Stellar Diamonds Regulatory News (STEL)

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

West African Diamonds plc (to be re-named Stellar Diamonds plc)

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

20-22 Bedford Row, London, WC1R 4JS

COUNTRY OF INCORPORATION:

England and Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.stellar-diamonds.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

A diamond exploration, development and production company with assets in Guinea and Sierra Leone. The key short term strategy will be to focus on production and cash flow from its Bomboko and Mandala projects in Guinea. The longer term strategy will involve the development of its advanced high-grade kimberlite exploration projects at Tongo and Kono (in Sierra Leone) and Droujba and Bouro (in Guinea).

The admission is a result of a reverse take-over under Rule 14.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

96,931,658 Ordinary shares of £0.05 each

Issue price of 20p

No shares held in treasury

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

£5 million

Expected market capitalisation is approximately £19.4 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

Approximately 37%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

N/A

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Lord Peter Daresbury (Non-Executive Chairman)

Nicholas Karl Smithson (Chief Executive Officer)

Angus Alexander Forbes Ogilvie (Finance Director)

Luis Guilherme Cabrita da Silva (Non-Executive Director)

Steven James Poulton (Non-Executive Director)

Paul Rankine (Non-Executive Director)

James Andrew Hartley Cambell (Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Before After

African Aura Mining Inc Nil 31.77

Altima Global Special Opportunities Fund Nil 8.39

SearchGold Nil 2.77

Strand Nominees Ltd 11.21 2.08

Marlies Smith 9.67 1.80

K.B. (C.I.) Nominees Ltd 8.00 1.49

African Diamonds 5.56 1.03

TD Waterhouse Nominees Ltd 3.76 0.70

NutraCo Nominees Ltd 3.69 0.69

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 30 June

(ii) 31 October 2009

(iii) 30 June 2010, 31 December 2010, 31 March 2011

EXPECTED ADMISSION DATE:

22 February 2010

NAME AND ADDRESS OF NOMINATED ADVISER:

Royal Bank of Canada Europe Limited

71 Queen Victoria Street

London EC4V 4DE

NAME AND ADDRESS OF BROKER:

Royal Bank of Canada Europe Limited

71 Queen Victoria Street

London EC4V 4DE

Astaire Securities plc

30 Old Broad street

London EC2N 1HT

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

www.westafdiamonds.com (from 27 January 2010) and www.stellar-diamonds.com (from 22 February 2010)

Royal Bank of Canada Europe Limited, 71 Queen Victoria Street, London, EC4V 4DE (from 27 January 2010 and for a period of one month from 22 February 2010)

The Admission Document will contain full details about the applicant and the admission of it securities

DATE OF NOTIFICATION:

4 February 2010

NEW/ UPDATE:

New