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Firestone Diamonds

Issue of Shares re: Eurobond

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RNS Number : 2211W
Firestone Diamonds PLC
15 April 2019
 

15 April 2019

 

Firestone Diamonds plc

("Firestone" or the "Company")

 

Issue of shares

 

Firestone Diamonds plc (AIM: FDI) announces that, in accordance with the terms of the US$30.0 million Series A Eurobond debt facility ("Series A Eurobonds"), it has opted to issue, in aggregate, 18,899,464 new ordinary shares of 1 pence each ("Ordinary Shares") in respect of the quarterly interest due on the Series A Eurobonds, for the quarter ended 31 March 2019.  As at 31 March 2019, Series A Eurobonds amounting to US$30.0 million had been issued.

 

Accordingly, the Company will issue, in aggregate, 9,449,732 new Ordinary Shares to Pacific Road Resources Fund II L.P. and Pacific Road Resources Fund II (together "Pacific Road") and 9,449,732 new Ordinary Shares to Resource Capital Fund VI L.P. ("RCF") in respect of the interest due on the Series A Eurobonds, for the quarter ended 31 March 2019.

 

Application has been made to the London Stock Exchange plc for the new Ordinary Shares to be admitted to trading on AIM.  Admission and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 23 April 2019 ("Admission").  On Admission, the Company will have 565,471,782 Ordinary Shares in issue.

 

The Company does not currently hold any Ordinary Shares in treasury.  Accordingly, the above figure of 565,471,782 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

Following the issue of the new Ordinary Shares, Pacific Road and RCF will be interested in 161,426,065 and 162,021,377 Ordinary Shares respectively, representing approximately 28.55% and 28.65% respectively of the Company's issued share capital.

 

For more information please visit: www.firestonediamonds.com or contact:

 

Firestone Diamonds plc

+44 (0)20 8741 7810

Paul Bosma


Grant Ferriman




Macquarie Capital (Europe) Limited (Nomad and Broker)

Nick Stamp

Nicholas Harland

 

+44 (0)20 3037 2000

Tavistock (Public and Investor Relations)

+44 (0)20 7920 3150

Jos Simson


Gareth Tredway


Annabel de Morgan


 

Background information on Firestone

Firestone is an international diamond mining company with operations in Lesotho. Firestone commenced commercial production in July 2017 at the Liqhobong Diamond Mine.  Liqhobong is owned 75% by Firestone and 25% by the Government of Lesotho.  Lesotho is one of Africa's significant new diamond producers, hosting Gem Diamonds' Letšeng Mine, Firestone's Liqhobong Mine, Namakwa Diamonds' Kao Mine and Lucapa's Mothae Mine.

 

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This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Firestone Diamonds

Price: £0.01

Market: AIM
Market Cap: £7.36 m
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