Paragon Diamonds faces delisting as funding talks fail

Paragon Diamonds, which have been holding talks to fund its operations in Lesotho, has not succeeded in its aim and the company is likely to be delisted by December 29. As StockMarketWire.com reported, “The company said this means its shares will be delisted at 7am on Dec. 29.” 

However, Paragon Diamonds has assured in a statement that the value of investors, share holdings will not be materially affected by the event of a delisting. The Company retains the same prospects and remain highly confident that the funding discussion will be concluded successfully in the near future and will enhance the existing value of the Company when finalised.” 

In the same vein the statement from Paragon says, that the Board would “continue to seek completion of the required funding as a matter of urgency” and would keep the Company’s shareholders informed through its website. The Company will continue to act in the best interests of all shareholders and, assuming the required funding is obtained, work towards a new listing on AIM or the main market as soon as practicable in 2016.”