DRN diamond rose nl

DRN - Could be movement at the stables...

  1. 29,310 Posts.
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    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


    HOMEX - Perth


    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

    Vageta Pty Ltd is a private
    company controlled by Mrs

    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

    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.

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Currently unlisted public company.

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