| IEX SCHEDULE ONE-PRE-ADMISSION ANNOUNCEMENT |
| ANNOUNCEMENT TO BE MADE BY THE IEX APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE IEX RULES FOR COMPANIES |
| ALL APPLICANTS MUST COMPLETE THE FOLLOWING: |
| |
| COMPANY NAME: |
| Karelian Diamond Resources plc |
| COMPANY REGISTERED ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES): |
| 10 Upper Pembroke Street, Dublin 2 |
| COUNTRY OF INCORPORATION: |
| Ireland |
| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY RULE 26 IN THE IEX RULES FOR COMPANIES: |
| www.kareliandiamondresources.com |
| COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY. IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKEOVER UNDER RULE 14 OF THE IEX RULES FOR COMPANIES, THIS SHOULD BE STATED: |
| Karelian Diamond Resources plc is a natural resource company headquartered in Ireland, which is focused on the discovery of potential world-class diamond deposits in Finland. The Company is presently exploring for diamonds and evaluating an existing diamond prospect (diamondiferous kimberlite pipe) in the Karelian Craton of Finland. The Company has a number of projects throughout the diamond-prospective Karelian Craton, at various stages of development. |
| DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF SECURITIES (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): |
| 60,541,676 Ordinary Shares of €0.01 each |
| CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
| N/A |
| PERCENTAGE OF IEX SECURITIES NOT IN PUBLIC HANDS ON ADMISSION: |
| 61.92% |
| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE IEX SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED: |
| Karelian Diamond Resources plc's shares are currently traded on the Alternative Investment Market of the London Stock Exchange. |
| FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): |
| Professor Richard Conroy, Executive Chairman Maureen T.A. Jones, Managing Director James P. Jones, Finance Director Roger I. Chaplin, Non-Executive Director Seamus P FitzPatrick, Non-Executive Director Louis J. Maguire, Non-Executive Director |
| FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE OR AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): |
| The following parties are interested in 3% or more of the issued share capital of Karelian Diamond Resources plc as at 9 November 2009. Interests will not change as a result of Admission. No. of Ordinary Shares % of Ordinary Shares Conroy plc 30,815,030 50.89 Gartmore Fund Managers Limited 6,442,333 10.64 Professor Richard Conroy 6,216,671 10.27 |
| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE TWO, PARAGRAPH (H) OF THE IEX RULES FOR COMPANIES: |
| City Capital Corporation Ltd Merchant John East Securities Ltd Lothbury Financial |
| (i) ANTICIPATED ACCOUNTING REFERENCE DATE: (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO RULES 18 AND 19 IN THE IEX RULES FOR COMPANIES: |
| (i) 31 May (ii) N/A (iii) 28 February 2010 (half year results to 30 November 2009) 30 November 2010 (full year results to 31 May 2010) 28 February 2011 (half year results to 30 November 2010) |
| EXPECTED ADMISSION DATE: |
| 7 December 2009 |
| NAME AND ADDRESS OF IEX ADVISER: |
| IBI Corporate Finance Limited, 40 Mespil Road, Dublin 4 |
| NAME AND ADDRESS OF BROKER: |
| Dolmen Stockbrokers, 75 St. Stephen's Green, Dublin 2 |
| OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: |
| N/A |
| DATE OF NOTIFICATION: |
| 9 November 2009 |
| NEW/ UPDATE (see note): |
| QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: |
| |
| THE NAME OF THE IEX DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED: |
| Alternative Investment Market of the London Stock Exchange |
| THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED: |
| 1 September 2005 |
| CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH: |
| Karelian Diamond Resources plc confirms that it has complied with all relevant legal and regulatory requirements involved in having its securities traded on the Alternative Investment Market of the London Stock Exchange since its ordinary shares commenced trading on 1 September 2005. |
| AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE: |
| www.kareliandiamondresources.com |
| DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY: |
| The Company's proposed strategy following admission will be focused primarily on the discovery of a potentially economic diamond deposit in Finland. |
| A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED: |
| There has been no significant change in the trading or financial position of Karelian Diamond Resources plc since 31 May 2009, being the end of the last financial period for which audited statements have been published. |
| A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION: |
| The Directors of Karelian Diamond Resources plc have no reason to believe that the working capital available to it will be insufficient for at least twelve months from the date of its admission to the IEX market. |
| DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE IEX RULES FOR COMPANIES: |
| N/A |
| A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES: |
| Dealings in Karelian Diamond Resources plc's ordinary shares may be settled via CREST or in certificated form. |
| A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES: |
| www.kareliandiamondresources.com |
| INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC: |
| N/A |
| A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND FULLY AUDITED INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED ACCORDING TO IRISH, UK OR US GAAP OR INTERNATIONAL ACCOUNTING STANDARDS: |
| www.kareliandiamondresources.com |
| THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY: |
| Nil |
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