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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Firestone Diamonds Plc | LSE:FDI | London | Ordinary Share | GB00BKX59Y86 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.20 | 0.15 | 0.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFDI
RNS Number : 3850I
Firestone Diamonds PLC
30 August 2016
30 August 2016
Firestone Diamonds plc
("Firestone"," or the "Company") (AIM: FDI)
Update on the sale of the Botswana operations
Firestone Diamonds plc, the AIM-quoted diamond development company, announces that, at the request of Tango Mining Limited ("Tango Mining"), it has agreed to extend the date by when all conditions for the disposal of the Company's Botswana operations to Tango (the "Disposal") must be satisfied. This extension is to enable Tango Mining to finalise its funding.
As announced on 9 July 2015, the Company entered into a conditional sale agreement ("CSA") with Tango Mining for the Disposal, for a total consideration of US$8.0 million and, as announced on 13 October 2015 and 6 April 2016, certain terms of the CSA were amended by the amendment letters. Pursuant to a further amendment of the CSA, all conditions of the CSA must now be satisfied by no later than 9 September 2016 (the "Revised Drop Dead Date").
All other material terms of the amended CSA remain the same and accordingly, if the conditions of the CSA are not satisfied or waived by the Revised Drop Dead Date, the Disposal will not complete.
For more information contact:
+44 (0)20 8741 Firestone Diamonds plc 7810 Stuart Brown +44 (0)20 7409 Strand Hanson Limited (Nomad) 3494 Stuart Faulkner Richard Tulloch James Dance Macquarie Capital (Europe) Limited (Joint Broker) +44(0)20 3037 Raj Khatri 2000 Nick Stamp Mirabaud Securities LLP (Joint Broker) +44 (0)20 7878 Rory Scott 3360 +44 (0)20 7878 Ed Haig-Thomas 3447 Tavistock (Public and Investor +44 (0)20 7920 Relations) 3150 +44 (0)7788 554 Jos Simson 035 Emily Fenton
Background information on Firestone
Firestone is an international diamond development company with operations focused on Lesotho. Firestone is currently in the process of developing the Liqhobong Mine Development Project in Lesotho to become a one million carat per annum producer.
Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine, as well as Namakwa Diamonds' Kao Mine and the Mothae development project.
For more information please visit: www.firestonediamonds.com.
**ENDS**
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSDESMSFMSEEA
(END) Dow Jones Newswires
August 30, 2016 02:25 ET (06:25 GMT)
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