BRAZILIAN DIAMONDS LIMITED
CANCELLATION OF ADMISSION TO AIM
BRAZILIAN DIAMONDS LIMITED (TSXV: BDY) ("Brazilian Diamonds" or "the
Company") announces that at its Annual and Special Meeting
("Meeting") to be held on August 31, 2009, the Company proposes to
seek shareholder approval for the cancellation of its admission to
trading on the Alternative Investment Market of the London Stock
Exchange ("AIM"). Assuming shareholder approval is received by a 75%
majority of the votes cast at the Meeting, it is proposed that the
cancellation would take effect from 7.00 a.m. (BST) on September 8,
2009 (the "Cancellation Date").
The proposal to cancel trading of the Company's shares on AIM is
being implemented in conjunction with other cost reduction measures
the Company has taken in response to the impact of recent volatility
in capital markets which has created difficulties for the junior
exploration sector generally in raising capital to fund mineral
exploration.
Cancellation of the AIM quotation will assist the Company to conserve
its limited financial resources by eliminating the duplication of
costs and management resources involved in maintaining the AIM
quotation as well as the Company's principal listing on the TSX
Venture Exchange (the "TSXV").
UK shareholders wishing to trade the Company's common shares after
the Cancellation Date will be able to do so through the TSXV.
Brazilian Diamonds does not expect the liquidity or marketability of
the Company's common shares to be materially affected by the
cancellation of the AIM listing.
Enquiries:
Kenneth P. Judge, Chairman
Tel: + 44 7733 001 002
Stephen Fabian, President & CEO
Tel: + 55 31 9186 4660
Jon Bey, Investor Relations
Tel: 1 866 689 2599
Email: jbey@braziliandiamonds.com
Hanson Westhouse Limited
Tim Feather / Matthew Johnson
Tel: + 44 113 246 2610
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