Placing and Subscription raises £366,000

RNS Number : 8915G

BlueRock Diamonds PLC

01 June 2017

 

BlueRock Diamonds plc

("BlueRock" or "the Company")

Placing and Subscription raises £366,000

1 June 2017

BlueRock Diamonds plc, the AIM listed diamond mining company which owns and operates the Kareevlei mine in South Africa, is pleased to announce that it has raised an aggregate of £366,000 (before expenses) via the issue of 12,200,000 new ordinary shares of 1 pence each in the capital of the Company ("the New Shares") at a price of 3 pence per New Share.

The proceeds of the fundraising will be used to continue with the development of Kareevlei Mine as well as funding the company's strategy of adding to its current portfolio of diamond mining assets.

A parcel of 143 carats were sold in the May tender and returned an average price of $224 per carat.  This combined with the April tender results has shown a small increase in the overall average $ per carat to $298.

Paul Beck, Non-Executive Chairman of the Company, has subscribed for 333,333 New Shares, following which he will have a beneficial interest in 2,551,231 Ordinary Shares representing 3.8% of the issued share capital and total voting rights of the Company. Included in Mr Beck's beneficial interest are 455,455 Ordinary Shares held by Front Square Securities Limited, a company wholly owned by Mr Beck and his wife and of which Mr Beck is a director.

Details of the Placing

Application will be made for the New Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence on or around 7 June 2017.

Total Voting Rights

Following the issue of the New Shares, the issued share capital of the Company will consist of 67,909,580 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 67,909,580.

The above total current voting rights number is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:
BlueRock Diamonds plc Adam Waugh, CEO [e-mail]			SP Angel Corporate Finance LLP Nominated Adviser & Broker Stuart Gledhill / Lindsay Mair [phone]

About BlueRock Diamonds plc (AIM: BRD)

BlueRock is a diamond mining company with activities in the Kimberley region of South Africa. BlueRock owns a diamond processing plant and the mining right over the Kareevlei Tenements in South Africa.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details on the acquisition of shares by Mr Clemmey.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Paul Beck
2.	Reason for the notification
a)	Position/status:	Non-executive Chairman
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	BlueRock Diamonds plc
b)	LEI:	213800LVSJ2RNI3SSN92
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of 1 pence each  GB00B84H1764
b)	Nature of the transaction:	Participation in placing and subscription
c)	Price(s) and volume(s):	Price(s) Volume(s) 3p 333,333
d)	Aggregated information: Aggregated volume: Price:	Single transaction as in 4 c) above Price(s) Volume(s) 3p 333,333
e)	Date of the transaction:	31 May 2017
f)	Place of the transaction:	Outside a trading venue

 

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