Secondary listing on Botswana Stock Exchange
March 15 2010 - 3:00AM
UK Regulatory
TIDMFDI
RNS Number : 5443I
Firestone Diamonds PLC
15 March 2010
Firestone Diamonds plc
Secondary listing on Botswana Stock Exchange
LONDON: 15 March, 2010
Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond
mining and exploration company (ticker: AIM:FDI), announces that it intends to
apply for a secondary listing of shares in the Company on the Botswana Stock
Exchange and has appointed Capital Securities of Botswana as Sponsoring Broker
in relation to the proposed listing. The secondary listing application is
expected to be made shortly, and listing is expected to take place in Q2 2010.
With most of Firestone's current operations now focused on Botswana and
production due to commence at the Company's BK11 kimberlite in Q2 2010, the
Company has applied for and been granted Local Asset Status by the Non-Bank
Financial Institutions Regulatory Authority of Botswana. The ability of
Botswana-based institutional investors to invest in Botswana Stock Exchange
listed companies is significantly improved by the granting of Local Asset
Status.
Philip Kenny, CEO of Firestone Diamonds, commented: "Firestone has made a
substantial investment in its Botswana operations, which are now the primary
focus for the Company. With BK11 due to commence production shortly, and more
than 100 kimberlites in our licence areas in the Orapa, Jwaneng and Tsabong
regions, we believe that we have a successful future ahead of us in Botswana and
look forward to growing our shareholder base in Botswana."
For further information, visit the Company's web site or contact:
+----------------------------------+--------------------------+
| Philip Kenny, Firestone Diamonds | +44 20 8834 1028/+44 |
| | 7831 324 645 |
+----------------------------------+--------------------------+
| Simon Edwards / Tim Redfern, | +44 20 7071 4330 / 4312 |
| Evolution Securities (Joint | |
| Broker) | |
| | |
+----------------------------------+--------------------------+
| Rory Scott, Mirabaud Securities | +44 20 7878 3360 |
| (Joint Broker) | |
| | |
+----------------------------------+--------------------------+
| Alexander Dewar, Brewin Dolphin | +44 131 529 0276 |
| (Nominated Adviser) | |
| | |
+----------------------------------+--------------------------+
| Jos Simson / Leesa Peters, | +44 20 7429 6603/+44 |
| Conduit PR | 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 25,000 square kilometres around the major
Orapa and Jwaneng mines and the entire Tsabong kimberlite field. Firestone has
103 kimberlites in its portfolio, of which BK11 is due to commence production in
Q2 2010, and 29 others have been proven to be diamondiferous.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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