Diamond Fields International Ltd. has provided the following update. All matters set before shareholders at its annual general meeting (AGM) held today were approved, including the election of two new board members: Francois Colette and Bertrand Boulle.
Mr. Boulle was born in Mauritius, educated in South Africa and the United Kingdom, and worked for De Beers and independent diamond producers in the Democratic Republic of the Congo (Kinshasa, Tshikapa and Luebo), Angola (Luanda, Lucapa, Andrada and Cuango), Sierra Leone (Kono and Freetown) and Guinea Conakry (Gbenko). Mr. Boulle has over 20 years of experience as a senior executive in global financial markets within the EU and Mauritius.
Mr. Colette has more than 25 years of experience in mining in Africa, having worked for Gecamines and AMFI-Adastra. While at AMFI-Adastra, he was in charge of its copper, cobalt and zinc projects, including Kolwezi tailings. Between 1990 and 1996, Mr. Colette worked as a consultant mainly to Sofremines (France) in relation to a number of copper, cobalt, zinc and gold projects in Romania, Russia, Kazakhstan, Zaire and Cuba.
The company wishes to thank Ian Ransome, who did not stand for re-election at the AGM, for his years of services to Diamond Fields International since 2007 in various positions, ranging from chief operating officer (from October, 2007, to October, 2014) to president and chief executive officer (from July, 2010, to October, 2014) and his directorship since 2010.
For clarification, the company’s officers and directors now comprise the following.
Sybrand van der Spuy — chief executive officer, president and director;
Earl Young — chief financial officer, secretary and director;Al Gourley — non-executive chairman and director;Norman Baker — director;Francoise Colette — director;Bertrand Boulle — director.
- Sybrand van der Spuy — chief executive officer, president and director;
- Earl Young — chief financial officer, secretary and director;
- Al Gourley — non-executive chairman and director;
- Norman Baker — director;
- Francoise Colette — director;
- Bertrand Boulle — director.
Also, following the one-for-five consolidation that was effected on Sept. 22, 2016, the company has increased its fixed less-than-10-per-cent stock option plan from 1,528,380 preconsolidated shares to 4.7 million postconsolidated shares, which remains less than 10 per cent of the company’s current 47,344,996 issued and outstanding share capital. The amended plan is subject to receipt of acceptance from the TSX Venture Exchange.
The company has also granted stock options entitling eligible participants to purchase up to 2,962,800 common shares at an exercise price of 14.5 cents per share for a five-year term, expiring at close of business on Dec. 11, 2021. These options will vest as to one-third on the date of grant, one-third on the first anniversary from the date of grant and the final one-third on the second anniversary from the date of grant.
Following this stock option grant, a balance of 1,107,200 options remain available for future grants under the company’s fixed less-than-10-per-cent stock option plan.
