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27 Jan 2011 07:00
Paragon Diamonds Limited
("Paragon" or the "Company")
(AIM: PRG)
Fundraising of £2,890,000
Paragon (AIM: PRG), the African diamond production and development company is pleased to announce today that it has raised £2,890,000 through a subscription of 8,500,000 new ordinary shares in the Company at a price of 34p each.
The new shares will rank pari passu with all existing ordinary shares, and dealings on AIM are expected to commence in the new ordinary shares on 01 February 2011.
Following the issue of ordinary shares in relation to this fundraising as described above, the Company's issued share capital now consists of 151,182,819 ordinary shares of 1p each.
Frank Scolaro, Chairman, commented: "I am pleased with the continuing investor support and am confident that the additional funds raised will further strengthen Paragon's interests throughout Africa, in the rapidly recovering diamond market."
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 | +44(0) 20 7653 9855 |
Beth Harris Laurence Read |
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