CAPE TOWN, South Africa, Nov. 5 /CNW/ - Diamond Fields International Ltd.
(DFI:TSX) ("DFI" or the "Company") announces that at its 2007 Annual and
Extraordinary General Meeting scheduled for December 3, 2007 (the "Meeting"),
shareholders will vote on an ordinary resolution to approve a consolidation of
the Company's common shares on the basis of one (1) post-consolidation share
for every five (5) pre-consolidation shares (the "Consolidation"). If the
resolution is approved by a majority of shareholders at the Meeting, the
directors of the Company will have the authority to implement the
Consolidation at any time prior to September 30, 2008, subject to completion
of necessary filings with the Toronto Stock Exchange.
The Company currently has 234,506,715 issued and outstanding common
shares. After giving effect to the proposed Consolidation, the Company's
outstanding shares would be reduced by a factor of five to approximately
46.9 million shares. Outstanding stock options and warrants would similarly be
adjusted by the Consolidation ratio.
Details of the Consolidation are contained in the Company's information
circular dated October 18, 2007 which was been mailed to shareholders on
November 5, 2007, and has been filed on the SEDAR website (www.sedar.com).
DATED November 5, 2007.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and CEO
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in the Company's periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Diamond Fields does not assume the obligation to update any forward-looking
statement other than in accordance with applicable law.
For further information:
For further information: Roger Daniel at +27 21 425 1990, Website: