Cape Eu-eur Discussion Threads

[1ocnik] 20/6/2007 07:17

I'll have a flutter....i know,i know i have an appointment to see someone about it later in the week...lol..;-)))

[liveit2] 15/6/2007 14:21

Appointments made - results will not doubt come at the end play toady

Looks like MA has been requested to bow out gradually

[liveit2] 15/6/2007 05:45

I guess proof that plans for benefit delivery still on target, and the uncertainty maybe unfounded - but that's pure guess work

[bageo] 14/6/2007 18:24

But what proof can they have? surely any additional information would have to be disclosed to all shareholders even if they are suspended.

[liveit2] 14/6/2007 18:13

Andy - would we get 1.5m backing without proof?


Is tomorrow mid June or is it later this year beacause CAPE says so?

[liveit2] 12/6/2007 10:04

thanks for that Andy - will look further in to it tonight - At first site appears part of a massive conglomerate

[andy] 12/6/2007 09:45

Liveit2,

It appears Golden Hope limited is based in the IOM!

They are a majority shareholder in Star Cruise lines, based in the Pacific.

There are some references here.

[andy] 12/6/2007 09:39

Liveit2,

I have just spoken to Cape, and you are correct, it's not Golden Hope Mines, I will edit my post.

[liveit2] 12/6/2007 09:16

I am not sure if Golden Mines is the same company but you may be right

[andy] 12/6/2007 09:10

Liveit2,

I agree.

I have been looking at the company that made the investment, Golden Hope Limited, and will update if I find anything out regarding them.

Anyway, good news for holders Clearly, as the stock will be tradeable again in the near future.

[liveit2] 12/6/2007 08:39

sounds +ve

How he managed to raise 1.6m is quite a feat

[andy] 12/6/2007 08:29

Placing and relisiting just announced!

Quite why they require a placing when they have been suspended for so long I'm not sure.

----------------------


Cape Diamonds PLC
12 June 2007

12 June 2007

Cape Diamonds Plc ('Cape Diamonds' or the 'Company')


Conditional Placing


Cape Diamonds Plc (AIM: CAPE), the Company with a diamond producing mine in the
Republic of South Africa, announces that it has issued 1.6 million new ordinary
shares in the Company at £1 per ordinary share to raise £1,520,000 net of
expenses, representing 4.62 per cent. of the enlarged share capital.



Receipt of these funds by the Company is conditional on the new ordinary shares
being admitted to trading on AIM and therefore the lifting of the Company's
suspension by the publication and notification of its results for the year ended
30 June 2006, and notification of its interim results for the six month period
ended 31 December 2006. Application of the new ordinary shares to trading on AIM
has been made and admission of these ordinary shares should coincide with the
lifting of suspension.



Following this issue of ordinary shares, the share capital of the Company will
be 34,596,053 ordinary shares of 10 pence each.



Commenting, Masoud Alikhani, Chairman of Cape Diamonds Plc, said:



'We are pleased to receive the support of Golden Hope Limited who have
subscribed for 1.6 million new ordinary shares in Cape Diamonds. The
installation of the DMS plant at our mine in Kimberley, South Africa continues
as planned and full production using the DMS is anticipated to commence in
October 2007.'



The Directors also would also like to inform shareholders that finalisation of
the results for the year to 30 June 2006 and interim results to 31 December 2006
is near completion and it is intended that they will be announced and published
in mid-June 2007, along with the appointment of the proposed new directors.



-Ends-



Enquiries to:



Cape Diamonds Plc
Masoud Alikhani - Executive Chairman 020 7408 1181

WH Ireland
Tim Cofman-Nicoresti 0121 616 2101

Redleaf Communications
Emma Kane/Duncan McCormick 020 7822 0200


This information is provided by RNS
The company news service from the London Stock Exchange

[andy] 12/6/2007 08:27

Matrix6,

LOL!

You still in NML?

[matrix6] 29/5/2007 12:43

"
Perhaps the company should be looking for a couple of non-execs with some sort of communication skills."

Andy why dont you and Mr.Smith go for an interview with cape? i'm sure if anyone steps out of line on bb's that they could generate their earnings from defamation proceedings?

[andy] 29/5/2007 12:19

This has been published today, and seems to offer hope for holders that a relisting will occur within the six mionth timeframe allowed.

