For filings with the FSA include the annex                                                         
                                                                                                       
    For filings with issuer exclude the annex                                                          
                                                                                                       
    TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                                    
                                                                                                       
    1. Identity of the issuer or the underlying issuer                             Paragon Diamonds Ltd
    of existing shares to which voting rights are                                                      
    attached: ii                                                                                       
                                                                                                       
    2 Reason for the notification (please tick the appropriate box or boxes):                          
                                                                                                       
    An acquisition or disposal of voting rights                                                 YES    
                                                                                                       
    An acquisition or disposal of qualifying financial instruments which may result              NO    
    in the acquisition of shares already issued to which voting rights are attached                    
                                                                                                       
    An acquisition or disposal of instruments with similar economic effect to                    NO    
    qualifying financial instruments                                                                   
                                                                                                       
    An event changing the breakdown of voting rights                                             NO    
                                                                                                       
    Other (please                                                                                      
    specify):                                                                                          
                                                                                                       
    3. Full name of person(s) subject to the       Grandinex International Corp                        
    notification obligation: iii                                                                       
                                                                                                       
    4. Full name of shareholder(s)                                                                     
     (if different from 3.):iv                                                                         
                                                                                                       
    5. Date of the transaction and date on         14/07/2015                                          
    which the threshold is crossed or                                                                  
    reached: v                                                                                         
                                                                                                       
    6. Date on which issuer notified:              14/07/2015                                          
                                                                                                       
    7. Threshold(s) that is/are crossed or         10%,9%,8%,7%,6%,5%,4%,<3%                           
    reached: vi, vii                                                                                   
                                                                                                       


     

    8. Notified details:                                                                                   
                                                                                                           
    A: Voting rights attached to shares viii, ix                                                           
                                                                                                           
    Class/type of       Situation previous         Resulting situation after the triggering transaction    
    shares              to the triggering                                                                  
                        transaction                                                                        
    if possible using                                                                                      
    the ISIN CODE       Number        Number       Number    Number of voting      % of  voting rights x   
                        of            of           of shares rights                                        
                        Shares        Voting                                                               
                                      Rights       Direct    Direct xi    Indirect Direct       Indirect   
                                                                          xii                              
                                                                                                           
    Ordinary 1 -        30,357,894    30,357,894   0         0                     0.00%                   
                                                                                                           
    GG00B6684H44                                                                                           
                                                                                                           
    B: Qualifying Financial Instruments                                                                    
                                                                                                           
    Resulting situation after the triggering transaction                                                   
                                                                                                           
    Type of financial        Expiration   Exercise/              Number of voting        % of voting       
    instrument               date xiii    Conversion Period xiv  rights that may be      rights            
                                                                 acquired if the                           
                                                                 instrument is                             
                                                                 exercised/ converted.                     
                                                                                                           
    C: Financial Instruments with similar economic effect to Qualifying Financial                          
    Instruments xv, xvi                                                                                    
                                                                                                           
    Resulting situation after the triggering transaction                                                   
                                                                                                           
    Type of financial Exercise     Expiration   Exercise/    Number of voting rights  % of voting rights   
    instrument        price        date xvii    Conversion   instrument refers to     xix, xx              
                                                period xviii                                               
                                                                                                           
                                                                                      Nominal      Delta   
                                                                                                           
    Total (A+B+C)                                                                                          
                                                                                                           
    Number of voting rights                             Percentage of voting rights                        
                                                                                                           
    0                                                   0.00%                                              
                                                                                                           


     

    9. Chain of controlled undertakings through which the voting rights and/or the              
    financial instruments are effectively held, if applicable: xxi                              
                                                                                                
    Proxy Voting:                                                                               
                                                                                                
    10. Name of the proxy holder:                                                               
                                                                                                
    11. Number of voting rights proxy holder will cease                                         
    to hold:                                                                                    
                                                                                                
    12. Date on which proxy holder will cease to hold                                           
    voting rights:                                                                              
                                                                                                
                                                                                                
    13. Additional information:                                                                 
                                                                                                
    14. Contact name:                            Frank Scolaro                                  
                                                                                                
    15. Contact telephone number:                0207 0991940