Print   

European Islamic Investment Bank plc

12 November 2008

EIIB announces increased private equity investment in DiamondCorp

Following its announcement on 10 November 2008 that it had acquired a 9.735% shareholding in DiamondCorp plc ('DiamondCorp'), European Islamic Investment Bank plc announces that it has acquired today a further 6,720,555 shares in DiamondCorp at 45p per share for a total consideration of approximately £3 million, bringing its total shareholding to approximately 26%. 

Ends

For further information:

EIIB plc                                                     Tel: +44 (0)20 7847 9900

Robin Henshall

Head of Private Equity & Corporate Advisory

Evolution Securities Limited                         Tel: +44 (0)20 7071 4300

Bobbie Hilliam

Fishburn Hedges                                         Tel: +44 (0)20 7839 4321

Michelle James/Riz Issa

Notes to editors:

About EIIB:

EIIB was incorporated in January 2005 and received its FSA authorisation in March 2006. It commenced business in April 2006 and completed its IPO and was admitted to London's AIM market in May 2006.

EIIB services a market for sharia'a compliant investment banking services in Europe, the Middle East and Asia. Sharia'a compliant banking is generally regarded as one of the fastest growing sectors in the financial services industry. 

Headquartered in London, EIIB is a fully Sharia'a compliant investment bank that provides products and services in the following areas:

- Private Equity and Corporate Advisory

- Treasury and Capital Markets 

- Asset Management

- Real Estate

- Sharia'a Advisory

The shareholders of EIIB include Gulf and European based individuals and institutions.

About DiamondCorp:

DiamondCorp is listed on the main board of the JSE Limited and the AIM Market of the London Stock Exchange. The Company is developing the Lace kimberlite mine in the Free State Province of South Africa.

Phase One of the Lace mine was commissioned a year ago, and recovers diamonds from tailings re-treatment. Phase Two involves re-opening the underground workings to access more than 38 million tonnes of kimberlite containing an estimated 14 million carats.

Phase Two, which is more than 12 months ahead of schedule, will see the commencement of kimberlite mining before the end of this year. At peak production, Lace is expected to produce more than 500,000 carats of gem diamonds per year.

ENDMSCBTBMTMMMBBRP