Rockwell Diamonds shareholders pass all resolutions at AGM
Changes to board of directors
VANCOUVER, Aug. 30, 2012 /CNW/ - Rockwell Diamonds Inc. ("Rockwell" or the "Company" (TSX: RD) (JSE: RDI) is pleased to announce that all the resolutions put forward in its management information circular were passed by the shareholders at the annual general meeting held in Vancouver today. The Company also announces two changes to its board of directors.
Annual General Meeting results:
The resolutions which were passed at the meeting were as follows:
Mark Bristow (Chairman), James Campbell (President and CEO), Dr. Willem
Jacobs, Richard Linnell, Johan van 't Hof and Stephen Dietrich were
re-elected as directors; and
- KPMG Inc. Chartered Accountants were appointed as Auditors of the Company for 2013.
Changes to the Board of Directors:
The board wishes to thank David Copeland and Sandile Zungu, who did not seek re-election to the board, for their contribution to the strategic direction of the Company during their tenure. In particular, the board is grateful to David Copeland for his role as founding Chairman of Rockwell and his immense contribution to the Company during the last six years.
The Nominating and Governance Committee of the board is in the process of overseeing the appointment of two additional directors. The objective is to appoint a representative of the new Black Economic Empowerment ("BEE") partner, once this transaction has been finalized, as well as an independent director with a strong industry background to contribute to the strategic direction of the Company. Further announcements in this regard will be made in due course.
About Rockwell Diamonds:
Rockwell is engaged in the business of operating and developing alluvial diamond deposits, with a goal to become a mid-tier diamond mining company. The Company has three existing operations, which it is progressively optimizing, two development projects and a pipeline of earlier stage properties with future development potential. Rockwell is also at an advanced stage of completing the acquisition of the Tirisano property.
Rockwell also evaluates merger and acquisition opportunities which have the potential to expand its mineral resources and production profile and would provide accretive value to the Company.
No regulatory authority has approved or disapproved the information contained in this news release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainties and costs related to exploration and development activities, such as those related to determining whether mineral resources exist on a property; uncertainties related to expected production rates, timing of production and cash and total costs of production; uncertainties related to the ability to obtain necessary licenses, permits, electricity, surface rights and title for development projects; operating and technical difficulties in connection with mining development activities; uncertainties related to the accuracy of our mineral resource estimates and our estimates of future production and future cash and total costs of production. In particular there can be no assurance that refinancing funds will be available to Rockwell on acceptable terms or any terms at all.
For further information on Rockwell, Investors should review Rockwell's annual Form 20-F filing with the United States Securities and Exchange Commission www.sec.com and the Company's home jurisdiction filings that are available at www.sedar.com.
SOURCE: Rockwell Diamonds Inc.For further information:
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