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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| African Diamond | AFD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 39.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 39.50 |
| Top Posts |
|---|
Posted at 15/12/2010 18:39 by peterz OK so now I have 22000 LUC shares - so are my AFD in addition to those LUC, I guess so judging by people saying they are selling AFD (I guess because of a lack of trust in JT or feel he is a bit ...looking after self iterest rather than shareholders). Does AFD hold any excitement? |
Posted at 09/11/2010 10:02 by hatto 29 October 2010 African Diamonds Plc Posting of Scheme Document The directors of African Diamonds are pleased to announce that the Scheme document relating to the recommended Proposals, whereby Lucara acquire the entire issued and to-be-issued share capital of African Diamonds,is today being posted to African Diamonds' shareholders. On 4 October 2010, African Diamonds announced that it had agreed with Lucara the terms of recommended Proposals under which African Diamonds would demerge the diamond exploration interests of the African Diamonds Group to Botswana Diamonds and Lucara would acquire the entire issued and to-be-issued share capital of African Diamonds, including African Diamond's 40% interest in the AK6 diamond mine in Botswana, by way of a Court-sanctioned scheme of arrangement. Under the Proposals, AFD Shareholders would receive 0.8 of a common share in Lucara (credited as fully paid and rounded down to the nearest whole number) and one (1) ordinary share of GBP0.01 in Botswana Diamonds for every one (1) ordinary share of GBP0.01 in African Diamonds held by those shareholders. The Scheme document contains, among other things, further information regarding the recommended Proposals. The Scheme document also sets out the procedures to be followed in connection with the implementation of the Scheme, an anticipated timetable of principal events and details of the actions to be taken by African Diamonds' shareholders, and contains notices of the Court Meeting and General Meeting of African Diamonds' shareholders that have been convened in connection with the Scheme and which will be held on 26 November 2010. Expected timetable of principal events Event Time / Date Posting of Scheme document 29 October 2010 Latest time for lodging blue Forms of Proxy for the Court Meeting 11.00 a.m. on 24 November 2010 Latest time for lodging pink Forms of Proxy for the General Meeting 11.15 a.m. on 24 November 2010 Voting Record Time 6.00 p.m. on 24 November 2010 Court Meeting 11.00 a.m. on 26 November 2010 General Meeting 11.15 a.m. on 26 November 2010 Last day of dealings in AFD Shares 17 December 2010 Scheme Record Time 6.00 p.m. on 17 December 2010 Suspension of trading on AIM of AFD Shares 7.30 a.m. on 20 December 2010 Court Hearing to approve and sanction the Scheme (including the Capital Reduction and the Demerger Reduction) 20 December 2010 Effective Date 20 December 2010 Date of registration of the Court Order with the Registrar of Companies 20 December 2010 Cancellation of admission to trading on AIM of AFD Shares 7.00 a.m. 21 December 2010 Latest date of dispatch of certificated BD Shares 4 January 2011 Latest date for issuance of Lucara Shares 4 January 2011 CREST accounts credited with BD Shares 4 January 2011 Cancellation of trading in African Diamonds' shares on AIM Prior to the Scheme becoming effective, African Diamonds will make an application to the London Stock Exchange for the cancellation of AFD Shares from trading on AIM. Accordingly, if the Scheme becomes effective, AFD Shares will cease to be quoted on AIM and traded on the London Stock Exchange's market for AIM-quoted securities on or before 7.00 a.m. on 21 December 2010 and the last day of dealings in, and for registrations of transfers of, AFD Shares will be 17 December 2010. Capitalised terms used in this announcement but not defined have the meanings given to them in the Scheme document. Further information: African Diamonds John Teeling Tel: +353 1 8332833 James AH Campbell Tel: +27 83 457 3724 finnCap Matthew Robinson, Corporate Finance Tel: +44 20 7600 1658 Henrik Persson, Corporate Finance Tel: +44 20 7600 1658 College Hill Nick Elwes Tel: +44 20 7457 2020 ======== Hi......It does say "11.15 a.m. on 26 November 2010 Last day of dealings in AFD Shares". It also says "AFD Shares will cease to be quoted on AIM and traded on the London Stock Exchange's market for AIM-quoted securities on or before 7.00 a.m. on 21 December 2010 and the last day of dealings in, and for registrations of transfers of, AFD Shares will be 17 December 2010". I'm confused dot com. |
