TIDMNAD
RNS Number : 1581Y
Namakwa Diamonds Limited
28 August 2009
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August 28, 2009
LSE: NAD
Namakwa Diamonds Limited
Establishment of Employee Benefit Trust
Namakwa Diamonds Limited ("Namakwa" or the "Company"), a vertically integrated
diamond resource company, today announces that it has executed a trust deed
constituting the Namakwa Diamonds Employee Benefit Trust (the "EBT") with
Namakwa Diamonds Trustees Limited, a wholly owned subsidiary of the Company,
appointed as trustee (the "Trustee"). The establishment of the EBT enables the
Trustee to acquire shares in the Company and to make interests in those shares
available for the benefit of current and future employees of the Company and its
subsidiaries (the "Group"), as part of the Group's employee incentive strategy.
For further information please contact:
Namakwa Diamonds - Nico Kruger
Tel: +27 11 334 8886
Taylor Rafferty - Rob Newman
Tel: +44 207 614 2900
About Namakwa:
Namakwa Diamonds is a unique diamond resource group. Its strategy of backward
integration from its 30 years of beneficiation experience into mining has
created a unique public investment proposition. Namakwa Diamonds has a
diversified portfolio of diamond projects, which include five distinct diamond
resource target areas. These are located in four African countries, namely:
South Africa; the Democratic Republic of Congo; Namibia and Angola. Namakwa's
projects are located within historically prospective geological environments.
Alluvial diamond deposits, including marine, constitute the primary focus of the
company, whilst kimberlite opportunities will be considered if they represent an
advanced stage of development, consistent with Namakwa's philosophy of a short
resource delivery time as provided by its alluvial diamond mines.
This information is provided by RNS
The company news service from the London Stock Exchange
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