BlueRock Diamonds PLC Board Change & Convertible Loan Update (9218C)
October 14 2022 - 2:27AM
UK Regulatory
TIDMBRD
RNS Number : 9218C
BlueRock Diamonds PLC
14 October 2022
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
14 October 2022
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Board Change & Convertible Loan Update
BlueRock Diamonds PLC, the AIM listed diamond producer, which
owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the
Kimberley region of South Africa, announces that Non-Executive
Director Tim Leslie has stepped down from the Board with immediate
effect.
The Board would like to thank Mr. Leslie for his commitment to
the Company over what has been a transformational period for the
business and wish him success in the future. The Company had
previously notified Mr. Leslie's intention to step down and the
search for a suitable candidate is well underway; further updates
will be provided in due course.
Convertible Loan Note
The Company is also providing an update on its GBP462,500
Convertible Loan Note held 50% by Mr. Leslie.
Following the partial repayment and extension of the term of the
Company's original GBP925,000 Convertible Loan Note during 2021,
the remaining balance of GBP462,500 is due for repayment on 16
October 2022. The Company has made a proposal to the holders of the
Convertible Loan Note in order to defer its repayment over a period
of months in order to provide the Company with additional cash
headroom as it continues to invest in developing Kareevlei. Further
updates will be announced as appropriate.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
**ENDS**
For further information, please visit BlueRock's website
www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC
Victor Dingle, CEO v.dingle@bluerockdiamonds.co.uk
---------------------------------- ----------------------------------
SP Angel (NOMAD and Broker)
Stuart Gledhill / Caroline Rowe Tel: +44 (0)20 3470 0470
---------------------------------- ----------------------------------
St Brides Partners Ltd (Financial
PR) bluerock@stbridespartners.co.uk
Isabel de Salis / Charlotte Page
Notes to editors:
BlueRock Diamonds is an AIM-listed diamond producer which
operates the Kareevlei Diamond Mine near Kimberley in South Africa
which produces diamonds of exceptional quality and ranks in the top
ten in the world in terms of average value per carat. The Kareevlei
licence area covers 3,000 hectares and hosts five known
diamondiferous kimberlite pipes with a combined inferred resource
of 10.4 million tonnes / 516,200 carats (February 2021); based on
its planned production of 1 million tonnes per annum, this provides
a minimum 10-year life of mine.
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END
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