TIDMSTEL TIDMTTM

RNS Number : 2501J

Stellar Diamonds PLC

28 March 2018

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR AUSTRALIA, OR IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

28 March 2018

Newfield Resources Limited ("NWF")

Irrevocable Undertakings

Pursuant to Rule 2.10 of the Code, the Boards of Stellar and NWF announce that on 27 March 2018 NWF has obtained further irrevocable undertakings ("Irrevocable Undertakings") to vote in favour of or accept an offer ("Offer") to be made by NWF for Stellar Diamonds plc ("Stellar") substantially on the terms set out in the firm offer announcement dated 12 March 2018 from the following Stellar Shareholders:

 
                                         Number of      Percentage 
                                    Stellar Shares      of Stellar 
                                        in respect    issued share 
                              of which undertaking         capital 
                                          is given 
 
 Botswana Diamonds Plc                      20,000           0.03% 
 James Finn                                157,031           0.25% 
  Forest Nominees Limited                  901,205           1.45% 
   on behalf of Lipari 
   Holdings Limited 
 
 Total                                   1,078,236           1.74%

The Irrevocable Undertakings will cease to be binding if, among other things:

   i.          Stellar's Board does not recommend the Offer;

iii. the relevant offer or scheme documentation is not posted to shareholders of Stellar within the permitted period under the Code or as otherwise agreed with the Panel;

iv. the Offer (or scheme of arrangement as applicable) does not become effective, is withdrawn or lapses in accordance with its terms;

v. the Directors of Stellar withdraw their recommendation in support of the Offer made by NWF.

The Irrevocable Undertakings above remain binding in the event of a higher, or any other, bid or offer for Stellar subject to the Board of Stellar not withdrawing their recommendation.

NWF has, in total, received irrevocable undertakings to vote in favour of the Scheme in respect of 31,434,759 Stellar Shares representing, in aggregate, approximately 50.69 per cent. of the issued ordinary share capital of Stellar.

Enquires:

 
 Stellar Diamonds 
 
 Karl Smithson, CEO              Tel: +44 (0) 20 7010 
                                  7686 
 
 Cairn Financial Advisers 
  LLP (Nominated Adviser and 
  Rule 3 Adviser to Stellar) 
 
 Sandy Jamieson, Liam Murray     Tel: +44 (0) 20 7213 
                                  0880 
 
 Newfield Resources Ltd 
 
 Anthony Ho                      Tel: +61 (08) 6389 
                                  2688 
 
 OBH Partners (Advisers to 
  NWF) 
 
 Orlaith O'Brien, Edel Conway,   Tel: +353 1 77 55 
  Antony Legge                    600

Cairn Financial Advisers LLP, which is authorised and regulated by the Financial Conduct Authority, is acting for the Company as financial adviser in relation to the possible offer for the Company and is not acting for any other person in relation to such possible offer for the Company. Cairn Financial Advisers LLP will not be responsible to anyone other than Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any possible offer for the Company or arrangement referred to herein.

Important notice

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. This announcement does not constitute a prospectus or a prospectus equivalent document. The shareholders of Stellar and NWF are advised to read carefully the formal documentation in relation to the Offer once it has been despatched.

Overseas jurisdictions

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe any applicable requirements. This announcement has been prepared for the purposes of complying with English law and the Code and the information disclosed in this announcement may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1993, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

Publication on Website

Copies of the Irrevocable Undertakings and this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on Stellar's website at www.stellar-diamonds.com NWF's website and on NWF's website at www.newfieldresources.com.au in accordance with Rule 26.1 of the Code by no later than 12 noon (London time) on the day following publication of this notification. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 28, 2018 06:45 ET (10:45 GMT)

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