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witten - Tue, 03 Jan 06 :

It seems to me that too many people are forgetting that De Beers have the right to buy any shares in AFD which directors or previous directors hold.(Recently they bought up some shares from Mark Scowcroft). I do not know what percentage of AFD is now held by directors and ex-directors but I assume that it would be near enough impossible for anyone else apart from De Beers to buy AFD without the absolute agreement of De Beers. I would not be surprised if all these rumours are attempts to ramp the shares because IMO they will need to raise money shortly. At the end of June 2004, there was about £0.6m in the account with a cash burn of about £1.2m for the year ended. Quite rightly Teeling would not want to have to raise money at these levels.


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