BRIEF-Rockwell Diamonds says completed formulation of turnaround plan

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BRIEF-Rockwell Diamonds says completed formulation of turnaround plan

posted on Nov 24, 2016 11:15PM

2016-11-24 05:09:00 PM ET (Reuters)

Nov 24 (Reuters) - Rockwell Diamonds Inc

* Confirmed it completed formulation of turnaround plan, unanimously approved during a special board meeting

* Plan includes reducing overall operations footprint by disposing of any assets that do not fit business model

* Commitments for $8 million have been secured, by means of additional funding on similar terms to current loans

* Rockwell provides further interim update Source text for Eikon: Further company coverage:

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