TIDMSTEL
RNS Number : 4743S
Stellar Diamonds PLC
03 October 2017
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
3 October 2017
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Result of Open Offer
Issue of Equity
Director/PDMR Dealings
On 14 September 2017, Stellar Diamonds plc, the London listed
diamond development company focused on West Africa, announced the
details of, inter alia, an Open Offer to raise up to an additional
GBP200,000 through the issue of up to 6,153,846 new ordinary shares
at a price of 3.25 pence per share.
The Open Offer closed for acceptances on 2 October 2017 and the
Company announces that the open offer was oversubscribed and
accordingly excess entitlements applied for under the Excess
Application Facility were scaled back.
After scale back, the Company has received valid acceptances in
respect of the full allocation of 6,153,846 Open Offer Shares from
Qualifying Shareholders, raising GBP200,000 before expenses, which
includes applications for 4,920,760 Open Offer Shares under the
Excess Application Facility. Open Offer Shares issued under the
Excess Application Facility represent approximately 80% of the Open
Offer Shares offered.
Certain Directors and senior management subscribed for Open
Offer Shares at the Issue Price as follows:
Director/PMDR Holding prior Number Immediately following
to the announcement of Open Admission of
of the Open Offer Offer Shares the Open Offer
acquired shares
pursuant
to the
Open Offer
----------------- ------------------------ -------------- ---------------------------
Number % of Number % of issued
of Ordinary issued of share capital
Shares share Ordinary
capital Shares
----------------- ------------- --------- -------------- ---------- ---------------
Peter Daresbury 1,833,733 3.34% 202,910 2,036,643 3.34%
----------------- ------------- --------- -------------- ---------- ---------------
Karl Smithson 1,454,901 2.65% 71,585 1,526,486 2.50%
----------------- ------------- --------- -------------- ---------- ---------------
Rowan Carr 1,061,822* 1.94% 3,670 1,065,492 1.75%
----------------- ------------- --------- -------------- ---------- ---------------
*This figure replaces the figure of 1,037,404 shares held by Mr
Carr and his wife following the issue of 445,657 Fee Shares which
was incorrectly stated in the announcement of 11 September 2017 as
a result of an error in the existing number of shares held by Mr
Carr prior to the issue of the Fee Shares. For the avoidance of
doubt, the number of Fee Shares received by Mr Carr as stated in
the 11 September 2017 announcement was correctly stated.
Admission, settlement and total voting rights
Application has been made for 6,153,846 new Ordinary Shares
(comprising the Open Offer Shares), to be admitted to trading on
AIM and accordingly dealings are expected to commence at 8.00 a.m.
on 4 October 2017 ("Admission"). CREST accounts (for CREST
shareholders) are expected to be credited with Open Offer Shares on
4 October 2017.
Following Admission, the total number of voting rights in the
Company will be 61,007,748 and Shareholders may use this figure as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.
The Open Offer Shares issued in relation to the Open Offer will,
when issued, rank pari passu in all respects with the existing
Ordinary Shares of the Company.
Unless the context requires otherwise, all capitalised terms in
this announcement have the same meanings as those given to them in
the circular to shareholders, dated 15 September 2017, containing
full details of the Open Offer which is available on the Company's
website at www.stellar-diamonds.com.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
**S **
For further information contact the following or visit the
Company's website at www.stellar-diamonds.com.
