REG - BlueRock DiamondsPLC - Board Changes

Bluerock DiamondsAnnouncement

14/09/2022 07:00

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RNS Number : 3534Z  BlueRock Diamonds PLC  14 September 2022

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

14 September 2022

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

 

Board Changes

 

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 Mike Houston has stepped down from his Board
position with immediate effect and it is anticipated that David Facey will
step down from the Board later this week.  Additionally, Victor Dingle has
joined the Board as Chief Executive Officer ('CEO') and Rob Croll has become
the new Non-executive Chairman with immediate effect.

 

Victor is an experienced executive having served as Chief Financial Officer
('CFO') of a number of public and private companies in sub-Saharan Africa.
Victor is currently CEO and CFO of the Teichmann Group, a diverse group of
companies with expertise in multi-disciplined construction services, mining,
and agriculture and the Company's largest shareholder. Victor has previously
served as CFO of MTO Forestry Proprietary Limited, Dangote Cement Limited and
Lafarge Cement.

 

Rob, who joined the board in June 2021 as an Independent Non-executive
Director, is an experienced mining engineer.  Based in South Africa, he is
has held various senior executive and consulting positions and gained
significant exposure to the financial markets. He was previously the Lead
Independent Non-Executive Director of Resource Generation Limited and brings
with him a strong independent technical and commercial perspective to
BlueRock's current operation at Kareevlei and future investments.

 

Rob Croll, Non-executive Chairman said, "This is an exciting new phase for the
Company having endured several difficult years as a result of the Covid-19
pandemic and extreme weather conditions that delayed the commissioning of the
new transformational 1Mtpa plant and the opening up of the Main Pit to
optimise its economic depth potential. The high-level review completed in
June/July this year has provided a clear but challenging path to optimising
production, which in turn will enable us to take advantage of the robust
diamond market dynamics. I look forward to updating shareholders of progress
on these developments.

 

"I would like to thank Mike for his time and vision and wish him every success
for the future.  I look forward to working closely with our major
shareholder, Teichmann, as well as our new CEO, Victor, as we focus on
building value for stakeholders and shareholders alike."

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Victor Robert
George Dingle, aged 59:

  Current directorships and/or partnerships:        Former directorships and/or partnerships (within the last five years):
 African Contracting Services Limited               ELS Timbers Pty Ltd

 DRC Agric Enterprises (Mauritius) Ltd

 ELM Mauritius Limited

 Garv3y Investment Limited

 Gold Finger Investments Ltd

 GT Properties Ltd

 JTR Investments Ltd

 JTR Property Investment Ltd

 Kipoi Holdings Mauritius Ltd

 Kongo River Holdings Mauritius Ltd

 Kongo River Plant Mauritius Ltd

 Mashamba Enterprises Mauritius Ltd

 Mashamba Meat LtdPicanin Limited

 Protech Khuthele Holdings Ltd*

 Saxum Mineral Resources Limited

 SMEIP Holdings Limited

 Teichmann Agricultural Contracting Mauritius Ltd

 Teichmann Company Limited

 Teichmann Holdings Limited

 Teichmann Plant Mauritius Ltd

 Teichmann Resources Limited

 Teichmann Structures Mauritius Ltd

 T-Three Drilling (Mauritius) Ltd

 T3 Projects Limited

 T6 Projects Limited

 Teichmann Zambia Limited

 T3 Projects Mozambique LDA

 

*Mr Dingle was a director of Protech Khuthele Holdings Ltd ('Protech') at the
time that it  was voluntarily placed into Business Rescue in June 2014. ; On
2 July 2014 an application was filed to enter into solvent liquidation
proceedings and a final winding up order was granted on 19 September 2014.
According to records held by the Company and Intellectual Property Commission
of South Africa, the current status of the business remains under 'Business
Rescue' with Mr. Dingle still listed as a director. This is believed to be an
administrative error with Mr Dingle no longer being a director and the
business having been liquidated in 2014. Mr Dingle does not hold any shares in
the Company. As noted above, Mr. Dingle is CEO and CFO of the Teichmann Group,
the Company's major shareholder.

 

There are no further disclosures required under Schedule 2(g) of the AIM Rules
for Companies.

 

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 BRD's
website www.bluerockdiamonds.co.uk (http://www.bluerockdiamonds.co.uk/)  or
contact:

 

 BlueRock Diamonds PLC

 Rob Croll, Non-executive Chairman      robcmas@netactive.co.za
 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.

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