6 Oct 2008 16:00
6 October 2008
WEST AFRICAN DIAMONDS PLC
("West African Diamonds" or the "Company")
PLACING ANNOUNCEMENT
The board of West African Diamonds (AIM: WAD), is pleased to announce a placing of 2,000,000 new ordinary shares at a price of 10p per share to third party investors. The £200,000 provides additional working capital for the Company.
The new ordinary shares will be issued under the terms of the Company's existing authorities and application has been made for the new ordinary shares to be admitted to AIM. It is expected that dealings in the new ordinary shares will commence from 8 October 2008.
Enquiries:
| West African Diamonds | |
| John Teeling, Chairman | + 353 1 8332833 |
| James Campbell, Deputy Chairman | +27 83 457 3724 |
| Blue Oar Securities Plc (Nominated Adviser and Broker) John Wakefield | +44 (0) 117 933 0020 |
| College Hill Paddy Blewer Nick Elwes | +44 (0) 20 7457 2020 +44 (0) 20 7457 2020 |