ROCKWELL Diamonds said it was puzzled by a decision to return its subsidiaries to provisional liquidation as it had received an offer in excess of its liquidation value.
Business Rescue practitioner (BRP) Metis Strategic Advisors made a motion yesterday in the Kimberley High Court to place Rockwells subsidiaries into provisional liquidation. The BRP also informed the company today that it would place its key asset, the Wouterspan mine, on care and maintenance.
Commenting in an announcement to the Johannesburg Stock Exchange, the alluvial diamond producer said these actions had been taken despite the mine breaking even in August and notwithstanding the likelihood of a takeover offer which is to be finalised today. …
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