BlueRock Diamonds PLC Placing and Subscription raises £366,000 (8915G)

TIDMBRD

RNS Number : 8915G

BlueRock Diamonds PLC

01 June 2017

BlueRock Diamonds plc

("BlueRock" or "the Company")

Placing and Subscription raises GBP366,000

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 GBP366,000 (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                    SP Angel Corporate 
  plc                                 Finance LLP 
  Adam Waugh, CEO                     Nominated Adviser & 
  [e-mail]       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       Ordinary shares 
       instrument, type of instrument:    of 1 pence each 
       Identification code:               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:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)   Volume(s) 
       Price:                             ---------  ---------- 
                                           3p         333,333 
                                          ---------  ---------- 
---  ---------------------------------  --------------------------------------- 
 e)   Date of the transaction:           31 May 2017 
---  ---------------------------------  --------------------------------------- 
 f)   Place of the transaction:          Outside a trading 
                                          venue 
---  ---------------------------------  --------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 01, 2017 08:34 ET (12:34 GMT)