Aber Diamond (MM) (NASDAQ:ABER)
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Aber Appoints New Director, Announces Date of Year-End Earnings
Release, and Confirms details of Share Repurchase Plan
TORONTO, Feb. 10 /PRNewswire-FirstCall/ -- ABER DIAMOND CORPORATION (TSX- ABZ,
NASDAQ-ABER) announced today the appointment of John M. Willson to the
Company's Board of Directors.
Mr. Willson began his mining career as a mining engineer working in West
Africa, Montana, British Columbia and Greenland. In 1985 Mr. Willson was
appointed CEO of Western Canada Steel Ltd., a subsidiary of Cominco. He then
served as CEO of Pegasus Gold Inc. for four years before becoming the President
and CEO of Placer Dome Inc. During his tenure at Placer Dome, he served as
chairman on the board of the World Gold Council from 1999-2001. Mr. Willson
retired in 2000, and currently serves on various Canadian corporate and
charitable boards.
Mr. Willson has a Masters of Science in Mining Engineering from the Royal
School of Mines, London University.
Aber will release its Fourth Quarter and Year-End results on March 9, 2005
prior to the market open, and host a webcast on March 9, 2005 at 8:30 a.m.
(EST) to review these results and its outlook. Interested parties may listen to
the broadcast on the Internet at http://www.aber.ca/.
The Company also wishes to announce that The Toronto Stock Exchange has
accepted its notice of intention to proceed with a normal course issuer bid to
allow the Company to buy back a percentage of its shares on the open market.
The Company filed the normal course issuer bid as a means to return value to
its shareholders.
The notice filed with the Exchange provides that the Company may purchase,
through the facilities of the Exchange over a one year period, up to a total of
5% of its outstanding shares, representing 2,850,000 shares. As of January 21,
2005 there were 57,918,279 shares outstanding. The purchases may commence on
February 14, 2005 and will terminate on the earlier of the date on which the
Company may complete its purchases pursuant to the notice, the Company
terminates the program, or February 13, 2006. Purchases will be made by the
Company in accordance with the rules and policies of the Exchange and the
prices that the Company will pay for the shares will be the market price of
such shares at the time of acquisition thereof. Any shares so purchased will be
cancelled.
About Aber
Aber Diamond Corporation is a specialist diamond company focusing on the mining
and retail segments of the diamond industry. The Company supplies rough
diamonds to the global market through its 40% ownership in the Diavik Diamond
Mine, located off Lac de Gras in Canada's Northwest Territories. Aber also
holds a 51% interest in Harry Winston Inc., the premier retailer of diamond
jewelry.
DATASOURCE: Aber Diamond Corporation
CONTACT: Robert A. Gannicott, Chairman and Chief Executive Officer,
(416) 362-2237; Amir Kalman, Manager, Investor Relations, (416) 362-2237 (ext.
244)