VANCOUVER, June 17 /CNW/ - Rockwell Diamonds Inc. ("Rockwell" or the
"Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) announces the results of voting
from a Special Shareholders Meeting held today and called by Pala Investments
Holdings Ltd (the "Dissident").
Approximately 74% of the Company's issued and outstanding shares were
voted. A tabulation of the final results with actual votes cast is available
on the Company's profile at www.sedar.com.
Over fifty-seven percent (57.33%) of the votes were cast against the
removal of one or more of the current Board of Directors, so the current Board
is retained. Approximately sixty-two percent (62.07%) of the votes cast were
in favour of continuing the Shareholder Rights Plan and slightly over
fifty-seven percent (57.14%) voted to direct Rockwell to not reimburse the
Dissident of the meeting for its costs associated with the meeting.
On advice of counsel and because of its advisory nature, the Executive
Directors agreed to remove the Fair Rights Offering from this meeting agenda.
However, over fifty-seven percent (57.22%) did support the Fair Rights
Offering (meaning a rights offering which does not require compromise of the
Shareholders Rights Plan) proposal.
On behalf of the Executive Directors, David Copeland, Chairman commented
"The Executive Directors are gratified by the voting support of Rockwell
shareholders but we also recognize there is work yet to be done. We are
committed to working to unite the Board in order to make management
enhancements, ensure operational efficiency, deliver timely financial
information, establish additional internal controls, and execute the rights
offering plan to fund the Company with minimum dilution. We will make all
necessary efforts to achieve these goals with our colleagues on the Rockwell
No regulatory authority has approved or disapproved the information
contained in this news release.
For further information:
For further information: on Rockwell Diamonds Inc., please visit the
Company's website at www.rockwelldiamonds.com or contact Investor Services at
(604) 684-6365 or within North America at 1-800-667-2114