PRG Paragon Diamnd

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi



1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are                       Paragon Diamonds Ltd
attached:ii

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                                            x

An acquisition or disposal of qualifying financial instruments which may result
in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the                        Obtala Resources Ltd
notification obligation:iii

4. Full name of shareholder(s)
 (if different from 3.):iv

5. Date of the transaction and date on
which the threshold is crossed or                                    02/01/2015
reached: v

6. Date on which issuer notified:                                    07/01/2015

7. Threshold(s) that is/are crossed or                                   20%
reached: vi, vii





8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type  Situation previous                  Resulting situation after the triggering transaction
of          to the triggering
shares      transaction

            Number                Number        Number   Number of voting        % of  voting rights
if possible of                    of            of       rights                  x
using       Shares                Voting        shares
the ISIN                          Rights
CODE                                            Direct   Direct xi Indirect xii  Direct  Indirect

Ordinary 1-

            6,970,558             6,970,558     970,558  970,558                 0.35%

GG00B6684H4



B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of       Expiration           Exercise/              Number of voting             % of voting
financial     date xiii            Conversion Period xiv  rights that may be           rights
instrument                                                acquired if the
                                                          instrument is
                                                          exercised/ converted.

SPREADBET                                                 53,675,000                   19.48%



C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments xv, xvi

Resulting situation after the triggering transaction

Type of      Exercise price       Expiration  Exercise/  Number of voting rights    % of voting
financial                         date xvii   Conversion instrument refers to       rights xix, xx
instrument                                    period
                                              xviii

                                                                                    Nominal Delta





Total (A+B+C)

Number of voting rights                                Percentage of voting rights

54,645,558                                             19.83%





9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi







Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:




13. Additional information:

14. Contact name:                                                       Ilene Hardy

15. Contact telephone number:                                          020 7099 1940