Wednesday 18 October 2017

Teeling's Botswana Diamonds raises €631,000 via share placing

John Teeling
John Teeling
Gavin McLoughlin

Gavin McLoughlin

The diamond exploration firm chaired by veteran investor John Teeling has conditionally raised £458,655 (€630,000) in a share placing.

Botswana Diamonds said the funds will be used to fund exploration activities in Botswana and provide extra working capital.

The company has also resolved £86,661 of unpaid directors' fees through placing further shares. Mr Teeling and people connected to him own 14.5pc of the enlarged share capital.

The fundraising is conditional on shareholder approval the company's AGM today.

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