Merger between WAD and Stellar Diamonds Ltd


 

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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