Karl Smithson, Stellar Diamonds plc Tel: +44 (0) 20
CEO Stellar Diamonds plc 7010 7686
Philip Knowles, Tel: +44 (0) 20
CFO 7010 7686
Emma Earl Cairn Financial Advisers Tel: +44 (0) 20
Sandy Jamieson (Nominated Adviser) 7213 0880
Jon Bellis Beaufort Securities Tel: +44 (0) 20
Limited (Joint Broker) 7382 8300
Martin Lampshire Peterhouse Corporate Tel: +44 (0) 20
Finance (Joint Broker) 7469 0930
Rory Scott Mirabaud Securities
(Financial Advisers) Tel: +44 (0) 20
7878 3360
Tim Blythe Blytheweigh Tel: +44 (0) 20
Nick Elwes (Financial PR) 7138 3204
About Stellar Diamonds plc
Stellar is an AIM listed (AIM: STEL) diamond development company
focused on the 4.5 million carat high-grade and high value
Tongo-Tonguma kimberlite diamond project in the world famous
diamond fields of eastern Sierra Leone. An independently generated
mine plan, based on over 66,000m of drilling that has been
completed to date, envisages the production of over 4 million
carats, generating gross revenues of more than US$1.2 billion, over
a 21 year life of mine. Initial production at Tongo-Tonguma is
scheduled to occur in the first year of development, building up to
over 200,000 carats per annum, with a weighted average modelled
diamond value of $229 per carat. The Tongo-Tonguma mine is
estimated to give Stellar an attributable a Post-tax NPV(8) of
US$109 million and IRR of 30%.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
Notification of a Transaction pursuant to Article
19(1) of Regulation (EU) No. 596/2014
----------------------------------------------------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------
a. Name Karl Smithson
---------------------------------------
2 Reason for
notification
----- ---------------------------- ---------------------------------------
a. Position/Status Director
----- ---------------------------- ---------------------------------------
b. Initial notification/ Initial notification
Amendment
----- ---------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------
a. Name Stellar Diamonds Plc
----- ---------------------------- ---------------------------------------
b. LEI
----- ---------------------------- ---------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
----- ---------------------------------------------------------------------
a. Description Ordinary Shares of 1 pence each
of the financial
instrument,
type of instrument
GB00BYZ5QT80
Identification
Code
----- ---------------------------- ---------------------------------------
b. Nature of the Subscription for shares through
transaction Open Offer
----- ---------------------------- ---------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) per share
----- ---------------------------- -------------------- -------------
3.25 pence 71,585
------------------------------------------------------- -------------
d. Aggregated
information
71,585 shares
- Aggregated
Volume 3.25 pence per share
- Price
----- ---------------------------- ---------------------------------------
e. Date of the 3 October 2017
transaction
----- ---------------------------- ---------------------------------------
f. Place of the London AIM
transaction
----- ---------------------------- ---------------------------------------
Notification of a Transaction pursuant to Article
19(1) of Regulation (EU) No. 596/2014
----------------------------------------------------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------
a. Name Lord Peter Daresbury
---------------------------------------
2 Reason for
notification
----- ---------------------------- ---------------------------------------
a. Position/Status Director
----- ---------------------------- ---------------------------------------
b. Initial notification/ Initial notification
Amendment
----- ---------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------
a. Name Stellar Diamonds Plc
----- ---------------------------- ---------------------------------------
b. LEI
----- ---------------------------- ---------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
----- ---------------------------------------------------------------------
a. Description Ordinary Shares of 1 pence each
of the financial
instrument,
type of instrument
GB00BYZ5QT80
Identification
Code
----- ---------------------------- ---------------------------------------
b. Nature of the Subscription for shares through
transaction Open Offer
----- ---------------------------- ---------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) per share
----- ---------------------------- -------------------- -------------
3.25 pence 202,910
------------------------------------------------------- -------------
d. Aggregated
information
202,910 shares
- Aggregated
Volume 3.25 pence per share
- Price
----- ---------------------------- ---------------------------------------
e. Date of the 3 October 2017
transaction
----- ---------------------------- ---------------------------------------
f. Place of the London AIM
transaction
----- ---------------------------- ---------------------------------------
Notification of a Transaction pursuant to Article
19(1) of Regulation (EU) No. 596/2014
----------------------------------------------------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------
a. Name Rowan Carr
---------------------------------------
2 Reason for
notification
----- ---------------------------- ---------------------------------------
a. Position/Status Chief Operating Officer
----- ---------------------------- ---------------------------------------
b. Initial notification/ Initial notification
Amendment
----- ---------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---------------------------------------------------------------------
a. Name Stellar Diamonds Plc
----- ---------------------------- ---------------------------------------
b. LEI
----- ---------------------------- ---------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
----- ---------------------------------------------------------------------
a. Description Ordinary Shares of 1 pence each
of the financial
instrument,
type of instrument
GB00BYZ5QT80
Identification
Code
----- ---------------------------- ---------------------------------------
b. Nature of the Subscription for shares through
transaction Open Offer
----- ---------------------------- ---------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) per share
----- ---------------------------- -------------------- -------------
3.25 pence 3,670
------------------------------------------------------- -------------
d. Aggregated
information
3,670 shares
- Aggregated
Volume 3.25 pence per share
- Price
----- ---------------------------- ---------------------------------------
e. Date of the 3 October 2017
transaction
----- ---------------------------- ---------------------------------------
f. Place of the London AIM
transaction
----- ---------------------------- ---------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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