Firestone Diamonds plc (FDI) – Secondary listing on Botswana Stock Exchange
Secondary listing on Botswana Stock Exchange
Firestone Diamonds plc, the AIM-quoted diamond mining and exploration company (FDI), announces that it intends to apply for a secondary listing of shares in the Company on the Botswana Stock Exchange and has appointed Capital Securities of Botswana as Sponsoring Broker in relation to the proposed listing. The secondary listing application is expected to be made shortly, and listing is expected to take place in Q2 2010.
With most of Firestone's current operations now focused on Botswana and production due to commence at the Company's BK11 kimberlite in Q2 2010, the Company has applied for and been granted Local Asset Status by the Non-Bank Financial Institutions Regulatory Authority of Botswana. The ability of Botswana-based institutional investors to invest in Botswana Stock Exchange listed companies is significantly improved by the granting of Local Asset Status.
Philip Kenny, CEO of Firestone Diamonds, commented: "Firestone has made a substantial investment in its Botswana operations, which are now the primary focus for the Company. With BK11 due to commence production shortly, and more than 100 kimberlites in our licence areas in the Orapa, Jwaneng and Tsabong regions, we believe that we have a successful future ahead of us in Botswana and look forward to growing our shareholder base in Botswana."