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DiamondCorp delays share placement for 2nd time


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DiamondCorp delays share placement for 2nd time

DiamondCorp Plc on Jan. 31 said it entered into an amendment with placing agent Panmure Gordon in which the admission of placing shares and fee shares in the AIM must be completed by Feb. 28.

The company previously delayed the admission of the placing shares and fee shares to Jan. 31.

DiamondCorp's postponement of the placement of shares was caused by the continued delay of discussions on a labor agreement with the Association of Mining & Construction Union, though an agreement in principle was reached.

Continuing discussions between the business rescue practitioner of Lace Diamond Mines Pty. Ltd., Deloitte & Touche, with secured lender Industrial Development Corporation of South Africa are ongoing.