March 23, 2017

Result of Open Offer

23 March 2017

AIM: STEL

Stellar Diamonds plc

(“Stellar” or the “Company”)

Result of Open Offer

On 27 February 2017, Stellar Diamonds plc, the London listed diamond development company focused on West Africa announced details of, inter alia, an Open Offer to raise up to an additional £250,000 through the issue of up to 4,545,455 new ordinary shares at a price of 5.5 pence per share.

The Open Offer closed for acceptances on 22 March 2017 and the Company announces that it has received valid acceptances in respect of 3,340,931 Open Offer Shares from Qualifying Shareholders, conditionally raising £183,751 gross of expenses, which includes applications for 1,959,033 Open Offer Shares under the Excess Application Facility. This represents approximately 73.5 per cent. of the Open Offer Shares offered.

Pursuant to the Conditional Placing, 1,381,818 of the Open Offer Shares were conditionally placed by the Company’s joint broker, Peterhouse Corporate Finance Limited, subject to clawback, to satisfy valid applications under the Open Offer. Due to the level of valid acceptances received under the Open Offer, the Conditional Placing has been scaled back in full.

The Open Offer remains conditional on, amongst other things, shareholder approval and admission of the new ordinary shares to be issued pursuant to the Open Offer to trading on AIM. Such approval is being sought at the annual general meeting of the Company to be held at 10a.m. on 24 March 2017 at the offices of Peterhouse Corporate Finance Limited, New Liverpool House, 15 Eldon Street, London, EC2M 7LD. It is expected that the Open Offer Shares will be admitted to trading on AIM on 27 March 2017.

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 www.stellar-diamonds.com.

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 Guinea and Sierra Leone.