||||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||||
a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary shares of 5 pence each GB00BKKJK954 | ||||||||||||
b) | Nature of the transaction: | Participation in the Fundraising | ||||||||||||
c) | Price(s) and volume(s): | A: Michael Houston Participation in the Fundraising:
B: David Facey Participation in the Fundraising:
C: Gus Simbanegavi Participation in the Fundraising:
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d) | Aggregated information: Aggregated volume: Price: | Participation in the Fundraising:
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e) | Date of the transaction: | 16 July 2020 | ||||||||||||
f) | Place of the transaction: | Outside a trading venue | ||||||||||||