Following a failed proxy struggle to remove the board of Rockwell Diamonds, Pala Investments Holdings has reportedly sold 6.5-million shares in the diamond mining company. Pala’s stake in Rockwell Diamonds has decreased from 19.9% to 17.2%.



Mining Weekly reports that Pala's representative on Rockwell Diamonds’ board, Gregory Radke, has resigned his directorship.



Last week, Rockwell Diamonds shareholders voted against Pala’s proposals that the company's board be replaced by a new one nominated by Pala.



In recent weeks the two companies have traded accusations with Pala stating that Rockwell Diamonds suffered from a “lack of leadership,” while Rockwell's CEO John Bristow, chairperson David Copeland and a third executive director, Mark Bristow, accused Pala of attempting to carry out a cashless takeover.