10 Apr 2017 12:58
10 April 2017
Firestone Diamonds plc
("Firestone" or the "Company") (AIM: FDI)
Issue of shares
Firestone Diamonds plc, the AIM-quoted diamond mining company, announces that, in accordance with the terms of the US$30.0 million Eurobond debt facility ("Eurobonds"), it has opted to issue, in aggregate, 1,027,840 new ordinary shares of 1 pence each ("Ordinary Shares") in respect of the quarterly interest due on the Eurobonds, for the quarter ended 31 March 2017. As at 31 March 2017, Eurobonds amounting to US$30.0 million had been issued.
Accordingly, the Company will issue, in aggregate, 513,920 new Ordinary Shares to Pacific Road Resources Fund II L.P. and Pacific Road Resources Fund II (together "Pacific Road") and 513,920 new Ordinary Shares to Resource Capital Fund VI L.P. ("RCF") in respect of the interest due on the Eurobonds, for the quarter ended 31 March 2017.
Application has been made to the London Stock Exchange plc for the new Ordinary Shares to be admitted to trading on AIM. Admission and dealings in the new Ordinary Shares is expected to commence at 8.00 a.m. on 18 April 2017. On Admission, the Company will have 316,915,212 Ordinary Shares in issue.
The Company does not currently hold any Ordinary Shares in treasury. Accordingly, the above figure of 316,915,212 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Following the issue of the new Ordinary Shares, Pacific Road and RCF will be interested in 75,088,770 and 75,127,402 Ordinary Shares respectively, representing approximately 23.69% and 23.71% respectively of the Company's issued share capital.
For more information contact:
Firestone Diamonds plc | +44 (0)20 8741 7810 |
Stuart Brown | |
Strand Hanson Limited (Nomad) | +44 (0)20 7409 3494 |
Stuart Faulkner | |
Richard Tulloch | |
James Dance | |
Macquarie Capital (Europe) Limited (Joint Broker) Raj Khatri Nick Stamp
|
+44 (0)20 3037 2000 |
Mirabaud Securities LLP (Joint Broker) | |
Rory Scott | +44 (0)20 7878 3360 |
Ed Haig-Thomas | +44 (0)20 7878 3447 |
Tavistock (Public and Investor Relations) | +44 (0)20 7920 3150 |
Jos Simson | +44 (0)7788 554 035 |
Emily Fenton |
Background information on Firestone
Firestone is an international diamond mining company with operations focused on Lesotho. Firestone is currently in the process of commencing production at the Liqhobong Mine in Lesotho to become a one million carat per annum producer.
Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine, as well as Namakwa Diamonds' Kao Mine.
For more information please visit: www.firestonediamonds.com.
**ENDS**
FDI.L (FDI)