OZ Management, LLC

April 03, 2006 17:14 ET

OZ Management, LLC Announces Acquisition of Common Shares of SouthernEra Diamonds Inc.

TORONTO, ONTARIO--(CCNMatthews - April 3, 2006) - OZ Management, LLC ("OZ"), 9 West 57th Street, 39th Floor, New York, NY 10019, on behalf of OZ Master Fund, Ltd., OZ Europe Master Fund, Ltd., OZ Global Special Investments Master Fund, L.P., Fleet Maritime, Inc. and Topanga XI, Inc. announces that it has agreed to acquire in the aggregate 23,250,000 common shares of SouthernEra Diamonds Inc. (the "Corporation") which, following the issuance thereof, will represent 14.59% of the outstanding common shares of the Corporation. The shares were purchased pursuant to a private placement of shares by the Corporation.

OZ has acquired the shares for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over shares of the Corporation through market transactions, private agreements, treasury issuances, exercise of options, convertible securities or otherwise.

The shares were acquired at price of GBP 21.2 pence per common share pursuant to a placement agreement entered into with Canaccord Adams Limited, acting as placement agent for the Corporation, on March 31, 2006.

A copy of the early warning report required to be filed under applicable Canadian securities legislation may be obtained by contacting Toyanna Mayo at OZ, telephone (212) 790-0165.

Contact Information

  • OZ Management, LLC
    Toyanna Mayo
    (212) 790-0165