TORONTO, April 2 /CNW/ - Pala Investments Holdings Limited ("Pala")
announced today that it has entered into a binding agreement to acquire
ownership of 4,500,000 common shares of Rockwell Diamonds Inc. ("Rockwell"),
representing approximately 1.89% of the total number of common shares
currently issued and outstanding of Rockwell.
Pala's total ownership of securities of Rockwell on completion of the
acquisition is 47,466,900 common shares, representing approximately 19.94% of
the issued and outstanding common shares of Rockwell.
Pala is located at 12 Castle Street, St Helier, Jersey JE2 3RT. The
acquisition has been agreed and will occur privately at a price in cash per
common share of C$0.04. Pala has acquired these securities for investment
purposes. Pala may acquire or dispose of any of its shares in Rockwell as
market conditions warrant, but subject to applicable regulatory restrictions.
PIHL also announced on March 30, 2009 that it has requested that Rockwell call
a shareholder meeting.
Pala Investments Holdings Limited, based in Jersey, Channel Islands, is a
US$1.0 billion multi-strategy investment company with a particular focus on
mining and natural resource companies in both developed and emerging markets.
Pala Investments' exclusive investment advisor, Pala Investments AG, is a
Switzerland-based team with extensive experience within the mining and natural
resource sectors. Pala Investments seeks to assist companies in which it has
long-term shareholdings by providing strategic advice and innovative financing
solutions. For more information, visit www.pala.com.
Certain statements in the press release are forward-looking statements
and are prospective in nature, including statements with respect to Pala's
future intentions regarding the common shares of Rockwell that it owns.
Forward-looking statements are not based on historical facts, but rather on
current expectations and projections about future events, and are therefore
subject to risks and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the forward-looking
statements. These statements generally can be identified by the use of
forward-looking words such as "may", "should", "will", "could", "intend",
"estimate", "plan", "anticipate", "expect", "believe" or "continue", or the
negative thereof or similar variations. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations. Such forward-looking statements should therefore be construed in
light of such factors, and Pala is not under any obligation, and expressly
disclaims any intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events or
For further information:
For further information: Colin Murray, Pala Investments AG,