Stellar Diamonds Limited

Published : October 24th, 2012

Further Investment by Major Shareholder

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24 October 2012

AIM: STEL

Stellar Diamonds plc

("Stellar" or the "Company")

Further Investment by Major Shareholder

Stellar Diamonds plc, the London listed (AIM: STEL) Diamond mining and exploration company focused on West Africa, announces that its largest shareholder, Nassim Funds, has increased its equity interest in the Company from approximately 11.1% to 14.0% by way of a subscription of �311,250. In total, �346,520 has been raised before expenses through the issue of 10,828,750 new ordinary shares (the �Subscription Shares�), representing 3.68% of the enlarged issued share capital of the Company.

The Subscription Shares were issued at 3.2p per share, a premium of 6.6% over the midmarket price at the time the subscriptions were agreed.

Karl Smithson, Chief Executive of Stellar, commented:

"We welcome the further investment by our largest shareholder, demonstrating their growing and long-term support of the Company, together with the subscription by other existing shareholders. We are currently in the process of compiling updated resource statements for the Droujba and Tongo projects and remain on track to announce these during the final quarter of this year. We then envisage taking the projects into pre-feasibility studies with a view to advancing them to production in the shortest possible time frame. I look forward to updating shareholders as we progress.�

Further information about the Company can be found at www.stellar-diamonds.com

Subscription and use of proceeds

The Subscription will raise �346,520 before the deduction of expenses payable by the Company. The net proceeds will be applied to continue with the stated objectives of completing the revised resource statement work during the final quarter of 2012.

The 10,828,750 Subscription Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued.

Application has been made for admission of the Subscription Shares to trading on AIM (�Admission�). It is expected that Admission will be effective on or around 8.00 am on Monday 29 October 2012.

Related party transaction

Nassim Funds, and entities controlled by or associated with it (�Nassim�), who are interested in an aggregate of 31,543,333 existing Ordinary Shares representing 11.1 per cent. of the issued ordinary share capital, have subscribed for 9,735,000 Subscription Shares (�the Nassim subscription�). On Admission, Nassim will be interested in 41,278,333 Ordinary Shares (14.0 per cent. of the enlarged issued share capital). The Nassim subscription is deemed to be a related party transaction under the AIM Rules for Companies ("the AIM Rules"). The Board, having consulted with the Company's Nominated Adviser, Northland Capital Partners Limited, considers that the terms of the Nassim subscription are fair and reasonable insofar as the shareholders of the Company are concerned.

Total voting rights

Following Admission, the Company's total issued share capital will comprise of 294,512,400 Ordinary Shares. The Company does not hold any ordinary shares in treasury. Therefore, the total number of shares with voting rights in the Company will be 294,512,400. This figure may be used by shareholders in the Company 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 share capital of the Company following Admission.

Enquiries:

Stellar Diamonds plc

Karl Smithson,Chief ExecutiveTel: +44 (0) 20 7010 7686

Northland Capital Partners Limited

(Nominated Advisor and Broker)

Gavin Burnell, Edward Hutton Tel: +44 (0) 20 7796 8800

Daniel Stewart & Company plc

(Joint Broker)

Martin Lampshire, Antony Legge Tel: +44 (0) 20 7776 6550

Pelham Bell Pottinger

James MacFarlane, Joanna Boon Tel: +44 (0) 20 7861 3232

Copyright � 2012 Stellar Diamonds Plc, All rights reserved.
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Stellar Diamonds Plc
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Stellar Diamonds Limited

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Stellar diamonds is a diamonds exploration company based in United kingdom.

Stellar diamonds holds various exploration projects in Guinea and in Sierra Leone.

Its main asset in production is BOMBOKO in Guinea, its main asset in development is KONO in Sierra Leone and its main exploration properties are PIPE 3 & DYKES, EPL11 and TONGO in Sierra Leone.

Stellar diamonds is listed in United Kingdom. Its market capitalisation is GBX 507.7 millions as of today (US$ 601.6 millions, € 553.8 millions).

Its stock quote reached its lowest recent point on January 29, 2010 at GBX 10.04, and its highest recent level on October 31, 2024 at GBX 27.50.

Stellar diamonds has 18 460 000 shares outstanding.

