REG - BlueRock DiamondsPLC - Board Change & Convertible Loan Update

Bluerock DiamondsAnnouncement

14/10/2022 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221014:nRSN9218Ca&default-theme=true

RNS Number : 9218C  BlueRock Diamonds PLC  14 October 2022

BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

14 October 2022

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

 

Board Change & Convertible Loan Update

 

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and
operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of
South Africa, announces that Non-Executive Director Tim Leslie has stepped
down from the Board with immediate effect.

 

The Board would like to thank Mr. Leslie for his commitment to the Company
over what has been a transformational period for the business and wish him
success in the future.  The Company had previously notified Mr. Leslie's
intention to step down and the search for a suitable candidate is well
underway; further updates will be provided in due course.

 

Convertible Loan Note

 

The Company is also providing an update on its £462,500 Convertible Loan Note
held 50% by Mr. Leslie.

 

Following the partial repayment and extension of the term of the Company's
original £925,000 Convertible Loan Note during 2021, the remaining balance of
£462,500 is due for repayment on 16 October 2022. The Company has made a
proposal to the holders of the Convertible Loan Note in order to defer its
repayment over a period of months in order to provide the Company with
additional cash headroom as it continues to invest in developing Kareevlei.
 Further updates will be announced as appropriate.

 

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 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

**ENDS**

 

For further information, please visit BlueRock's
website www.bluerockdiamonds.co.uk (http://www.bluerockdiamonds.co.uk/)  or
contact:

 

 BlueRock Diamonds PLC

 Victor Dingle, CEO                     v.dingle@bluerockdiamonds.co.uk
 SP Angel (NOMAD and Broker)

 Stuart Gledhill / Caroline Rowe        Tel: +44 (0)20 3470 0470
 St Brides Partners Ltd (Financial PR)

 Isabel de Salis / Charlotte Page       bluerock@stbridespartners.co.uk

 

Notes to editors:

BlueRock Diamonds is an AIM-listed diamond producer which operates the
Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds
of exceptional quality and ranks in the top ten in the world in terms of
average value per carat. The Kareevlei licence area covers 3,000 hectares and
hosts five known diamondiferous kimberlite pipes with a combined inferred
resource of 10.4 million tonnes / 516,200 carats (February 2021); based on its
planned production of 1 million tonnes per annum, this provides a minimum
10-year life of mine.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDGPGQPUUPPUQC