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Gemfields de-listed from AIM After Pallinghurst Takeover
Pallinghurst Resources has reportedly begun compulsorily purchases of the remaining shares in Gemfields.
By: Diamond World News Service
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Jul 29 2017 2:04PM
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Reference: 15426  

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Shares in Gemfields PLC were reportedly cancelled from trading on AIM on 28th July 2017, after Pallinghurst Resources Ltd commenced compulsorily purchases of the remaining shares in the company.

The reports further stated that earlier this month, Pallinghurst said it had received valid acceptances in respect of 92.38 per cent of Gemfields shares, and would commence compulsorily buying the remaining shares.

Pallinghurst first announced its intention to acquire Gemfields in May, says reports.

The reports stated that on 28th July 2017, Gemfields said it recommends shareholders who have not yet accepted the "unsolicited" offer "accept immediately so as to receive their new shares in Pallinghurst as consideration for their Gemfields shares at an earlier date than they otherwise would do as part of the compulsory acquisition procedure".

The offer remains open to acceptances until August 1.

Source: www.lse.co.uk

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