Dominion Diamond Corporation has been in the news with regards to the unsolicited offer it received from WashCorp recently; and its thinly veiled setting aside of the offer.

The Company has now announced the setting up of a Special Committee “to explore, review, and evaluate a range of potential strategic alternatives focused on maximising shareholder value”. Trudy Curran, Jim Gowans, David Smith and Josef Vejvoda have been appointed on the Special Committee, the Company said.

The brief for the Special Committee, working together with the Company’s management team and advisors, is to “consider alternatives that could include the sale of the company or other strategic transactions”.

“While the Board of Directors remains confident in the Company’s long-term strategic plan and the opportunity it provides to enhance value for all shareholders, we are open to exploring all strategic alternatives that are in the best interests of the Company and its stakeholders,” said James Gowans, Chairman of the Board of Dominion Diamond Corporation. “The Board is committed to maximising shareholder value through a fair and open process and we look forward to engaging constructively with all parties.”

The Company underlined that no timeframe has been set for this process;  nor have any strategic alternatives been outlined currently. Hence, Dominion pointed out “there can be no assurance that the exploration of strategic alternatives will result in any transaction or change in strategy”.

Meanwhile, media reports state that ALROSA has categorically denied any interested in purchasing Dominion Diamond Corporation.