Posting of Scheme Document

 

TIDMAFD 
 
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: 
[phone] 
James AH Campbell                                                 Tel: +27 83 
457 3724 
 
finnCap 
Matthew Robinson, Corporate Finance                   Tel: [phone] 
Henrik Persson, Corporate Finance                        Tel: [phone] 
 
College Hill 
Nick Elwes                                                            Tel: +44 
20 7457 2020 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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