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9 May 2011 11:26
Paragon Diamonds Limited
("Paragon" or the "Company")
Directors Dealings
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.
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.)
Frank Scolaro is interested in the following shareholdings:
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% |
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.
Paragon Diamonds Limited Frank Scolaro - ChairmanSimon Retter - Finance Director www.paragondiamonds.co | +44 (0) 20 7099 1940
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Fox-Davies Capital Ltd Simon Leathers Jonathan Evans
| +44 (0) 20 3463 5010
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Beth Harris Laurence Read | +44(0) 20 7653 9855 |
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