West Perth-based Nare Diamonds Ltd and Continental Goldfields Ltd have received shareholder approval to change their names, the companies announced today.
West Perth-based Nare Diamonds Ltd and Continental Goldfields Ltd have received shareholder approval to change their names, the companies announced today.
Nare will now be known as Lonrho Mining Ltd, so named for its major shareholder, London-based Lonrho Plc, whichhas an extensive corporate presence and experience in Africa.
Continental Goldfields said a change of focus made the new name of Continental Capital more appropriate for the company.
The full text of a Nare announcement is pasted below, followed by that of Continental
Australian-based diamond exploration and production company, previously Nare Diamonds Limited, is pleased to advise that shareholders approved to change its name to Lonrho Mining Limited ("Lonrho Mining" or "the Company") at a shareholders meeting last Friday, 26 October 2007.
Lonrho Plc is the major shareholder of the Company and the proposed change of name to Lonrho Mining Limited will enable the Company to take advantage of and benefit from Lonrho Plc's heritage, its extensive corporate experience and presence in Africa.
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company is listed on the London AIM stock exchange (LONR).
Lonrho Plc is strategically focused on the development of business opportunities in infrastructure, transportation, support services and the natural resources sectors.
Lonrho Mining currently has interests in significant diamond exploration and production projects located in Angola and South Africa. The name change reflects a new strategy to selectively acquire exploration and producing mining assets across the African continent whilst adding significant value to its existing diamond assets through exploration success and trial mining activities.
Charles Mostert, Chief Executive Officer, commented:
"The name change to Lonrho Mining heralds a new and exciting growth phase in the development of the Company. We are now able to widen our scope and invest in a wider range of minerals. Besides the highly prospective Lulo diamond project in Angola, we are in the process of evaluating a number of other prospects and will keep shareholders informed of our progress".
The full text of the Continental announcement is pasted below
As approved at the general meeting of shareholders, the Company wishes to advise of their change of name to CONTINENTAL CAPITAL LIMITED.
With the Company's current focus on resource exploration, the Board believes that the new name more closely identifies with the interests of the Company.
Continental Capital will retain the Australian Securities Exchange (ASX) code "CNF".
