Burgundy Diamond Mines Acknowledges ASX Rule Breach
Key points
- Burgundy Diamond Mines acknowledged a breach of ASX Listing Rule 10.1
- Related party transactions exceeded required shareholder approval
- Remedial actions completed, including shareholder ratification
- Measures implemented to prevent future breaches
Full summary
Burgundy Diamond Mines Limited (ASX: BDM) has acknowledged a breach of ASX Listing Rule 10.1 concerning related party dealings with Choron BV. The Company entered into three Short-Term Advance Diamond Purchase Agreements (STADPAs) between May and July 2025, which required shareholder approval but did not obtain it. The Board has recognized the breach and has taken remedial actions, including obtaining ratification from non-associated shareholders. To prevent recurrence, the Company has appointed a dedicated Joint Company Secretary, established a related party register, and engaged external advisers to review its Corporate Governance Policy.
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