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10 Jan 2011 07:00
Paragon Diamonds Limited
("Paragon" or the "Company")
Directors Dealings
Paragon was informed today that Grandinex International Corp purchased 1,290,000 ordinary shares in the Company on 7 January 2011 at a price of 30.47 p per share.
Frank Scolaro holds control of both Grandinex International Corp and Stockton Continental Inc and in addition is interested in 87,500,000 Ordinary shares owned by Obtala Resources Ltd, as a result of beneficially owning 32.06% of the issued share capital of such company (including his ownership through Grandinex International Corp.)
Frank Scolaro is interested in the following shareholdings:
Shareholder | Before Acquisition | After Acquisition | Resulting % |
Obtala Resources | 87,500,000 | 87,500,000 | 61.3% |
Grandinex | 30,897,894 | 32,187,894 | 22.6% |
Stockton | 3,750,000 | 3,750,000 | 2.6% |
Therefore, following the purchase, Frank Scolaro is now interested in a total of 123,437,894 ordinary shares in the Company representing 86.5% of the issued share capital.
Paragon Diamonds Limited Frank Scolaro - ChairmanSimon Retter - Finance Director www.paragondiamonds.co | +44 (0) 20 7099 1940
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ZAI Corporate Finance Ltd | +44 (0) 20 7060 2220 |
Richard Morrison Sarang Shah | |
Threadneedle Communications | |
Beth Harris Laurence Read | +44(0) 20 7653 9855 |
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