October 12, 2010

Dealings by Directors and Significant Shareholders



Stellar Diamonds plc (“Stellar” or the “Company”)

Stellar, the AIM-quoted diamond mining and exploration company focused on West Africa, announces that the following directors, having participated in the Company’s recent £1.9 million placing (“the Placing”), have been allotted new Ordinary Shares of 5 pence each at a price of 5 pence per share (“Placing Shares”) and granted one warrant for every two Placing Shares, each with an exercise price of 12 pence for a period of 18 months. Their participation and each of their resulting interests in the enlarged share capital are set out below.

Directors New Ordinary Shares Purchased New Total Shareholding % of Company New Warrants Granted Total Warrants
Lord Daresbury 794,200 3,444,656 2.47% 397,100 397,100
Karl Smithson 130,000 645,757 0.46% 65,000 65,000
Angus Ogilvie 40,000 184,136 0.13% 20,000 20,000
James Campbell 80,000 140,430 0.10% 40,000 40,000
Luis da Silva 128,400 294,839 0.21% 64,200 64,200
Steven Poulton 147,000 433,601 0.31% 73,700 73,700

The Company also confirms that Richmond Capital LLP currently holds an aggregate of 21,446,287 Ordinary Shares, representing 15.4% of the enlarged share capital following its participation in the Placing and its purchase of Ordinary Shares from Altima Partners LLP. Altima Partners LLP has notified Stellar that it no longer holds an interest in the Company and the Company has duly accepted the resignation of Altima’s representative on the Stellar Board, Paul Rankine.

Lord Daresbury, Stellar’s non-executive chairman, comments, “I would like to take this opportunity on behalf of the Board to thank Paul for his valued contribution over the past three years and wish him well in the future.”

The Company is awaiting confirmation of holdings by other significant shareholders that participated in the Placing and may make further announcements in due course.


Stellar Diamonds plc
Karl Smithson, Chief Executive
Tel: +44 (0) 7783 707 971

Angus Ogilvie, Finance Director
Tel: +44 (0) 7885 201 903

RBC Capital Markets
Martin Eales / Brett Jacobs
Tel: +44 (0) 20 7653 4000

Astaire Securities
Charles Vaughan
Tel: +44 (0) 20 7492 4763

Pelham Bell Pottinger
Charles Vivian / James MacFarlane
Tel: +44 (0) 20 7861 3232

About Stellar Diamonds plc
Stellar Diamonds plc is a London (AIM: STEL) quoted diamond mining and exploration company that has a portfolio of projects in West Africa. Two projects in Guinea are in production, Mandala and Bomboko, which provide cash flow to the Company.

Stellar also owns rights over four high-grade kimberlites that are the focus of further development. In Sierra Leone the Tongo and Kono projects comprise a series of kimberlite dykes, with the Kono project having produced 4,200 carats of diamonds through underground trial mining. In Guinea the Droujba kimberlite pipe and the Bouro kimberlite dykes are located in proximity to the Mandala mine and demonstrate grades of up to 200cpht and 500cpht respectively.