March 24, 2017

Result of Annual General Meeting Issue of Equity Director Dealings and Total Voting Rights

24 March 2017


Stellar Diamonds plc

(“Stellar” or the “Company”)

Result of Annual General Meeting

Issue of Equity

Director Dealings

and Total Voting Rights

Stellar Diamonds plc, the London listed diamond development company focused on West Africa, announced on 27 February 2017 details of the Open Offer, Subscription and issue of Director Fee Shares which were all conditional on, inter alia, Shareholder approval.

The Board is pleased to announce that at the Company’s Annual General Meeting held today, all resolutions were duly passed.

Pursuant to the Open Offer and Subscription and conditional on Admission (as defined below), the Company will have raised gross proceeds of £203,751 through the issue of 3,704,567 new ordinary shares at a price of 5.5 pence per share (“Issue price”). In addition, as previously announced, conditional on Admission, 1,314,969 new Ordinary Shares will be issued to certain Directors of the Company in settlement of outstanding fees owed (also at the Issue Price).

Following Admission, the Directors will hold the following numbers of ordinary shares in the Company:

Director Number of shares held prior to Admission Number of Director Fee Shares Number of Subscription Shares Number of shares held following Admission Percentage holding of issued share capital following Admission
Peter Daresbury 628,936 639,358 1,268,294 2.97%
Karl Smithson 728,266 389,844 1,118,110 2.62%
Steven Poulton 567,342 285,767 363,636 1,216,745 2.85%

Admission and Total voting rights

Application has been made for 5,019,536 new Ordinary Shares (comprising the Open Offer Shares, Subscription Shares and Director Fee Shares) to be admitted to trading on AIM and accordingly dealings are expected to commence at 8.00 a.m. on 27 March 2017.

Following Admission, the total number of voting rights in the Company will be 42,721,618 and Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

The new Ordinary Shares issued in relation to the Open Offer, Subscription and Director Fee Shares will, when issued, rank pari passu in all respects with the Existing Ordinary Shares of the Company.

Unless the context requires otherwise, all capitalised terms in this announcement have the same meanings as those given to them in the circular to shareholders, dated 28 February 2017, containing full details of the Open Offer, Subscription and issue of Director Fee Shares which is available on the Company’s website at

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

** ENDS **

For further information contact the following:

Karl Smithson, CEO

Philip Knowles, CFO

Stellar Diamonds plc

Stellar Diamonds plc

Tel: +44 (0) 20 7010 7686

Tel: +44 (0) 20 7010 7686

Emma Earl

Sandy Jamieson

Cairn Financial Advisers (Nominated Adviser) Tel: +44 (0) 20 7213 0880
Jon Bellis Beaufort Securities Limited (Joint Broker) Tel: +44 (0) 20 7382 8300
Martin Lampshire

Rory Scott

Peterhouse Corporate Finance (Joint Broker)

Mirabaud Securities (Financial Advisers)

Tel: +44 (0) 20 7469 0930

Tel: +44 (0) 20 7878 3360

Lottie Brocklehurst

Charlotte Page

St Brides Partners Ltd

(Financial PR)

Tel: +44 (0) 20 7236 1177

About Stellar Diamonds plc

Stellar is an AIM listed (AIM: STEL) West African focused diamond company with projects at the trial mining and mine development stages in Sierra Leone and Guinea.