27 Nov 2013 15:14
Firestone Diamonds plc
("Firestone" or the "Company") (AIM: FDI)
Confirmation of shareholdings in the Company and Director dealing
LONDON: 27 November 2013
Firestone Diamonds plc ("Firestone" or the "Company"), the AIM-quoted diamond development company, announces that the interest in the ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") of clients advised by Audley Capital Advisors LLP ("Audley Capital") has previously been overstated and that the interest of Mr Julian Treger, a Director of the Company, has been understated by an equivalent amount. However, the Company confirms that the overall disclosable interest of Mr Treger in the Ordinary Shares remains unchanged.
It was announced by the Company on 16 July 2013 that pursuant to the placing (the "Placing"), clients of Audley Capital had subscribed, in aggregate, for 29,800,000 new Ordinary Shares to be issued pursuant to the Placing (the "Placing Shares"). The Company has however been notified that pursuant to the Placing clients of Audley Capital only subscribed, in aggregate, for 25,895,000 Placing Shares and a trust, of which Mr Treger is a beneficiary, subscribed for 3,905,000 Placing Shares at a the placing price of 2p per Placing Share.
As a result Mr Treger is interested in 13,300,342 Ordinary Shares, being 1,698,283 Ordinary Shares held directly by Mr Treger and 11,602,059 Ordinary Shares held by trusts of which Mr Treger is a beneficiary, representing, in aggregate, 1.76% of the Company's issued share capital. Mr Treger is also a partner in Audley Capital which advises clients with an aggregate interest in 80,536,877 Ordinary Shares, representing, in aggregate, 10.68% of the Company's issued share capital.
As a result, as announced previously, Mr Treger remains interested in, in aggregate, 93,837,219 Ordinary Shares, representing 12.45% of the Company's issued share capital.
For more information contact
Firestone Diamonds plc | +44 (0)20 8741 7810 |
Stuart Brown | |
Strand Hanson Limited (Nomad) | +44 (0)20 7409 3494 |
Stuart Faulkner | |
Richard Tulloch | |
James Dance | |
GMP Securities Europe LLP (Joint Broker) | +44 (0)20 7647 2800 |
Richard Greenfield | |
Alexandra Carse | |
Mirabaud Securities LLP (Joint Broker) | +44 (0)20 7878 3360 |
Rory Scott | |
Tavistock Communications | +44 (0)20 7920 3150 |
Emily Fenton | +44 (0)7788 554 035 |
Jos Simson | |
Nuala Gallagher |
Background information on Firestone Diamonds
Firestone is an international diamond development company with operations focused on Lesotho and Botswana. Firestone is currently in the process of developing the MTP at the Liqhobong Mine in Lesotho to become a plus-one million carat per annum producer.
Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine as well as Namakwa Diamonds' Kao Mine and Mothae development project.