DMR
DMR
DMR - Diamond Core Resources Limited - Updated cautionary announcement
DIAMOND CORE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/013468/06)
Share code: DMR & ISIN Number: ZAE000076956
UPDATED CAUTIONARY ANNOUNCEMENT
1. Introduction
In the detailed cautionary announcement dated 5 July 2007, shareholders
were advised that Diamond Core Resources Limited ("DC") and BRC Diamond
Corporation ("BRC") had signed a Pre-Merger Agreement which provided that,
subject to certain conditions being fulfilled, BRC would make an offer to
the shareholders of DC to effect a merger of the two companies ("Merger").
This announcement is to update shareholders on the progress made with
regards to the Merger. Further information is also to be made available to
shareholders in the joint press release of DC and BRC to be published
simultaneously with this announcement. Neither the Pre-Merger Agreement
itself, this announcement nor the press release is a firm intention to make
an offer to the shareholders of DC for the purposes of the Securities
Regulation Code on Takeovers and Mergers.
2. Update
DC has been working jointly with BRC to prepare all the necessary
documentation and filings to give effect to the Merger and good progress
has been made in this regard. In addition, each of DC and BRC have
commenced diligence exercises in relation to, inter alia, the business and
assets of the other of them.
3. Shareholder support
BRC has received irrevocable commitments supporting the Merger from 8
shareholders in respect of approximately 52% of all of the shares in the
issued ordinary share capital of DC. In addition, the directors of DC, who
beneficially hold approximately 3.7% of the shares in the issued ordinary
share capital of DC, have agreed to recommend the Merger to DC`s
shareholders, subject to their fiduciary obligations and the receipt of a
favourable fair and reasonable opinion.
4. Renewal of cautionary announcement
Shareholders of DC are advised to continue exercising caution when dealing
in DC`s securities until a further announcement is made.
For further information or enquiries, please contact Theo Botoulas on
+(27)828522150 or on +(27)117064888.
02 August 2007
Johannesburg
Sponsor
River Group
Date: 02/08/2007 12:10:01 Produced by the JSE SENS Department.
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