| Wed 17 Sep 2008, 15:00 | | RDI - Rockwell Responds To Allegations That Pala Denied Right To Vote At AGM |
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RDI
RDI
RDI - Rockwell Responds To Allegations That Pala Denied Right To Vote At AGM
ROCKWELL DIAMONDS INCORPORATED
(A company incorporated in accordance with the laws of British Columbia, Canada)
(Incorporation number BCO354545)
(Formerly Rockwell Ventures Inc.)
(South African registration number: 2007/031582/10)
Share code on the JSE Limited: RDI & ISIN: CA77434W1032
Share code on the TSX: RDI & CUSIP Number: 77434W103
Share code on the OTCBB: RDIAF
("Rockwell")
ROCKWELL RESPONDS TO ALLEGATIONS
THAT PALA DENIED RIGHT TO VOTE AT AGM
September 16, 2008, Vancouver, B.C. - Rockwell Diamonds Inc. ("Rockwell" or the
"Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) responds to the announcement by
Pala Investments Holdings Limited ("Pala") that Pala was denied the right to
vote its common shares of Rockwell at the Company`s annual general meeting (the
"AGM") held September 15, 2008 in London.
To vote at the AGM, as is the case at all annual meetings of public companies, a
shareholder was required to either be a registered shareholder or properly
instruct their broker or financial intermediary to vote at the AGM. Pala is not
a registered shareholder of the Company and therefore was required to either
deposit a proxy within the appropriate timeframes or deliver a letter from a
registered shareholder appointing Pala as its authorized representative at the
AGM. Contrary to its press release, Pala did not meet these requirements.
According to the voting report prepared by the Company`s transfer agent,
Computershare, Pala neither deposited a valid proxy nor delivered a letter on
behalf of a registered shareholder appointing Pala its authorized
representative.
The Chair of the AGM carefully considered the request of Pala to vote at the AGM
and adjourned the meeting to examine, with the assistance of independent counsel
and the independent scrutineer appointed at the AGM, the shareholder register of
the Company and the report of proxies validly deposited with the Company. The
Chair ruled that Pala had not met the requirements to vote at the meeting.
Before ruling, the Chair allowed Pala and its counsel time to examine the
shareholder register with a representative of Computershare and to make further
submissions regarding its failure to adhere to the stated voting procedures. The
Company notes that certain other shareholders, some of whom wished to cast
sizeable votes in favour of the motions before the meeting, were not allowed to
vote at the AGM as they also failed to comply with the applicable voting
requirements.
For further details on Rockwell Diamonds Inc., please visit the Company`s
website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-
6365 or within North America at 1-800-667-2114.
John Bristow
President and CEO
No regulatory authority has approved or disapproved the information contained in
this news release.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking
statements". Other than statements of historical fact all statements in this
release that address future production, reserve or resource potential,
exploration drilling, exploitation activities and events or developments that
the Company expects are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploitation and exploration successes, changes in and the effect of
government policies regarding mining and natural resource exploration and
exploitation, availability of capital and financing, geopolitical uncertainty
and political and economic instability, and general economic, and market or
business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or developments may
differ materially from those projected in the forward-looking statements. For
more information on Rockwell, Investors should review Rockwell`s annual Form 20-
F filing with the United States Securities and Exchange Commission www.sec.com
and its home jurisdiction filings that are available at www.sedar.com.
Canada
17 September 2008
Sponsor
Sasfin Capital (A division of Sasfin Bank Limited)
Date: 17/09/2008 15:00:01 Produced by the JSE SENS Department.
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