Conroy Diamonds & Gold PLC
08 July 2004
Conroy Dimaonds and Gold plc
Shareholders Approve De-merger of Diamond Interests Into New Company
At a series of meetings in Dublin this morning, shareholders and optionholders
of Conroy Diamonds and Gold P.l.c. (CDG) approved proposals to de-merge the
company's diamond interests in Finland into a separate entity, Karelian Diamond
Resources plc ('Karelian'). The de-merger will be implemented by way of a Scheme
of Arrangement under the terms of which CDG shareholders will receive one
ordinary fully-paid Karelian share for every six ordinary CDG shares held on the
record date.
High Court approval of the transaction will now be sought.
Karelian intends to apply for admission to AIM at the earliest opportunity.
Brokers to the company are Seymour Pierce.
Further Information:
Professor Richard Conroy
Chairman Conroy Diamonds and Gold Plc
Tel: 00-353-1-661-8958
Ron Marshman/John Greenhalgh
City of London PR Limited
Tel: 020-7628-5518
Visit website at: www.conroydiamondsandgold.com
This information is provided by RNS
The company news service from the London Stock Exchange