Stellar Diamonds Regulatory News (STEL)

14 Sep 2007 15:10

West African Diamonds PLC14 September 2007 14th September 2007 Placing West African Diamonds Plc ("the Company") is pleased to announce it hascompleted a placing of 3,844,000 new ordinary shares of £0.01 each at a price of£0.21 per share to raise approximately £807,240 (before expenses). In addition,185,000 new ordinary shares of £0.01 have been issued in settlement of certaincommissions due in respect of the placing. The shares have been placed underthe existing share authorities agreed at the AGM held on 24 August 2006. The proceeds of the placing will be used to provide additional working capital,in particular to fund further work on Pipe 3 in Sierra Leone and for the Droujbakimberlites and Droujba alluvials in Guinea. Application for the 4,029,000 of the new ordinary shares to be admitted totrading on AIM has been made. Admission is expected on the 19 September 2007. Enquiries:West African Diamonds John Teeling, Chairman + 353 1 8332833 James Campbell, Deputy Chairman +27 83 457 3724 Blue Oar Securities Plc John Wakefield +44 (0) 117 933 0020 College Hill Paddy Blewer +44 (0) 20 7457 2020 Nick Elwes +44 (0) 20 7457 2020 This information is provided by RNS The company news service from the London Stock Exchange