BlueRock Diamonds PLC Claims by a former director to the Company (6424X)
23 February 2017 - 7:02PM
UK Regulatory
TIDMBRD
RNS Number : 6424X
BlueRock Diamonds PLC
23 February 2017
BlueRock Diamonds plc
("BlueRock" or "the Company")
23 February 2017
Claims by a former director to the Company
The Company's former CEO, Riaan Visser, left the Company and its
operating subsidiary, Kareevlei Mining Limited ("KML") in September
2016.
In November 2016, the Company contacted Mr Visser in connection
with two creditor balances and he responded by claiming that,
whilst not in his name, these were amounts due to him. He alleges
that he is owed ZAR 3,783,486 (c. GBP232,000 based on current
exchange rates) largely in relation to advances made by him to KML
between February 2015 and January 2016, and ZAR 987,525 (c.
GBP60,500) for KML's use of a generator owned by a company
controlled by him.
The Company has investigated these claims and while advances
appear to have been received by KML, the Company has requested
further information from Mr. Visser but received no response or
legal claim from him.
The creditor balances in relation to the alleged advances were
included in the relevant accounts of the Company but largely
classified as accrued expenses related to uninvoiced third party
plant development expenditure.
The Company has taken South African legal advice and has been
advised that based on currently available information the claims
are without merit.
Further updates will be provided as appropriate.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
BlueRock Diamonds SP Angel Corporate
plc Finance LLP
Adam Waugh, CEO Nominated Adviser &
awaugh@bluerockdiamonds.co.uk Broker
Stuart Gledhill / Lindsay
Mair
+44 (0) 20 3470 0470
About BlueRock Diamonds plc (AIM: BRD)
BlueRock is a diamond mining company with activities in the
Kimberley region of South Africa. BlueRock owns a diamond
processing plant and the mining right over the Kareevlei Tenements
in South Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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