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9 May 2011 11:26
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Paragon Diamonds Limited
("Paragon" or the "Company")
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Directors Dealings
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Paragon was informed today that Grandinex International Corp purchased 250,000 ordinary shares in the Company on 6 May 2011 at a price of 34.5p per share.
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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 30.4% of the issued share capital of such company (including his ownership through Grandinex International Corp.)
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Frank Scolaro is interested in the following shareholdings:
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Shareholder | Before Acquisition | After Acquisition | Resulting % |
Obtala Resources | 87,500,000 | 87,500,000 | 57.9% |
Grandinex | 32,777,894 | 33,027,894 | 21.8% |
Stockton | 3,750,000 | 3,750,000 | 2.5% |
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Therefore, following the purchase, Frank Scolaro is now interested in a total of 124,277,894 ordinary shares in the Company representing 82.2% of the issued share capital.
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Paragon Diamonds Limited Frank Scolaro - ChairmanSimon Retter - Finance Director www.paragondiamonds.co | +44 (0) 20 7099 1940 Β |
ZAI Corporate Finance Ltd | +44 (0) 20 7060 2220 |
Richard Morrison Sarang Shah | |
Β Fox-Davies Capital Ltd Simon Leathers Jonathan Evans Β | +44 (0) 20 3463 5010 Β Β |
Threadneedle Communications | |
Beth Harris Laurence Read | +44(0) 20 7653 9855 |
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