Firestone Diamonds PLC ABSA Debt Facility Update (9113P)
September 06 2017 - 2:00AM
UK Regulatory
TIDMFDI
RNS Number : 9113P
Firestone Diamonds PLC
06 September 2017
6 September 2017
Firestone Diamonds plc
("Firestone" or the "Company") (AIM: FDI)
ABSA Debt Facility Update
Firestone Diamonds plc, the AIM-quoted diamond company,
announces that as part of its current review of its life of mine
plan for the Liqhobong Diamond Mine, published 8 August 2017, ABSA
Bank Limited ("ABSA") has extended the financial completion date in
respect of the US$82.4 million debt facility ("ABSA Debt Facility")
from 22 September 2017 to 30 June 2018. As a result of the
extension, the ABSA Debt Facility covenants will now only come into
effect upon financial completion being achieved on or before 30
June 2018.
The Company is also in discussions with ABSA regarding any
amendments that may be required to the ABSA Debt Facility in order
to enable the implementation of the optimised mine plan, further
details of which the Company anticipates to announce during Q4 CY
2017.
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.
For more information contact:
+44 (0)20
Firestone Diamonds plc 8741 7810
Stuart Brown
+44 (0)20
Strand Hanson Limited (Nomad) 7409 3494
Stuart Faulkner
Richard Tulloch
James Dance
Macquarie Capital (Europe) Limited +44 (0)20
(Joint Broker) 3037 2000
Raj Khatri
Nick Stamp
Mirabaud Securities LLP (Joint
Broker)
+44 (0)20
Rory Scott 7878 3360
+44 (0)20
Ed Haig-Thomas 7878 3447
Tavistock (Public and Investor +44 (0)20
Relations) 7920 3150
+44 (0)7788
Emily Fenton 554 035
Jos Simson
Barney Hayward
Background information on Firestone
Firestone is an international diamond mining company with
operations focused in Lesotho. Firestone commenced commercial
production in July 2017 at the Liqhobong Diamond Mine in
Lesotho.
Lesotho is emerging as one of Africa's significant new diamond
producers, hosting Gem Diamonds' Letseng Mine, Firestone's
Liqhobong Mine and Namakwa Diamonds' Kao Mine.
For more information please visit:
www.firestonediamonds.com.
**ENDS**
This information is provided by RNS
The company news service from the London Stock Exchange
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