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Diamondcorp Plc - Appointment of Administrators

RNS Number : 6582E
Diamondcorp Plc
09 May 2017

9 May 2017


DiamondCorp plc


AIM share code: DCP & JSE share code: DMC

ISIN: GB00B183ZC46

(Incorporated in England and Wales)

(Registration number 05400982)

(SA company registration number 2007/031444/10)


("DiamondCorp", "the Company" or "the Group")


Appointment of administrators


Resignation of Nominated Adviser and Broker


Further to the announcement on 28 April 2017, DiamondCorp, announces that the appointment of Stephen Cork and Jo Milner of Cork Gully LLP as joint administrators to DiamondCorp plc has today become effective.


The business address of Cork Gully LLP is 52 Brook Street, London, W1K 5DS.


The Directors intend to continue to work with both the joint administrators of DiamondCorp plc and the joint Business Rescue Practitioners of the Company's operating subsidiary Lace Diamond Mines (Pty) Ltd in order to try and preserve any remaining stakeholder value.


As a result of the appointment of administrators, and with mutual agreement by the Board, Panmure Gordon (UK) Limited has concurrently resigned as Nominated Adviser and Broker to the Company with immediate effect. Pursuant to AIM Rule 1, and in addition to Rule 41 described below, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's securities will be cancelled on AIM. The Company has no current intention of appointing a replacement Nominated Adviser.


The suspension to trading in the Company's shares on AIM and AltX, as announced on 14 November 2016, remains effective. Pursuant to Rule 41 of the AIM Rules for Companies, the Company's admission to trading on AIM is therefore currently due to be cancelled on 15 May 2017, being in advance of the anticipated cancellation pursuant to Rule 1 as described above. The status of the admission to trading on AltX will be advised as soon as possible.


Further announcements will be made by the Company as appropriate.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.




Contact details:


DiamondCorp plc

Chris Ellis, Interim Non-Executive Chairman

Tel: +44 (0) 20 3151 0970

Paul Loudon, Chief Executive

Tel: +27 56 216 1300


Joint Administrators

Cork Gully LLP

Stephen Cork and Jo Milner

+44 (0) 20 7268 2150


JSE Designated Adviser

Sasfin Capital (a division of Sasfin Bank Limited)
Megan Young

Tel: +27 11 445 8068


This information is provided by RNS
The company news service from the London Stock Exchange

Quick facts: Diamondcorp Plc

Price: -

Market: AIM
Market Cap: -

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