Paragon Diamonds

Paragon Diamonds Limited, the AIM quoted diamond development company in Lesotho, Africa, is pleased to provide an update on the composition of the Board of Meso Diamonds (Pty) Ltd ('Meso'), the Company's 80% owned Lesotho subsidiary. The Government of the Kingdom of Lesotho holds the remaining 20% interest in Meso, which was recently granted the Mi... ning Lease 009/2013 over the Lemphane Kimberlite Diamond Project ('Lemphane') where Stage 1 production of large high value stones is due to commence in the near term. In line with the terms of the Mining Lease, two Government nominees, Mr Mothabathe Hlalale and Mr Tšepang Mara, have been appointed to the Board of Meso as non-executive directors with immediate effect. Mr Mothabathe Hlalale (Mosotho), a graduate in law from the National University of Lesotho, previously served as a District Officer and as a Senior Legal Officer in the Government of the Kingdom of Lesotho. Most recently, he has been active as a businessman and entrepreneur in Lesotho, involved in property development, agribusiness and service delivery in utilities, especially electrification. Mr Tšepang Mara (Mosotho) is a professional in the fields of Law and Human Resources. He qualified from the Lesotho Institute of Public Administration & Management and currently serves as Public Prosecutor for the Lesotho Law Office. To date, Mr Mara has spent his career in public service, in the legal, human rights and human resources fields. In addition, Paragon has nominated and Meso has approved the appointment of two further non-executive directors to join the Board of Meso: Mr Philip Falzon Sant Manduca (British), who was recently appointed Executive Chairman of Paragon; and Mr Simon Retter (British), who is currently Finance Director of Paragon. Dr Stephen Grimmer (British), currently Managing Director of Paragon and Mr Sam Matekane, (Mosotho) currently Chairman of Matekane Mining and a 10% shareholder of Paragon, will both continue as Directors of Meso. Dr Grimmer will take up the role of executive ...Read More