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In the News and Medias of Stellar Diamonds Limited
3/12/2018Newfield acquires Stellar Diamonds for $23.6 million
3/5/2018Stellar Diamonds mulls takeover offer as losses deepen
3/1/2018Stellar Diamonds Sierra Leone project takes key step forward
10/16/2017Stellar Diamonds soars on $1.25 million-sale of Guinea asset...
9/26/2017Stellar Diamonds pays for the Tongo environmental licence
8/14/2017Stellar Diamonds extends sale of Guinea assets, refinances l...
Financings of Stellar Diamonds Limited
4/26/2011Directors Share Purchases
Nominations of Stellar Diamonds Limited
4/1/2011Appointment of Nominated Adviser Appointment of Joint Broke...
Project news of Stellar Diamonds Limited
2/14/2013COMMENCEMENT OF ECONOMIC SCOPING STUDIES
9/18/2012High Diamond Grade and Large Diamonds from Bulk Sampling of ...
4/2/2012(Droujba)Significant Maiden Diamond Resource at Droujba Kimberlite Pi...
2/6/2012(Kono)Encouraging Diamond Grades from Lion-5 Kimberlite Project in...
1/19/2012(Tongo)Encouraging Diamond Grades and Values at Tongo Kimberlite Pr...
8/16/2011(Tongo)Drilling underway at Tongo Project in Sierra Leone
8/10/2011Independent Consultant Appointed for Maiden Resource Estimat...
7/11/2011(Tongo)Progress Update on Tongo Kimberlite Dyke Project in Sierra L...
6/27/2011(Droujba)Drilling Update on Droujba Kimberlite Pipe, Guinea
3/15/2011HIGHLY ENCOURAGING DIAMOND GRADES FROM BOURO KIMBERLITE PROJ...
2/15/2011(Tongo)Encouraging Diamond Grades From Tongo Kimberlite Project In ...
Corporate news of Stellar Diamonds Limited
3/19/2013INTERIM UNAUDITED SIX MONTH RESULTS TO 31 DECEMBER 2012
2/5/2013SHARE PLACING AND SUBSCRIPTION
11/13/2012Holdings in Company
10/24/2012Further Investment by Major Shareholder
10/24/2012FINAL RESULTS FOR THE YEAR ENDED 30 JUNE 2012
10/9/2012Change of Registered Office Address
10/2/2012Encouraging Microdiamond Results from Katcha Kimberlite in G...
9/26/2012(Droujba)Large Diamonds and High Grades from Bulk Sampling of Droujba...
9/11/2012(Tongo)Completion of Resource Expansion Drilling at Tongo Kimberlit...
8/6/2012High Diamond Grades from Bulk Sampling of the Katcha Dyke in...
7/31/2012(Tongo)Tongo Licence Renewed in Sierra Leone
7/27/2012Director Shareholding
7/5/2012(Tongo)Resource Expansion Drilling at Tongo Kimberlite Project=2C S...
6/25/2012(Droujba)Further Encouraging Diamond Grades from Bulk Sampling of the...
5/31/2012Total Voting Rights
5/21/2012RESULT OF GENERAL MEETING
5/2/2012PROPOSED PLACING AND CAPITAL REORGANISATION
4/12/2012(Kono)High Diamond Grades and Values from Lion-5 Kimberlite in Kon...
4/12/2012(Kono)Kono Licence Dispute
3/26/2012(Tongo)Significant Maiden Diamond Resource at Tongo Kimberlite Dyke...
2/22/2012(Droujba)Large Diamonds Recovered from Bulk Sampling at Droujba Kimbe...
1/31/2012INTERIM UNAUDITED SIX MONTH RESULTS TO 31 DECEMBER 2011
12/19/2011(Droujba)Further Encouraging Microdiamond Results for Droujba Kimberl...
11/28/2011(Droujba)Resource Drilling Completed on Droujba Kimberlite Pipe in Gu...
9/26/2011Notice of Results
9/13/2011(Droujba)Progress Update on Droujba Kimberlite Pipe
6/13/2011Change of Registered Office Address
4/19/2011(Droujba)Further Encouraging Microdiamond Results from Droujba Kimber...
4/13/2011(Droujba)Encouraging drilling results from the Droujba kimberlite pip...
3/28/2011RESULT OF GENERAL MEETING
3/10/2011Proposed Placing To Raise =A36.2 Million
3/4/2011Interim Unaudited Six Month Results To 31 December 2010
2/21/2011Strategic and Operational Update
6/30/2010Bulk Sampling to Commence on Tongo Kimberlite in Sierra Leon...
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AIM (STEL)
27.50-1.26%
AIM
GBX 27.50
10/31 12:55 -0.350
-1.26%
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21.47 -  27.93 0.255%
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33,234 10.49%
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