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Botswana Diamonds to List on AIM in January

Lucara's takeover of African Diamonds expected to close early January.
Nov 28, 2010 4:17 AM   By Avi Krawitz
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RAPAPORT... Botswana Diamonds expects to list on London’s Alternative Investment Market (AIM) in January 2011, company chairman John Teeling said. The listing is part Lucara Diamond’s agreement to takeover African Diamonds (AFD), which is expected to close in early January.

Under the deal, Lucara gained full control of Botswana’s AK6 mine, while Botswana Diamonds was set up to hold all of AFD’s other assets. In addition, AFD shareholders will gain a 26.57 stake in Lucara.

“I am pleased that the shareholders have resoundingly voted in support of the sale of African Diamonds to Lucara,” Teeling said.

AFD shares are scheduled to be suspended on December 17 with final cancellation of the shares taking place four days later.

Tags: Avi Krawitz, African Diamonds, Avi Krawitz, Lucara Diamond
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