Requisition of Extraordinary General Meeting

Karelian Diamond Resources Plc - Requisition of Extraordinary General Meeting

PR Newswire

London, May 31

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

31 May 2019

Requisition of Extraordinary General Meeting

Karelian Diamonds (AIM: KDR) the diamond exploration company announces that it yesterday received a document at its office dated 29 May 2019 regarding a proposed requisition for an Extraordinary General Meeting (“EGM”) of the Company (the “Document”). The Company’s lawyers have advised that the Document did not constitute a valid EGM requisition, but the Company expects that a valid EGM requisition will be received at some point.

The stated objects of the Document are to remove the following directors of the Company, Professor Richard Conroy, Maureen Jones, Seamus FitzPatrick, Dr Sor?a Conroy and Louis J Maguire and to appoint Alan Osborne, Stephen Grimmer, Martin Doyle and Kevin Taylor as Directors. The Board has been in communication with certain of the authors of the Document and have previously communicated to them that they do not believe the proposed change of board is in the interests of Company’s shareholders as a whole.

Should a valid EGM requisition be received, a further announcement will be made and a circular to shareholders and notice of EGM would be prepared.

For further information please contact:

www.kareliandiamondresources.com