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Pallinghurst Receives Additional Acceptances For Gemfields Shares (ALLISS)

LONDON (Alliance News) - Coloured gemstones supplier Gemfields PLC said on Monday that ...

Alliance News 17 July, 2017 | 5:44PM
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LONDON (Alliance News) - Coloured gemstones supplier Gemfields PLC said on Monday that Pallinghurst Resources Ltd has received valid acceptances in respect of 274.4 million shares in Gemfields, representing a 49.1% stake in the company.

Together with the 208.5 million shares already held by Pallinghurst, this represents 482.9 million shares, making up a 86.4% holding in Gemfields.

Valid acceptances for 200.0 million shares, representing 35.8% of Gemfields' share capital, have come from persons working with Pallinghurst, of which 154.8 million shares were subject to irrevocable undertakings procured by Pallinghurst.

The offer shall remain open to acceptances until August 1.

Shares in Gemfields PLC will be cancelled from trading on AIM on July 28, as the takeover offer by Pallinghurst Resources was declared wholly unconditional on June 26.

Shares in Gemfields closed down 0.4% at 28.50 pence on Monday.

By Dayo Laniyan;

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Gemfields PLC
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