Tuesday, November 13, 2007

Investec Botswana Buys 10% Stake in African Diamonds

Investment bank, Investec of Botswana, has bought 10.09 percent of African Diamonds plc, the diamond exploration company announced.
Investec acquired 7.68 million shares in the company at prices between GBP 1 and GBP 1.15 per share giving Botswana investors 15 percent of the company. African Diamonds is duel-listed on London’s AIM and the Botswana Stock Exchange.
“I am delighted with this purchase by Investec Botswana on behalf of their investors," said John Teeling, chairman of African Diamonds. "Over 10 percent of African Diamonds is a significant commitment and is very positive news for our shareholders insofar as knowledgeable investors on the ground in Botswana see value in our shares.”
“The listing of African Diamonds on the Botswana Stock Exchange as well as AIM is working well. Over 300 Botswanian investors now hold in excess of 15 percent of the company,” Teeling said.
African Diamonds focuses on diamond exploration in west Africa and has operations in Sierra Leone and Guinea.

Diamonds.net News - Investec Botswana Buys 10% Stake in African Diamonds