Gem Diamonds Australia takeover bid for Kimberley closes

Gem Diamonds has acquired 95.96 percent of relevant interest in Kimberley Diamonds. The company has commenced the compulsory acquisition of the remaining Kimberley shares and dispatched compulsory acqisition notices to the remaining Kimberley shareholders on 10 December 2007.

Kimberley’s shares were suspended from quotation on the ASX at the close of business in Australia on 17 December 2007 and theiradmission to trading on AIM will be cancelled on 21 December 2007.

Following the completion of the acquisition of Kimberley, Gem Diamonds now controls four producing assets; the Letsěng Mine in Lesotho, the Cempaka mine in Indonesia, the Mbelenge mine in the DRC and now the Ellendale Mine in Western Australia, renowned for its production of fancy yellow diamonds.

Gem Diamonds is a diamond mining company with a balanced portfolio of a producing kimberlite mine, two producing alluvial mines, development projects and long term prospects. Established in July 2005, Gem Diamonds is pursuing an accelerated growth strategy and aims to become one of the world’s leading diamond companies.

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