10 Dec 2022
DiamondWorld Directory
Home |
Gemfields to de-list, Game changer or Game Over?
Following the request from Pallinghurst, Gemfields’ AIM shares will be cancelled on 28th July.
By: Diamond World News Service
Jun 30 2017 5:50PM
Reference: 15331  


Gemfields has reportedly applied to London Stock Exchange for the cancellation of admission to trading on AIM. The said cancellation is to take effect on 28th July 2017. On 26th June 2017, Pallinghurst announced that it has received 96 per cent shareholder support for Gemfields acquisition – making its offer for Gemfields wholly unconditional.  

Gemfields said that cancellation will significantly reduce the liquidity and marketability of any Gemfields shares not acquired by Pallinghurst and Gemfields shareholders will no longer be able to effect transactions in Gemfields shares on AIM.

Gemfields share fell from 42 in June 2008 to its lowest to 2.75 in April 2009. In July, 2009, it took over Kagem Mine to dig Zambian Emeralds and it took 3 years to bounce back to 42. Company has organized 22 auctions and generated revenue of around US$426M till date. It touched its lifetime high of 68 in 2015 and now trading less than half at 32.5.

It was 2016 only, when it reported half yearly revenue (July 16 to Dec 16) down to $51m from $91 a year earlier and blamed it to Indian Demonetization. A thorough look at balance sheet shows a debt of $58m as of Dec 16. Company could have been suffering from cash deficit, as its monthly expense was at $10m amount to approx $60m by Dec 2016 and if put against sales of $51m and debt of $58m, and only $12m cash in book, any layman would have called it bankrupt or on the verge of.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32062
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 9577
GJEPC Chairman Interview
Views: 28162
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39417
Promo for IJ Awards 2012 at NDTV Profit
Views: 57102
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 68602
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21912
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 50965
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53162
Member of:
Supporter of: