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Botswana Diamonds’ Campbell on Zim jaunt: We are interested in Kaapvaal Craton

Botswana Diamonds and Vast Resources, recently signed a memorandum of understanding to prospect for diamonds in Zimbabwe. The two companies will exchange information derived from past exploration on areas prospective for diamonds in the southern African...

09 july 2018

“Every Forevermark diamond has a unique inscription number which is an assurance that the diamond is beautiful, rare and responsibly sourced,” says Sachin Jain

Sachin Jain, President-Forevermark, joined the company - a wholly owned subsidiary of the De Beers Group - as the Head of Retail in 2010. He was swiftly promoted to the Managing Director in 2011… to later become the President in year 2013. Sachin started...

02 july 2018

In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

Jeweler-Designer Arnaud Flambeau started his career in the jewelry business in 1993 at European Gold Company CLAL as Key Account Manager for the Jewelry Division, where he was in charge of international brands like Cartier or VCA and their subcontractors...

25 june 2018

Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Petra says 95 pct of rights issue shares subscribed

03 july 2018
Petra Diamonds said it has received valid acceptances for about 95 percent of the rights issue shares offered in a five to eight rights issue announced last May.

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Image credit: Petra Diamonds


The company, which has operations in South Africa and Tanzania, had issued 332.8 million shares at 40 pence per share.
It wanted to raise $178 million to settle part of its debt, which was $622 million end of March.
Petra also said subscribers had been obtained for 16.7 million rights issue shares, which represented 5 percent of the rights issue shares at a price of 56.25p per rights issue share.
The subscribers were procured through Petra’s joint bookrunners and underwriters, which comprised RBC Capital Markets, Barclays Bank and BMO Capital Markets.
The net proceeds, it said, from the placing of such rights issue shares would be paid without interest to those persons whose rights had lapsed in accordance with the terms of the rights issue, pro rata to their lapsed provisional allotment.
It said individual amounts of less than £5 would not be paid to such persons but would be paid to the company.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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