Stellar Diamonds Announces Possible Reverse Takeover

August 21, 2016

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August 21, 16 by Albert Robinson

(IDEX Online News) – Stellar Diamonds plc, the London listed diamond development company focused on West Africa, announced that the company’s ordinary shares were suspended from trading on the AIM exchange with effect from early on Friday pending announcement of a potential transaction.

If completed, it would be classified as a Reverse Takeover under the AIM rules for companies and would require the publication of an admission document and also be subject to shareholder approval.

There is no guarantee that the potential transaction will be completed, the firm noted.

“Accordingly, trading in the company’s shares on AIM will be suspended until either an admission document is published or the company announces that the potential transaction will no longer be proceeding. 

“The company intends to make a further announcement in respect of the potential transaction in due course,” the firm added.

Category: General