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RAPAPORT... DiamondCorp plc raised $8.2 million (GBP 5.27 million) through an open offer and a placement of shares that began on June 17. Certain company directors subscribed in the offer and details of their updated shareholdings will be announced in due course. DiamondCorp anticipates the admission of 20,894,263 new ordinary shares from the placement will become effective on July 7, after which the company will have 376,096,741 ordinary shares in issue, all of which have voting rights. Euan Worthington, DiamondCorp's chairman, said, "The board is very pleased at the high level of over-subscription for the open offer and that the majority of shareholders have been able to participate on the same terms as the recent placing to institutions. We thank shareholders for their continuing support and look forward to an exciting future."
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