https://www.miningweekly.com

Gemfields applies for cancellation of Aim listing

30th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Gemfields has, at the request of Pallinghurst Resources, applied to the LSE for the cancellation of admission to trading its shares on Aim.

Pallinghurst, led by CEO Arne Frandsen, on Tuesday said its offer to acquire the remaining interest in Gemfields had been accepted by shareholders holding 75.18% of Gemfields’ shares. The deal was also approved by the majority of Pallinghurst’s shareholders.

Pallinghurst, which in May launched its takeover bid for Gemfields, has noted its plans to delist Gemfields from Aim.

The 20 business days' notice period for the cancellation has now started and trading will be cancelled without the requirement for a resolution of Gemfields shareholders' approving this cancellation.

“Cancellation will significantly reduce the liquidity and marketability of any Gemfields shares not acquired by Pallinghurst, and shareholders will no longer be able to effect transactions in Gemfields shares on Aim,” Gemfields said in a statement. 

Pallinghurst’s offer remains open to acceptances until July 18, after which time Gemfields shareholders will no longer be able to accept the offer.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.162 0.205s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: