Stellar Diamonds Targeted for Reverse Takeover

Mining and Exploration
21/08/2016 12:31

Stellar Diamonds suspended its share trading on London's AIM on Friday due to a possible reverse takeover transaction. The London-listed diamond developer said the deal would require the publication of an admission document and be subject to shareholder approval. It also stressed that there is no guarantee that the potential transaction will be completed. As a result, trading in the company’s shares on AIM were suspended until either an admission document is published or the company announces that the potential transaction will no longer be proceeding.

The company noted that it would make a further announcement in respect of the potential transaction in due course. Stellar Diamonds is developing its Tongo project in Sierra Leone and Baoulé mine in Guinea, and also has two exploration licenses in Liberia.