30 Sep 2010 08:20
30 September 2010
Firestone Diamonds plc
Completion of acquisition of Kopane Diamond Developments plc
Firestone Diamonds plc, ("Firestone"), the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), is pleased to announce that further to the announcement by Kopane regarding the Reduction of Capital dated 29 September, all conditions to the Scheme have been satisfied and the Scheme has become effective.
In accordance with the terms of the Scheme, a total of 140,413,465 New Firestone Shares were issued today to the Scheme Shareholders. The New Firestone Shares rank pari passu with the Existing Firestone Shares. Due to the Acquisition being a reverse take-over of Firestone under the AIM Rules, the Existing Firestone Shares and the New Firestone Shares (the "Enlarged Share Capital"), were re-admitted to trading on AIM and dealings re-commenced at 8.00 a.m today.
Following Admission, the Enlarged Share Capital consists of 268,305,102 Firestone Shares. The trading facility in Kopane's shares on AIM was cancelled with effect from 7.00 a.m. this morning.
Capitalised terms used in this announcement shall have the same meaning as ascribed in the announcement dated 21 July 2010 unless the context otherwise requires.
In accordance with Rule 19.11 of the City Code, a copy of this announcement will be published on Firestone's website being www.firestonediamonds.com.
For further enquiries, please contact:
Investor Contacts: Firestone
Philip Kenny, Chief Executive
+ 44 20 8834 1028/ + 44 7831 324 645
Tim Wilkes, Chief Operating Officer
+27 78 457 6623
Evolution Securities, Financial Adviser, Rule 3 Adviser and Corporate Broker to Firestone
Simon Edwards / Tim Redfern
+44 20 7071 4330 / 4312
Brewin Dolphin, Nominated Adviser to Firestone
Alexander Dewar / Derrick Lee
+44 131 529 0276
Conduit PR
Jos Simson / Emily Fenton
+44 20 7429 6603 / +44 7899 870 450