Posted at 09/11/2010 09:07 by hatto Hatto - 2 Nov'10 - 10:24 - 14095 of 14156 editI'm a little surprised that AFD is still trading @ only 38p/39.5p what with LUC's share price recovering as it has. Yesterday AFD had a 100,000 Buy @ 39.5p & a 25,000 Buy @ 39p. So someone realises the likely bonus of buying AFD at this level. I've had my calculator out & worked out the value of our potential LUC holding. LUC 86c = 42p + 7p BD Estimated value = 49p LUC 87c = 42p + 7p BD Estimated value = 49p LUC 88c = 43p + 7p BD Estimated value = 50p LUC 89c = 43p + 7p BD Estimated value = 50p LUC 90c = 44p + 7p BD Estimated value = 51p LUC 91c = 44p + 7p BD Estimated value = 51p LUC 92c = 45p + 7p BD Estimated value = 52p LUC 93c = 45p + 7p BD Estimated value = 52p LUC 94c = 46p + 7p BD Estimated value = 53p LUC 95c = 46p + 7p BD Estimated value = 53p LUC 96c = 47p + 7p BD Estimated value = 54p LUC 97c = 48p + 7p BD Estimated value = 55p LUC 98c = 48p + 7p BD Estimated value = 55p LUC 99c = 49p + 7p BD Estimated value = 56p Certainly worth watching LUC's share price which closed @ 90c v 92c yesterday. ====== Obviously two possible factors that WILL effect the above calculations are.... 1. A higher Bid by 24th November 2010 (Court date). 2. AFD shareholders voting against the LUC offer. IMHO ADYOR =========== Good morning everyone. Roughly 13 trading days for AFD holders to either sell their AFD shares or become LUC & BD holders by default. LUC currently trading @ 90c v 94c with the last trade going through @ 93c valuing our AFD shares @ 45p+7p = 52p. A 13p premium on our current AFD share price of 39p. A potential 25% profit for doing nowt. Interesting thought. IMHO ADYOR Of course the proposal might fail if the required positive vote goes against the BID.....Is that likely? |
Posted at 02/11/2010 10:24 by hatto Good morning everyone.I'm a little surprised that AFD is still trading @ only 38p/39.5p what with LUC's share price recovering as it has. Yesterday AFD had a 100,000 Buy @ 39.5p & a 25,000 Buy @ 39p. So someone realises the likely bonus of buying AFD at this level. I've had my calculator out & worked out the value of our potential LUC holding. LUC 86c = 42p + 7p BD Estimated value = 49p LUC 87c = 42p + 7p BD Estimated value = 49p LUC 88c = 43p + 7p BD Estimated value = 50p LUC 89c = 43p + 7p BD Estimated value = 50p LUC 90c = 44p + 7p BD Estimated value = 51p LUC 91c = 44p + 7p BD Estimated value = 51p LUC 92c = 45p + 7p BD Estimated value = 52p LUC 93c = 45p + 7p BD Estimated value = 52p LUC 94c = 46p + 7p BD Estimated value = 53p LUC 95c = 46p + 7p BD Estimated value = 53p LUC 96c = 47p + 7p BD Estimated value = 54p LUC 97c = 48p + 7p BD Estimated value = 55p LUC 98c = 48p + 7p BD Estimated value = 55p LUC 99c = 49p + 7p BD Estimated value = 56p Certainly worth watching LUC's share price which closed @ 90c v 92c yesterday. ====== Obviously two possible factors that WILL effect the above calculations are.... 1. A higher Bid by 24th November 2010 (Court date). 2. AFD shareholders voting against the LUC offer. IMHO ADYOR |
Posted at 29/10/2010 10:03 by hatto RNS Number : 2408V African Diamonds PLC 29 October 2010 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, OR INTO THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF ANY SUCH JURISDICTION 29 October 2010 African Diamonds Plc Posting of Scheme Document The directors of African Diamonds are pleased to announce that the Scheme document relating to the recommended Proposals, whereby Lucara acquire the entire issued and to-be-issued share capital of African Diamonds,is today being posted to African Diamonds' shareholders. On 4 October 2010, African Diamonds announced that it had agreed with Lucara the terms of recommended Proposals under which African Diamonds would demerge the diamond exploration interests of the African Diamonds Group to Botswana Diamonds and Lucara would acquire the entire issued and to-be-issued share capital of African Diamonds, including African Diamond's 40% interest in the AK6 diamond mine in Botswana, by way of a Court-sanctioned scheme of arrangement. Under the Proposals, AFD Shareholders would receive 0.8 of a common share in Lucara (credited as fully paid and rounded down to the nearest whole number) and one (1) ordinary share of GBP0.01 in Botswana Diamonds for every one (1) ordinary share of GBP0.01 in African Diamonds held by those shareholders. The Scheme document contains, among other things, further information regarding the recommended Proposals. The Scheme document also sets out the procedures to be followed in connection with the implementation of the Scheme, an anticipated timetable of principal events and details of the actions to be taken by African Diamonds' shareholders, and contains notices of the Court Meeting and General Meeting of African Diamonds' shareholders that have been convened in connection with the Scheme and which will be held on 26 November 2010. Expected timetable of principal events Event Time / Date Posting of Scheme document 29 October 2010 Latest time for lodging blue Forms of Proxy for the Court Meeting 11.00 a.m. on 24 November 2010 