I note that DRN rose 0.6c today after an ann. that Mrs Pnina Feldman aka Diamond Rose increased her holding in DRN by 7,915,844 shares and 22,079,688 options through her private company, for the sum of 4.3 cents, as part of a conversion note process after which she will LEND $2,785,088 to DRN.
Interesting, since all diamond exploration is being fully funded by BHP, why would DRN need to borrow money?
This question was raised by someone else last time a similar "loan" was made.The timing could mean, however, that something is going to happen at last in the near future.
Company Announcement
Change of Director`s Interest Notice
DIAMOND ROSE NL 2002-06-21 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
CHANGE OF DIRECTOR'S INTEREST NOTICE
Name of Company Diamond Rose NL
ABN 30 075 860 472
We (the entity) give the ASX the following information under listing
rule 3.19A.2 and as agent for the director for the purposes of section
205G of the Corporations Act.
Name of Director Pnina Feldman
Date of last notice 08/06/2001
Part 1 - Change of director's relevant interests in securities
Direct or indirect interest Indirect
Nature of indirect interest
(including registered holder) Vageta Pty Ltd which holds a
relevant interest in the
following securities of the
company or related bodies
corporate:
Vageta Pty Ltd is a private
company controlled by Mrs
Feldman.
Date of change 20/06/2002
No. of securities held prior
to change 71,250,348 shares
37,512,686 options
Class Fully paid
Number Acquired 7,915,844 shares
22,079,688 options
Number disposed 2,300,000 options (expired)
Value/consideration 4.3 cents
No. of securities held after
change 79,166,192 shares
57,292,374 options
Nature of change Conversion of Convertible
Notes (6,539,844 shares)
On market trade (1,376,000
shares)
Part 2 - Change of director's relevant interests in contracts
Detail of contract Loan Agreement secured by a
Convertible Note
Nature of interest After conversion (as above)
Vageta Pty Ltd may lend up to
$2,785,086 to the Company
Name of registered holder
(if issued securities) -
Date of change -
No. and class of securities to which
interest related prior to change -
Interest Acquired -
Interest disposed -
Value/consideration -
Interest after change -
We will soon know.
Cheers
GZ
DRN
diamond rose nl