June 17, 2009 Rockwell Announces Results From Special General Meeting
June 17, 2009, Vancouver, B.C. -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) announces the results of voting from a Special Shareholders Meeting held today and called by Pala Investments Holdings Ltd (the "Dissident").
Approximately 74% of the Company's issued and outstanding shares were voted. A tabulation of the final results with actual votes cast is available on the Company's profile at www.sedar.com.
Over fifty-seven percent (57.33%) of the votes were cast against the removal of one or more of the current Board of Directors, so the current Board is retained. Approximately sixty-two percent (62.07%) of the votes cast were in favour of continuing the Shareholder Rights Plan and slightly over fifty-seven percent (57.14%) voted to direct Rockwell to not reimburse the Dissident of the meeting for its costs associated with the meeting.
On advice of counsel and because of its advisory nature, the Executive Directors agreed to remove the Fair Rights Offering from this meeting agenda. However, over fifty-seven percent (57.22%) did support the Fair Rights Offering (meaning a rights offering which does not require compromise of the Shareholders Rights Plan) proposal.
On behalf of the Executive Directors, David Copeland, Chairman commented "The Executive Directors are gratified by the voting support of Rockwell shareholders but we also recognize there is work yet to be done. We are committed to working to unite the Board in order to make management enhancements, ensure operational efficiency, deliver timely financial information, establish additional internal controls, and execute the rights offering plan to fund the Company with minimum dilution. We will make all necessary efforts to achieve these goals with our colleagues on the Rockwell Board."
For further details on Rockwell Diamonds Inc., please visit the Company's website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
David Copeland Chairman
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