Login ID:
Partner Login
Contact Us : 7066511911

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.

Shares suspended at 2 pence.

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

(END) Dow Jones Newswires

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

Copyright (c) 2017 Dow Jones & Company, Inc.
Top 5 Special Reports
Canada's 2020-21 Pea Production May Rise Rise Marginall...
USD/INR (Jan. 20) Testing Short-term Resistance near...
USD/INR (Jan. 20) Testing a Resistance Zone Near 71....
Urad Spot(Chennai INR): Bullish Breakout from a Base/ P...
Urad Spot(Burma USD): Appears Poised for More Strength/...