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AFD African Diamond

39.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
African Diamond LSE:AFD London Ordinary Share GB0033110999 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 39.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 39.50 GBX

African Diamonds (AFD) Latest News

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African Diamonds (AFD) Discussions and Chat

African Diamonds Forums and Chat

Date Time Title Posts
13/4/201200:45African diamonds14,391
29/11/201023:33African Diamonds set to sparkle on AIM tomorrow ?260
01/10/201008:28African Diamonds To 200P And Beyond19,480
14/5/201013:02is tfhyla a knob cheese??102
30/4/201007:57African Diamonds - The Stock of 200441,479

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African Diamonds (AFD) Top Chat Posts

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Posted at 08/12/2010 13:35 by hatto
Good afternoon everyone.

I would imagine that the fall in AFD's share price is PI's who do not wish/cannot be bothered to change their trading supplier to one that trades the Canadian LUC shares.

Also those with AFD T20's would have to close.

Hence the fall in AFD's share price today.

I might be tempted to add if the share price does fall further as the deal is worth around 56p or thereabouts.
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 edit

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

===========

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 04/11/2010 13:13 by the_curmudgeon
incredible RNS from Lucara - the AK6 equivalent of this sent the AFD share price into overdrive back in the day. looking forward to the Canadian market opening. i think we are in an excellent company with Lucara. on one hand you get news flow from a world class mine in development and on the other hand you get news flow from a world class mine going into production. excellent.

the c
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 09:03 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 14/10/2010 21:16 by hatto
In a few months most of us may be LUC holders so nice to see the LUC share price up.

Its certainly as relevant as the AFD share price
Posted at 08/10/2010 11:40 by euclid
The mkt is telling us that AFD's share price is underpriced.
Current share price for LUC is 87c mid
0.8 x 87 = 69.6c

Todays exchange rate for C$ is 0.6166 so the deal share price for AFD = 43p
Botswana Exploration value is extra.
Posted at 08/10/2010 08:55 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 08:18 by hatto
African Diamonds recommends Lucara takeover offer

Monday, 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.
African Diamonds share price data is direct from the London Stock Exchange

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