--------

Small Talk: Restoring credibility is a big challenge for Cape Diamonds
Published: 29 May 2007

"Back in July last year, Small Talk took issue with the AIM-listed Cape Diamonds after the stock got off to a horrific start to life on the public markets. Having raised £13m in a placing at 250p organised by its nominated adviser, WH Ireland, the shares were eventually suspended at just 100p on 22 December, half an hour after the market had shut for the Christmas break. They have remained suspended ever since. Talk about a good time to bury bad news.

The reasons behind the suspension were twofold. Firstly, the company ran into accounting problems at its Elandslaate diamond mine. Secondly, it needed to recruit new non-executive directors.

Investors might reasonably ask why a company raised a substantial amount of money without being certain that it would be able to file its first set of accounts. Here we are a year after the float and Cape is yet to file. If it does not file its accounts by 22 June, its listing will be cancelled, leaving investors with untradeable stock unless the company goes through the whole process of listing again.

It would also not be unreasonable to question why it has taken Cape more than five months to recruit two non-executive directors. Surely a company that has just listed, raised money and attracted a handful of top-flight institutional backers should be able to find a couple of experienced mining executives to take a well-paid part-time job on the board.

Perhaps the company should be looking for a couple of non-execs with some sort of communication skills. As Small Talk reported last July, the silence from the company has been deafening. According to a Cape spokesperson, Cape has met with institutional backers and confirmed that operational targets have been met. Well, fine, but other investors have been left completely in the dark and the treatment of smaller investors is little short of a disgrace.

The spokesperson confirmed that the company expects to file its accounts before 22 June and to confirm the appointment of new non-execs and a new finance director, lifting the shares from suspension. Investors will have their fingers crossed that it does, but regardless of what happens Cape's management has an enormous battle on its hands to restore any kind of credibility it may once have had."

[sparky25] 17/5/2007 10:25

You can get them here too:

[andy] 12/5/2007 23:14

5square,

The CEO is also head of TEO, another AIM listed stock, you can find his current contact details on their website if they are different to above.

I agree, this is starting to look poor now, holders need some answers!

[5square] 12/5/2007 22:50

what is the board playing at here. the company is a month off being delisted and still total silence. come on mr chairman - deliver!!

[5square] 12/5/2007 22:48

what is the board playing at here. the company is a month off being delisted and still total silence. come on mr chairman - deliver!!

[liveit2] 02/5/2007 20:11

I assume there are no mining journal subscribers here then .....

Whatever the article said must have come from the company and therefore hardly worth printing as rumours go.

Will we get a BP Browne type announcement?

This is quite serious now - A newly formed PLC delaying its accounts by over 4 months has to be challenged - surely whi has to come clean soon - no?

[liveit2] 22/4/2007 08:09

Anyone subscribed to this site? if so highlights would be welcome

[jpod_1] 14/4/2007 12:19

Liveit2, you are correct.

AIM Rule 41 applies and means that on 22nd June AIM will cancel the admission of Cape Diamonds securities:

Cancellation

41. An AIM company which wishes the Exchange to cancel admission of its AIM securities must notify such intended cancellation and must separately inform the Exchange of its preferred cancellation date at least twenty business days prior to such date and save where the Exchange otherwise agrees, the cancellation shall be conditional upon the consent of not less than 75% of votes cast by its shareholders given in a general meeting.

The Exchange will cancel the admission of AIM securities where these have been
suspended from trading for six months.

Cancellations are effected by a dealing notice.

The AIM rules can be found by clicking the following link:



Cancellation will have no effect on the percentage holding in the company's issued share capital however shareholders can look forward to losing more money on the basis that the liquidity of the shares will be affected by the fact that they cannot be traded on the appropriate platform.

There is no explicit requirement under the AIM rules for the Company to provide updates on the status of publication of the accounts whilst trading remains suspended. However under AIM rule 11 the company is required to notify without delay of any new developments concerning changes in its financial condition:sphere of activity: performance of its business or expectation of its performance, which, if made public, would be likely to lead to a substantial movement in the price of its AIM securities.

[jpod_1] 17/3/2007 13:14

The silence on this is becoming increasingly deafening. What on earth is going on with this company?