Firestone Diamonds plc
Result of General Meeting
LONDON: 24 July, 2009
Firestone Diamonds plc ("Firestone" or "the Company"), the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), announces that at the general meeting of the Company (the "GM") held earlier today, all resolutions were duly passed.
On 8 July 2009 Firestone announced the conditional placing of 35,873,480 new ordinary shares of 20 pence each in the Company (the "New Ordinary Shares") (the "Placing"). The Placing was, inter alia, conditional upon the Company obtaining shareholder approval to disapply pre-emption rights. The passing of the special resolution relating thereto at today's GM has enabled the Company to complete its fundraising of approximately £7.2 million, conditional upon the New Ordinary Shares being admitted to AIM, and the New Ordinary Shares have been allotted to placees today. It is expected that admission of the New Ordinary Shares to AIM will become effective on Monday 27 July 2009. For placees that have elected to receive New Ordinary Shares in certificated form, share certificates are expected to be issued by 30 July 2009.
For further information, visit the Company's web site at www.firestonediamonds.com, or contact:
Philip Kenny, Firestone Diamonds | +44 20 8834 1028/+44 7831 324 645 |
Simon Edwards / Tim Redfern, Evolution Securities (Joint Broker) | +44 20 7071 4330 / 4312 |
Rory Scott, Mirabaud Securities (Joint Broker) | +44 20 7878 3360 |
Alexander Dewar, Brewin Dolphin (Nominated Adviser) | +44 131 529 0276 |
Jos Simson / Leesa Peters, Conduit PR | +44 20 7429 6603/+44 7899 870 450 |
Background information on Firestone Diamonds:
Firestone Diamonds plc ("FDI.L") is an international diamond mining and exploration company with operations in Botswana and South Africa. Botswana is the world's largest and lowest cost producer of diamonds, with annual production worth over $2.5 billion, and is considered to be one of the most prospective countries in the world to explore for diamonds.
Firestone is the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling over 29,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field. Firestone has 95 kimberlites in its portfolio, of which 24 have been proven to be diamondiferous. Sixteen of Firestone's kimberlites are at the bulk sampling stage, of which BK11 is the most advanced.
RNS news service provided by Hemscott Group Limited.
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