Australian diamond miner Lucapa Diamond Company announced the execution of a conditional binding Sale and Purchase Agreement with local Lesotho company, Lephema Executive Transport (Pty) Ltd, for its 70% stake in Mothae Diamonds (Pty) Ltd., which owns the Mothae diamond mine in Lesotho. The divestment is part of Lucapa’s strategic review to focus on core assets in Angola and Australia.<\/p>\n
The Agreement, a culmination of negotiations with several parties, includes a nominal purchase price of A$10,000 from Lephema and approximately A$1 million from Mothae for outstanding technical services payments. Lephema will also assume all current liabilities and guarantee obligations of Mothae. Lucapa will continue to provide technical services to Mothae for at least three months post-completion.<\/p>\n
The transaction, subject to regulatory approvals and other conditions, is expected to close by 30th<\/sup> September, 2024. Lucapa confirmed that shareholder approval is not required for the sale.<\/p>\n Nick Selby, Managing Director and CEO of Lucapa, said \u201cThe signing of this agreement is a key step towards Lucapa streamlining its portfolio and executing the new strategy which will focus on assets in Australia and Angola.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Australian diamond miner Lucapa Diamond Company announced the execution of a conditional binding Sale and Purchase Agreement with local Lesotho company, Lephema Executive Transport (Pty) Ltd, for its 70% stake in Mothae Diamonds (Pty) Ltd., which owns the Mothae diamond mine in Lesotho. The divestment is part of Lucapa’s strategic review to focus on core…<\/p>\n","protected":false},"author":1,"featured_media":26696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-26695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n