PRG.L Regulatory News (PRG)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer Paragon Diamonds Ltdof existing shares to which voting rights areattached:ii ("Paragon" or the "Company") 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which mayresult in the acquisition of shares already issued to which voting rights areattached An acquisition or disposal of instruments with similar economic effect to Xqualifying financial instruments An event changing the breakdown of voting rights X Other (please specify): Titanium Capital3. Full name of person(s) subject to the Investments Limited/notification obligation:iii Philip Falzon Sant Manduca 4. Full name of shareholder(s) (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 24/03/15reached: v 6. Date on which issuer notified: 24/03/15 7. Threshold(s) that is/are crossed or no changereached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transaction Number Number Number Number of voting % of voting rights xif possible of of of shares rightsusing Shares Votingthe ISIN Rights Direct Direct xi Indirect Direct IndirectCODE xii Ordinary 1- 60,700,000 60,700,000 39,200,000 39,200,000 14.1%GG00B6684H4 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of votingfinancial date xiii Conversion Period xiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xvi Resulting situation after the triggering transaction Type of Exercise price Expiration Exercise/ Number of voting rights % of voting rightsfinancial date xvii Conversion instrument refers to xix, xxinstrument period xviii Nominal DeltaSpreadbet 21,500,000 7.7% Total (A+B+C) Number of voting rights Percentage of voting rights 60,700,000 21.8% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi On 24 March 2015 Mr Philip Falzon Sant Manduca, the Executive Chairman ofParagon transferred the voting rights attached to 21,500,000 ordinary shares of1 pence each in the Company ("Ordinary Shares") from Titanium CapitalInvestments Limited, a private equity investment group of companies which hecontrols, to a spreadbet facility at a price of 5.5 pence per share. Following this trade, Philip Falzon Sant Manduca retains an economic interestin 60,700,000 Ordinary Shares which represents 21.8% of the Company's totalvoting rights. Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will ceaseto hold: 12. Date on which proxy holder will cease to holdvoting rights: 13. Additional information: 14. Contact name: Hugo Philion 15. Contact telephone number: 02071821920