- Diamond Circle Capital's board has instructed its advisers to prepare the necessary documentation to liquidate the company.

It said that following the acquisition by Mr Chatila of 62.29% of the voting of the company in June, shareholders decided at an extraordinary general meeting held on 12 July that "the company will now be managed with a view to realising its existing portfolio of diamonds in an orderly and timely manner and returning the net proceeds of sale to shareholders at such times and in such manner as the board may in its absolute discretion determine".

It adds: "In accordance with this revised investment objective and policy, the entire collection of diamonds (11 stones) held by the Company has now been realised. Net aggregate proceeds after all selling commission and costs amount to $36.4m, compared to a carrying value of $44.0m."

At 9:59am: [LON:DIAM] share price was -0p at 0.1p

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