West Australian Supreme Court approves merger of Crown Diamonds NL & Petra Diamonds

03 Jun '05

2 min read

Australia based diamond company Crown Diamonds NL' BOD is pleased to advise that the Supreme Court of Western Australia has today given orders approving the Schemes of Arrangement passed by the Shareholders and Convertible Note holders at their respective meetings held on 25 May 2005.

It is intended that these orders will be lodged with the Australian Securities and Investment Commission on 3 June 2005.

The proposed timetable to effect the Schemes is as follows:-

Last day for trading of Shares and Convertible Notes on the ASX -3 June 2005

Record date for participation in the Schemes - 10 June 2005

Deferred settlement trading commences on ASX - 14 June 2005

Implementation date of Schemes - 14 June 2005

Dispatch of holding statements for Petra shares and amended convertible notes - On or before 16 June 2005

Normal trading commences for Petra shares and amended convertible notes on the ASX - 17 June 2005

Petra Diamonds Limited has specialised in the exploration and exploitation of gem quality diamond deposits in Southern Africa. It has operated throughout the region and its main exploration assets are situated in northeast Angola. The group has expanded its scope of operations to include physical mining. Currently it is actively investigating other mining projects covering diamonds, platinum and gold.

Crown Diamonds

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