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September 01, 2015 4:27 AM ET

Metals and Mining

Company Overview of Koidu Holdings SA

Company Overview

Koidu Holdings SA operates as a commercial diamond mining company in Sierra Leone. It focuses on hard rock kimberlite operations. The company was founded in 2003 and is based in Freetown, Sierra Leone. Koidu Holdings SA operates as a subsidiary of BSG Resources Limited.

84 Wilkinson Road

Freetown,  

Sierra Leone

Founded in 2003

Phone:

232 78 874 912

Fax:

232 22 230 467

Key Executives for Koidu Holdings SA

Chief Executive Officer
Chief Communications Officer
Compensation as of Fiscal Year 2015.

Koidu Holdings SA Key Developments

Koidu Holdings SA Enters into the Fifth Amendment Agreement with Laurelton Diamonds, Inc

On April 30, 2015, Laurelton Diamonds Inc., entered into the fifth amendment agreement relating to USD 50 Million amortizing term loan facility agreement with Koidu Limited (the Borrower), Octea Limited, and BSG Resources Limited. The Borrower, BSG, and the Original Lender entered into the amortising term loan facility agreement on March 30, 2011 (as amended to the date hereof, the Loan"), pursuant to which the Original Lender loaned USD 50 million to the Borrower. The Borrower operates a kimberlite diamond mine in the Kono district of Sierra Leone from which the Original Lender acquires diamonds, and the Borrower is required under the terms of the Loan to apply the proceeds of the Loan to capital expenditures necessary to expand the Mine, among other purposes. Among other provisions, the Amendment provides that (i) the principal payment due to the Original Lender on March 30, 2015 will be deferred until a date to be specified by the Original Lender upon at least 30 days' written notice to the Borrower, (ii) Octea will accede to the Loan as an additional obligor thereunder, (iii) the interest rate per annum on the Loan will be the greater of (A) LIBOR plus 3.5% and (B) 6.75%, effective April 1, 2015, (iv) interest will accrue and be paid monthly, rather than semi-annually, including through the Deferral period and (v) the Borrower will make a one-time payment of $1,179,123.59 to the Original Lender on May 15, 2015, representing an additional amount of interest accruing at 2% per annum, in respect of the aggregate amount of payments deferred under the Loan. The Deferral is subject to the satisfaction by May 30, 2015 of certain customary conditions subsequent related to the accession of Octea to the Loan as an additional obligor, including the delivery of documentation evidencing Octea's approval thereof and legal opinions related thereto.

Laurelton Diamonds Inc. Enters into Fourth Amendment Agreement Relating to a $50 Million Amortising Term Loan Facility Agreement with Koidu Limited

On March 31, 2014, Laurelton Diamonds Inc. entered into the Fourth Amendment Agreement relating to a $50 Million Amortising Term Loan Facility Agreement with Koidu Limited and BSG Resources Limited. The Borrower, the Guarantor, and the Original Lender entered into the amortising term loan facility agreement on March 30, 2011, pursuant to which the Original Lender has loaned $50 million to the Borrower. The Borrower operates a kimberlite diamond mine in the Kono district of Sierra Leone from which the Original Lender acquires diamonds, and the Borrower is required under the terms of the Loan to apply the proceeds of the Loan to capital expenditures necessary to expand the Mine, among other purposes.

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