Teeling to resign in reverse takeover

Dublin: John Teeling is to resign from his position as chairman of exploration company West African Diamonds (WAD) on Monday, following the conclusion of its reverse takeover by African company Stellar Diamonds – shareholder approval of which is expected the same day.

WAD de-merged from African Diamonds four years ago and is now merging with Stellar to form Stellar Diamonds, which will be overseen by a new board.