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Diamonds & gemstones

Diamondcorp unveils further board changes

Director Chris Ellis has been formally appointed as independent interim non-exec chairman with immediate effect, the South Africa-focused miner said.

Diamondcorp Plc (LON:DCP) shares ticked 2% higher as it unveiled further board changes.

Director Chris Ellis has been formally appointed as independent interim non-exec chairman with immediate effect, the South Africa-focused miner said.

Meanwhile, Neil McDougall becomes a non-executive director also with immediate effect.

Last week, Diamondcorp was the subject of a rescue package as existing 11.6% shareholder Rasmala put up £0.7mln through a Shariah-compliant secured convertible facility.

McDougall's appointment comes after the financing facility with Rasmala plc announced last week and is in addition to the continued role of Michael Toxvaerd as non-exec director of DiamondCorp and Rasmala.

McDougall is the finance chief at Rasmala and has many years' senior management experience in international environments.

Last week, chairman Euan Worthington resigned from the company but the firm said he would stay on until a replacement is found.

Also today, Diamondcorp said Hulme Scholes, currently a director, had resigned from the board, but shall continue to remain a director of DiamondCorp's operating subsidiary Lace Diamond Mines (Pty) Limited.

Diamondcorp shares added 1.96% to 2.6p on Thursday.