Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

BRIEF-Rockwell Diamonds provides fourth update regarding three subsidiaries in Kimberley, South Africa

Published 2017-05-19, 02:41 p/m
© Reuters.  BRIEF-Rockwell Diamonds provides fourth update regarding three subsidiaries in Kimberley, South Africa
RDIh
-

May 19 (Reuters) - Rockwell Diamonds Inc RDI.TO :

* Rockwell provides fourth update regarding three subsidiaries in Kimberley, South Africa

* Says subsidiaries again attended in court in Kimberley, South Africa on May 18, 2017

* Effect of order is that joint business rescue practitioners will oversee affairs of subsidiaries and prepare business rescue plan

* Immediate effect of order is that all legal proceedings against subsidiaries are stayed, and liquidation process is suspended

* "A strategic review of all assets and opportunities will be conducted to assess possibilities of realizing short term value"

* Says will also pursue its criminal and civil claims against CML and certain individuals involved in business of CML

* Business practitioners Peter Van Den Steen and Trevor Murgatroyd of Metis Strategic Advisors appointed by court on interim basis

* Peter van den steen, Trevor Murgatroyd will be in contact with creditors of subsidiaries in next week to make necessary arrangements Source text for Eikon: ID:nCNWMn18Ha Further company coverage: RDI.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.