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                                    27/02/2015
reached: v

6. Date on which issuer notified:                                    02/03/2015

7. Threshold(s) that is/are crossed or                        Holding has gone below 5%
reached: vi, vii





8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of  Situation         Resulting situation after the triggering transaction
shares         previous
               to the triggering
               transaction
if possible
using          Number   Number   Number    Number of voting       % of  voting rights x
the ISIN CODE  of       of       of shares rights
               Shares   Voting
                        Rights   Direct    Direct xi Indirect xii Direct    Indirect

Ordinary 1-

               970,558  970,558  0         0                      0.0%

GG00B6684H4




B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

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

SPREADBET                                            13,175,000             4.78%




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

Resulting situation after the triggering transaction

Type of    Exercise Expiration   Exercise/     Number of voting rights   % of voting
financial  price    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

13,175,000                               Below 5%





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