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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| West African | LSE:WAD | London | Ordinary Share | GB00B1CQN147 | 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% | 3.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMWAD
RNS Number : 3929B
West African Diamonds PLC
26 October 2009
26th October 2009
Merger between West African Diamonds and Stellar Diamonds Limited
Following press speculation the Directors of West African Diamonds (WAD) the AIM
listed diamond producer wish to announce that Heads of Terms have been signed to
acquire Stellar Diamonds Limited, a privately held West African diamond
producer, whose principal shareholder is African Aura plc (the "Acquisition").
The Acquisition, if concluded, constitutes a reverse transaction under the AIM
Rules and is therefore conditional, inter alia, on the approval of WAD
shareholders. WAD has requested and been granted a suspension of trading in its
ordinary shares with immediate effect pending publication of an AIM Admission
Document to shareholders containing details of the Acquisition. It is the
intention of both boards to relist the combined venture on AIM.
Further announcements regarding the Acquisition will be made in due course and a
circular sent to WAD shareholders containing details of the Acquisition and
related matters as well as convening a general meeting of the Company to approve
the Acquisition and associated matters as soon as possible.
Further details will be released when appropriate.
Enquiries:
+----------+----------+----------------------------------+-------------------------+
| West African | |
| Diamonds plc | |
+---------------------+----------------------------------+
| | John Teeling, Chairman | + 353 1 833 2833 |
+---------------------+----------------------------------+-------------------------+
| | James Campbell, Deputy Chairman | +27 83 457 3724 |
+---------------------+----------------------------------+-------------------------+
| Astaire Securities | +44 (0)20 7448 4400 |
| plc | |
| Lindsay Mair | |
+---------------------+----------------------------------+
| College Hill | +44 (0) 20 7457 2020 |
| Nick Elwes | |
+----------+----------+----------------------------------+-------------------------+
www.westafdiamonds.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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