Result of General Meeting (2320N)

TIDMFDI

RNS Number : 2320N

Firestone Diamonds PLC

30 August 2011

Firestone Diamonds plc

Result of General Meeting

LONDON: 30 August, 2011

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 28 July 2011 Firestone announced that it had placed 48,649,000 new ordinary shares of 20 pence each ("Ordinary Shares") in the Company (the "Placing Shares") at a price of 27.75 pence per Placing Share to raise GBP13.5 million before expenses (the "Placing").

Of the Placing Shares, 28,865,000 Ordinary Shares (the "First Placing Shares") were allotted and admitted to trading on AIM on 3 August 2011. The balance of the Placing Shares, comprising 19,784,000 Ordinary Shares (the "Second Placing Shares"), were placed conditional, inter alia, on the Company securing approval from its shareholders at GM for a resolution relating to the disapplication of pre-emption rights (the "Resolution"), and upon the Second Placing Shares being admitted to trading on AIM. Following the passing of the Resolution, it is expected that admission of the Second Placing Shares to AIM will become effective on at 8.00 am on Wednesday 31 August 2011 ("Admission").

The Second Placing Shares will represent approximately 5.31 per cent. of the Company's enlarged issued share capital immediately following Admission. Following Admission the total issued ordinary share capital of the Company will be 372,613,111 Ordinary Shares, all of which have voting rights.

The voting at the GM was taken on a show of hands and the Resolution was passed unanimously. For the information of shareholders the proxy votes cast before the meeting were as follows:

 
 Resolution    For                    Against          Withheld 
------------  ---------------------  ---------------  --------------- 
 Resolution 
  1            170,346,421 (99.93%)   66,995 (0.04%)   56,402 (0.03%) 
------------  ---------------------  ---------------  ---------------

For further information, visit the Company's web site at www.firestonediamonds.comor contact:

 
                                         +44 20 8834 1028/+44 7831 
                                          324 645 
 Philip Kenny, Firestone Diamonds         +27 78 457 6623/+267 713 
  Tim Wilkes, Firestone Diamonds          77686 
 Rory Scott, Mirabaud Securities 
  (Nominated Broker)                     +44 20 7878 3360 
 Alexander Dewar, Brewin Dolphin 
  (Nominated Adviser)                    +44 131 529 0276 
 Jos Simson / Emily Fenton, Tavistock    +44 20 7920 3150/+44 7899 
  Communications                          870 450

Background information on Firestone Diamonds:

Firestone Diamonds plc is an international diamond mining and exploration company with operations focused on Lesotho and Botswana. Firestone operates the Liqhobong Mine in Lesotho and the BK11 Mine in Botswana. Firestone is also the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling approximately 10,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field. In addition to Liqhobong and BK11, Firestone has 108 kimberlites in its portfolio, of which 30 have been proven to be diamondiferous.

Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine as well as the Kao and Mothae development projects. 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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