Rockwell Board Shake Up

“Volatile market” causes Rockwell Diamonds Inc. to make changes to its board of directors. The changes results in a more independent and balanced board, the miner said Tuesday.

The changes have been implemented following a recent board review of the company's operations in light of volatile capital market conditions and investor perceptions of listed diamond entities. The changes also reflect alignment with Rockwell's black economic empowerment partner and its largest shareholder, Pala Investments.

Specifically, Pat Bartlett, Rene G. Carrier, Scott Cousens Douglas Silver have resigned from the Board, effective November 21.

Sandile Zungu, Terry Janes, Bill Fisher and Greg Radke have joined the board as independent directors.

Zungu is a founding member of Zungu Investments, the majority shareholder of Rockwell's empowerment partner Africa Vanguard Resources. Janes is former manager of BHP Billiton's diamond marketing operations in Antwerp.

David Copeland, Dr Mark Bristow and Dr John Bristow will continue to serve as directors.

President and CEO John Bristow said, "These changes create a strong balance of independence, as well as operational, diamond market, and corporate experience, on the Board, which will benefit the Company in the currently harsh global financial environment.”