Shareholder rights plan adopted
The company adopted a shareholder rights plan on February 10, 1995, issuing one right per common share and convertible security to guard against unfair takeover bids.
Bulk sampling program to begin in Namibian and South African waters
ND Charters, a Namibian Minerals subsidiary, has chartered the MV Sprut to begin a 180 day bulk sampling program over marine diamond concessions in Namibian and South African waters.
Board and management appointments
Namco UK appointed Andrew Buxton to its board and strategy panel. Charles Hayes was named operations manager.
Dual listing on Namibian exchange completed
Namco has completed its dual listing on the Namibian Stock Exchange, with subscribed shares now called for trading subject to a six-month hold.
South African progress report
Namco reports diamond recovery from its South African concession, a new Namibian marine grant, a Boskalis bulk-sampling contract and a R22.5 million equity raise.
Exclusive prospecting license granted in Namibia
Namco has been granted an exclusive prospecting license over 980 square km of marine area off Namibia's coast near Hottentots Bay and Luderitz.
3,250,000 share issue prospectus
The company will register a prospectus with the Namibian Stock Exchange on August 18 1994 for a dual listing and share issue raising N$30 million.
Leave to appeal granted
Namco was granted leave to appeal to the appellate division after a Cape Town court found it had a reasonable prospect of success in its case against Benco and John Wilson.
Dual listing on Namibian stock exchange
The company received approval from the Namibian Stock Exchange and the Bank of Namibia for a dual listing, granted on an exceptional case basis.
Benco judgement on appeal
Namco will seek leave to appeal after a court upheld Benguela Concessions' (Benco) defence that certain terms of their July 1992 joint venture agreement were void for vagueness.