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RAPAPORT... Paragon Diamonds Limited, in connection with its previously announced subscription offering, has issued, conditional on admission to London's alternative investment market (AIM), a total of 5.3 million new ordinary shares. Paragon Diamonds issued 2.8 million new ordinary shares in relation to the second tranche of the subscription and another 2.5 million new ordinary shares were issued to Lanstead Capital L.P. in connection with the value payment for entering into an equity swap agreement.
Paragon Diamonds expects the admission of the new shares to become effective, and dealings are expected to commence on the AIM, on July 23. Following the issue of the new shares, Paragon Diamonds will have 228,595,917 ordinary shares in issue.
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