Rasmala provides Shari’a compliant financing facility to DiamondCorp plc
London-Dubai, 20 September 2016
DiamondCorp plc, a Southern Africa focused diamond mine development and exploration company, announced that it has entered into a Shari’a compliant secured convertible financing facility with Rasmala, the leading independent investment manager and shareholder in the company. The company and Rasmala have agreed to the drawdown by DiamondCorp of two tranches under the facility, for a total principal amount of £700,000. The first of the tranches in the amount of £400,000, is to be drawn down immediately. The second of the tranches, in the amount of £300,000, is anticipated to be drawn down in the near term. The facility is secured against up to 5,000 carats of diamonds currently held in inventory and/or to be produced from operations.
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