The TSX to Rockwell reported that the Exchange will consider delisting at the end of the final hearing of the liquidation of its subsidiaries, which is scheduled for April 12th.
"The Company believes that it is reasonable to suspend trading its shares in the JSE as long as the TSX does not consider the possibility of delisting" - said the representative of Rockwell.
JSE voluntarily agreed to suspend trading in shares of the company on the grounds that this suspension will be canceled after the confirmation of TSX similar solutions.
The judge in Kimberley, South Africa, recently issued an interim order on liquidation of three subsidiaries of Rockwell, namely Rockwell Resources RSA, HC van Wyk Diamonds and Saxendrift Mine Limited.
The Rockwell said that the prosecution has been initiated by C-Rock Mining, the former contractor Rockwell, who has filed an application for the liquidation of the three subsidiaries miners.
Allegedly, C-Rock relied on the alleged agreement on the service level agreement for the extraction of the contract, which has been detected within the legal process and was signed with the C-Rock in extremely dubious circumstances, as well as the obligation of Rockwell reimburse certain tax penalties and accrued interest thereon.
C-Rock also cited as an argument Rockwell obligation to pay certain debts Saxendrift and offset the cost of construction of a processing plant at Vouterspen (Wouterspan), as well as a large number of disputed invoices arising from the alleged informal agreements with some of the former leaders of the company.
Three subsidiaries of Rockwell challenged both the amount of compensation in the case, and the very essence of C-Rock claims.
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President of the WFDB (World Federation of Diamond Bourses, WFDB ) Ernest Blom (Ernest Blom) called on the countries of southern Africa to increase the supply of diamond cutting and polishing businesses, if they want their plants for the production of diamonds were resistant.
At Diamond Conference in Windhoek, Namibia, Blom said that stable cutting and polishing segments in Israel, India and Belgium receive state support.
Meanwhile, the publication of The Namibian head leads WFDB word that after the adoption of the law to increase the added value of diamonds in South Africa, the number of workers in the diamond cutting sector of the country has decreased from 4,500 to 300.
In this regard, Blom believes that Governments should fight corruption and bureaucratic procedures, to supply enough diamond cutters and cooperate with diamond manufacturers themselves to the capacity added value of the program to work effectively.
Meanwhile, Chaim Even Zohar (Chaim Even Zohar), who coordinated the discussion at the conference, said that synthetic diamonds are part of the diamond supply chain.
"Retailers try to make a profit if they could get more revenue from the sale of diamonds, created in the laboratory, they will take advantage of this opportunity." - he said.
Zohar added that the sector of synthetic diamonds "feels good."
Meanwhile, he also mentioned the problem of mixing of synthetic diamonds with lots of natural stone.
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