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Namakwa Diamonds Ltd (NAD)

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Tuesday 20 September, 2011

Namakwa Diamonds Ltd

Issue of Shares and Total Voting Rights

RNS Number : 5802O
Namakwa Diamonds Limited
20 September 2011
 



20 September 2011

Namakwa Diamonds Limited (LSE:NAD)

("Namakwa" or the "Company")

Issue of Shares and Total Voting Rights

Further to the announcement of 8 September 2011, Namakwa announces that it has issued 20,000,000 new ordinary shares in the capital of the Company (the "New Ordinary Shares"), to Jarvirne Limited ("Jarvirne"), being: (a) 9,000,000 shares in respect of the first year interest payment under a US$40 million, two year secured loan facility entered into on 7 September 2011, of which US$5 million has been drawndown to date; and (b) 11,000,000 shares in respect of the part settlement of Jarvirne's capital investment (and any related, unrealised and accrued profits) in the Company's Trading & Beneficiation Division.

An application has been made for the New Ordinary Shares to be admitted to trading on the Main Market of the London Stock Exchange, with such admission expected to take effect on or around 21 September 2011.  The New Ordinary Shares represent 8.4% of the enlarged issued share capital of the Company.

Following the issue and allotment of the New Ordinary Shares, the Company's issued share capital will comprise 237,121,814 ordinary shares of US$0.000625 each, which figure 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 change to their interest in, Namakwa under the FSA's Disclosure and Transparency Rules.  The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

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For further information please visit www.namakwadiamonds.com  or contact:

Namakwa Diamonds


Tavistock Communications

Richard Collocott

+27 11 334 8886

Simon Hudson

+44 20 7920 3150

Ryan Barrow

+44 7974 453 954

Lydia Eades

+44 20 7920 3150

 

Liberum Capital




Clayton Bush

+44 20 3100 2000



Christopher Britton

+44 20 3100 2000







 

Notes to Editors:

About Namakwa Diamonds:

Originally founded in 1979 by Tom Kruger, Namakwa Diamonds is an integrated diamond resource group encompassing mining, trading and beneficiation.  Its mining operations are focused on its flagship kimberlite project in Lesotho, operated by Storm Mountain Diamonds (Pty) Ltd, which is expected to move into Phase 1 operations in October 2011. Namakwa holds a 62.5% interest in Storm Mountain Diamonds, with the Government of Lesotho holding 25% and Kimberlite Investments Lesotho Limited (a public company for the benefit of Lesotho citizens) holding 12.5%.

The Company also maintains alluvial and kimberlitic assets in the North West Province of South Africa and the Kasai Occidental Province in the DRC, as well as exploration and development assets in the Northern Cape of South Africa and Namibia.


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