Key Developments: Cape Resources PLC (CAPE.L)
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Latest Key Developments
Cape Diamonds PLC Announces Termination Of Merger Discussions And Toll Treatment Contract With KMG Diamond Resources Plc's Subsidiary; Secures Loan
Cape Diamonds PLC announced that discussions relating to the proposed acquisition by Cape Diamonds of the entire issued share capital of KMG Diamond Resources (Pty) Limited (KMG SA), the operating subsidiary of KMG Diamond Resources Plc (KMG), have terminated. The Company also announced that the toll treatment agreement announced on 23 May 2008, between the Company and KMG's subsidiary, KMG Mining Services (Pty) Limited (KMG Mining Services), has also been terminated, with immediate effect. This agreement was to toll process the tailings deposit at the Frank Smith Mine operated by KMG SA, on a cost plus basis using Cape Diamond's DMS plant at the Elandslaagte Mine. In the interim, the Company has secured £1 million from Keysha Investments 194 (Pty) Limited by way of a convertible loan (the Loan), the conversion of which is subject to shareholder approval. The proceeds of the Loan will be used to recapitalise Golden Falls Mining (Pty) Ltd and for general working capital purposes.
Cape Diamonds PLC's David Gadd Claxton To Step Down As Chief Executive Officer
Cape Diamonds PLC announced that David Gadd-Claxton, Chief Executive Officer, has indicated his intention to step down and become a non-executive Director of the Group from August 22, 2008.
Cape Diamonds PLC Announces Agreement with KMG Diamonds Resources Plc
Cape Diamonds PLC announced that it has signed an agreement with KMG Diamond Resources Plc (KMG) to acquire the entire issued share capital of its operating subsidiary KMG Diamond Resources (Pty) Limited.
Cape Diamonds PLC Announces Toll Treatment Contract With KMG
Cape Diamonds PLC announce that it has signed a contract with KMG Mining Services (KMG), whereby the Company has agreed to toll process the tailings deposit at the Frank Smith Mine on a cost plus basis using the Company's recently installed DMS plant at the Elandslaagte Mine.
Cape Diamonds PLC Announces Appointment Of Chief Executive Officer
Cape Diamonds PLC announced the appointment of Mr. David Gadd-Claxton, as Chief Executive Officer of the Company with immediate effect.
Cape Diamonds PLC Announces Chairman Change
Cape Diamonds PLC announced that at the time of the annual report and accounts Masoud Alikhani stood down from the Board of Cape Diamonds Plc on February 22, 2008, and Dr Anna Theresa Masmo Mokgokong took up the position of acting Chairperson.
Cape Diamonds PLC Announces Issue of Equity
Cape Diamonds PLC announced that it has issued 10,000,000 new ordinary shares in the Company to Forreston Limited, a subsidiary of Golden Hope Limited (Golden Hope) at 30 pence per share to raise £3,000,000. Golden Hope now beneficially holds 11,690,000 ordinary shares in Cape Diamonds being 26.2% of the enlarged share capital of the Company.
Cape Diamonds PLC Announces Holding Interest Of Mr. Masoud Alikhani
Cape Diamonds PLC announced that Mr. Masoud Alikhani, Non-Executive Chairman of the Company, has an aggregate interest in 3,081,420 shares, being equivalent to approximately 8.91% of the issued share capital of the Company.
Cape Diamonds PLC Announces Management Changes
Cape Diamonds PLC announced that Masoud Alikhani has been redesignated as Non-Executive Chairman of the Board and Merika Johannes Madungandaba has been appointed as Finance Director of the Company, effective June 15, 2007.
Cape Diamonds PLC Announces Issue Of Shares
Cape Diamonds PLC announced that it has issued 1.6 million new ordinary shares in the Company at £1 per ordinary share to raise £1,520,000 net of expenses, representing 4.62 % of the enlarged share capital.
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