Sovereign Diamonds provides operations update

Since 15 November 2016

Sovereign Diamonds announced that the Company has taken the following actions around 15 November 2016:

1. Layoff of 14 workers and 2 staff members

2. The factory is operating for 4 working days instead of 6 working days.

3. There is a reduction in production and orders by almost 60% due to demonetization of Rs. 500/- and Rs. 1,000/- notes.

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