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Diamondcorp Appoints Joint Business Rescue Practitioner

3 Apr 2017 9:21 am

LONDON-- Southern African diamond mining company DiamondCorp PLC (DCP.LN) Monday said it has appointed Lebogang Mpakati of Independent Advisory Pty Ltd as a joint business rescue practitioner and that it will likely go into administration if it does not exit the process successfully.

Diamondcorp said discussions between its current business rescue practitioner and the Association of Mining & Construction Union have failed to result in an agreement with the consequence that all employees will be retrenched.

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-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

April 03, 2017 05:21 ET (09:21 GMT)

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