Further to the announcement of 16 November 2016, DiamondCorp announced that the board of the company's operating subsidiary, Lace Diamond Mines (Pty) Ltd (LDM), has resolved to appoint Daniel Terblanche of Deloitte & Touche as the business rescue practitioner in accordance with the provisions of section 129 of the Companies Act, 71 of 2008.

A board resolution of LDM to this effect has been filed, stamped and accepted by the Companies and Intellectual Property Commission.