Latest time for lodging pink Forms of Proxy for the General Meeting 11.15 a.m. on 24 November 2010 Voting Record Time 6.00 p.m. on 24 November 2010 Court Meeting 11.00 a.m. on 26 November 2010 General Meeting 11.15 a.m. on 26 November 2010 Last day of dealings in AFD Shares 17 December 2010 Scheme Record Time 6.00 p.m. on 17 December 2010 Suspension of trading on AIM of AFD Shares 7.30 a.m. on 20 December 2010 Court Hearing to approve and sanction the Scheme (including the Capital Reduction and the Demerger Reduction) 20 December 2010 Effective Date 20 December 2010 Date of registration of the Court Order with the Registrar of Companies 20 December 2010 Cancellation of admission to trading on AIM of AFD Shares 7.00 a.m. 21 December 2010 Latest date of dispatch of certificated BD Shares 4 January 2011 Latest date for issuance of Lucara Shares 4 January 2011 CREST accounts credited with BD Shares 4 January 2011 Cancellation of trading in African Diamonds' shares on AIM Prior to the Scheme becoming effective, African Diamonds will make an application to the London Stock Exchange for the cancellation of AFD Shares from trading on AIM. Accordingly, if the Scheme becomes effective, AFD Shares will cease to be quoted on AIM and traded on the London Stock Exchange's market for AIM-quoted securities on or before 7.00 a.m. on 21 December 2010 and the last day of dealings in, and for registrations of transfers of, AFD Shares will be 17 December 2010. Capitalised terms used in this announcement but not defined have the meanings given to them in the Scheme document. Further information: African Diamonds John Teeling Tel: +353 1 8332833 James AH Campbell Tel: +27 83 457 3724 finnCap Matthew Robinson, Corporate Finance Tel: +44 20 7600 1658 Henrik Persson, Corporate Finance Tel: +44 20 7600 1658 College Hill Nick Elwes Tel: +44 20 7457 2020 |
Posted at 21/10/2010 11:16 by euclid Varrirob, you are correct to say that the effect will be that Lucara will be left with AK6 (and Gondwana Diamonds) and that Newco will retain the other assets. However the mechanics of how that is achieved is by LUC taking 100% of AFD and then giving us back Newco as part-payment.Note that Newco and its assets is part of the payment. "African Diamonds (AFD) is pleased to announce that it has entered into an implementation agreement with Lucara Diamond Corp. (Lucara) pursuant to which Lucara will acquire all of the issued share capital of AFD by way of a Scheme of Arrangement. The consideration is .80 of a Lucara share plus 1share in Botswana Exploration plc for every 1 share in AFD." (my italics) In taking 100% of AFD they will also be taking on any outstanding litigation involving AFD (or Gondwana Diamonds),in my opinion. AFD will be delisted and likely remain a wholly owned subsidiary of Lucara. |
Posted at 08/10/2010 09:55 by holkham Is the deal sewn up?The Acquisition will be carried out by way of an English court-approved Scheme of Arrangement under which AFD shareholders will receive 0.8 of a Lucara share and 1 share in NewCo for each AFD share. NewCo, to be listed on the AIM Market of the London Stock Exchange, will own all of AFD's exploration assets outside of its interest in the AK6 project and Gondwana Diamonds (Pty) Ltd. The Acquisition will require the approval of at least 75% of AFD's shareholders by value of shares held present and voting at a general meeting and the approval of a majority in number representing 75% in value of the class of members present and voting at a meeting convened by the High Court of England and Wales, both of which are expected to take place before the end of 2010. The transaction also requires the sanction of the English courts and is subject to applicable regulatory approvals, including approval of the TSX Venture Exchange, AIM, and the satisfaction of certain closing conditions customary in transactions of this nature. Also, in accordance with the terms of AFD's stock option plan, Lucara will make a contractual offer to each of AFD's optionholders to acquire their options to subscribe for shares in AFD. In return, Lucara will issue options to the optionholders to subscribe for the appropriate number of shares in Lucara based on the exchange ratio for the Acquisition. The Acquisition has been unanimously approved by the boards of Lucara and AFD. All directors and senior officers of AFD have entered into voting agreements with Lucara under which they agree to vote in favour of the Acquisition and take other action in support of the Acquisition. Two major shareholders (Investec and JP Morgan Chase) have entered into irrevocable undertakings to vote in favour of the transaction. Subject to Lucara's right to match. The board of AFD may terminate the Acquisition in favour of an unsolicited superior proposal upon payment of a US$1 million break fee to Lucara. |
