Admission to trading on the ISDX Growth Market

RNS Number : 4279Z

BlueRock Diamonds PLC

07 March 2013

 



7 March 2013

BlueRock Diamonds plc

("BlueRock" or the "Company")

Admission to trading on the ISDX Growth Market

The Directors of BlueRock Diamonds plc are pleased to announce that the Company's ordinary shares were admitted to trading on the ISDX Growth Market today.  The ordinary shares will trade under the ticker BR.P.

Since it was established in October 2012, the Company has raised a total of £510,000, including £279,000 through the placing completed today of 2,149,338 shares at 13 pence per share. The Company's issued share capital consists of 12,789,338 ordinary shares of £0.0001 each. Based on the placing price, the market capitalisation of BlueRock is £1.7 million. 

BlueRock's strategy is to acquire or invest in under exploited diamond mines and diamondiferous tailings dumps in South Africa and sub Saharan Africa. The Directors' initial focus will be in South Africa where they believe that opportunities exist largely to due to the lack of capital of the existing owners and operators.

The major shareholders of BlueRock following the placing are set out below:

Name of Shareholder	Holding
Alexander Catto	3.8%
Alice Bordini	3.1%
David Abromowitz	6.5%
Glazewood Ventures Limited	3.1%
Jonathan Stuart Quirk	3.8%
Mark Poole	7.8%
New Park Properties (Pty) Limited	4.7%
Paul John Beck	9.3%
Sarah Leslie	7.8%
Sedor Investment Holdings Limited	14.9%
Vidacos Nominees Limited	12.3%
Wildcrest Global Inc	8.3%

The board consists of four directors who between them have significant experience in South Africa, natural resources  and in financial and capital markets:

·     Paul Beck, Non Executive Chairman, is a member of a well known South African mining family and has extensive experience in South Africa and in particular, working with BEE partners in South Africa. 

·     Christiaan (Riaan) Visser, Executive Director, is a Chartered Accountant based in Kimberley.  Riaan has been involved in diamond mining and tailings retreatment projects in the Kimberley area since 1995.

·     Andries (Andrè) Markgraaff, Non Executive Director, started his business career in 1987 following a successful career playing rugby and is now a well known businessman based in Kimberley and Stellenbosch.

·     Jonathan Quirk, Non Executive Director, is a Chartered Accountant who has worked in the financial services sector since 1974. For the last 15 years he has specialised in investing in quoted and unquoted smaller companies, particularly in the financial and more recently the natural resources sector.

The Directors are currently seeking suitable investment or acquisition targets and have had preliminary discussions with a number of parties, but have not at this stage entered into any commitments. The Directors intend to make the first investment or acquisition within 12 months.

The admission document is available on the ISDX website (http://www.isdx.com) and hard copies are available on request from the Company's ISDX Corporate Adviser, SP Angel Corporate Finance LLP, whose contact details are below.

Enquiries:

BlueRock Diamonds plc Jonathan Quirk [phone] SP Angel Corporate Finance LLP - Corporate Adviser & Broker David Facey [phone] Liz Yong [phone]

Gable Communications Justine James [phone] [phone]

 

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