RAPAPORT... Pala Investments Holdings has called for a special and general shareholders' meeting of Rockwell Diamonds to be held on May 14, 2009. Pala Investments holds almost 20 percent of the common shares of Rockwell Diamonds. In a press statement released after the closing bell today, Pala Investments called the meeting in order "to pass [a] special resolution to remove each of the directors of the company," to elect new directors, and to amend and then terminate the company's shareholder rights plan agreement.

Pala Investments stated that it had delivered a meeting requisition to Rockwell Diamonds on March 23, 2009, "with respect to the above business. The directors of Rockwell failed to call the requisitioned meeting within 21 days of the requisition and Pala is therefore exercising its right to call the shareholder meeting."




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