Posted at 08/10/2010 09:18 by hatto African Diamonds recommends Lucara takeover offerMonday, October 04, 2010 by Jamie Ashcroft The £51m deal is priced at a 27% premium to AFD's price on 1October African Diamonds (LON:AFD) has recommended a takeover offer from Lucara Diamonds Corp (TSX-V:LUC) which values the company at C$82 million, approximately £51 million. The deal effectively sees Lucara buying AFD's stake in the AK6 diamond deposit. In return AFD shareholders will receive a 26.57% stake in the Canadian company. "The logic of this deal is compelling," AFD chairman John Teeling said. Proactiveinvestors recommends Gemfields Resources: New Look, Strategy and CEODiamondCorp: bread, butter and jamFirestone Diamonds springboard to successLucara is a well-funded Diamond mining company, and an associate of the Lundin Group (TSX:LUN). The company's primary asset is a 75% stake in the Mothae Diamond Mine in Lesotho. AFD and Lucara are currently joint venture partners in the AK6 diamond development project, after Lucara bought De Beers' stake in the project earlier this year. AFD owns 40% of AK6, as well as a portfolio of exploration projects in Botswana. The exploration assets will be spun-out into a new AIM-listed company, which will be called Botswana Exploration. Under the terms of the deal AFD shareholders will receive 0.8 Lucara shares and 1 Botswana Exploration shares for each share held. "Marrying AFD and Lucara will create a C$240 million emerging diamond producer controlling two new kimberlite diamond mines", Teeling said. "AFD shareholders win in three ways, they will hold an indirect stake in AK6 ... they get 26.57% of the Lucara interest in the high diamond value Mothae mine ... and they will get 100% of Botswana Exploration." On completion Botswana Exploration will join AIM and the Botswana Stock Exchange. AFD values the Botswana Exploration assets at 7p per share. With the backing of Lundin, Lucara will push ahead with the development of both the AK6 and Mothae diamond mines. "The new company, with strong financial backing, will be perfectly poised to exploit an expected gap in diamond supply." "The track record of the Lundin Group, the backers of Lucara, in building shareholder value is outstanding." "The objective of the Lundin Group is to use Lucara to build a mid tier diamond producer. The board of AFD endorse and support this strategy." AFD shareholders will vote on the proposal at a meeting on 31 October, 75% of the voting rights are required to approve the deal. |
Posted at 06/10/2010 09:22 by undecided Mc I stated in my posting "in my opinion" so always take that as read.Yesterday you posted that you had no idea whether AFD had finance problems so you we're unable to answer a question I posed to you. Today you post "have you considered at all the dilution that would almost certainly have to have taken place if AFD had to stump up their share of the money for the mine" This is a clear indication that you have now come around to the idea that AFD did indeed have a finanace issue moving forward. Yesterday's question "Can I ask you one question if we accept that AFD did not have finance problems would you accept that JT has therefore sold out too cheaply and have you any views as to why he may have done this?" Cc Your missing the point I could purchase Luc shares today for cash and it would have the same effect if the shares we're to leap up. Trouble is that sadly I believe because JT tells me so that AFD is worth 0.445 and I have no reason to believe that Lucars's shares are worth more for the same reason. Yaris: Luds/Rainfall has been a worthwhile and a pro afd contributor to this thread for a long time. Just because we are both disillusioned by what occurred two days ago does'nt warrant our not having an opinion anymore. |
Posted at 05/10/2010 10:16 by undecided Reality. The directors of both AFD and Lucara have sat down and agreed a deal for the paper transfer of AFD into Lucara. There is no reason to suspect that there was any animosity in these negotiations. We have to assume therefore that JT was more then happy with the deal and therefore 0.445p was a fair value for AFD. As a sweetener to Teeling and co they have been allowed control of Botswana Exploration which no doubt over the forthcoming years he will do what he initially is very good at which is talking a company up, releasing unsupported claims indirectly and putting spin on press releases. Whether the market is supportive of more JT spin is debateable. From my end however unsavoury I find Teeling's approach I will hold my potential holding in the new company but get out as soon as the first piece of spin has had its effect as I no longer have mid to long term belief in him as a person. As for any futher offers coming in for AFD don't hold your breath the offer of Botswana Exploration has put paid to that thought process and us as afd pi's at the same time. Luds we expected more of the person. |
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