Pallinghurst receives 96% shareholder support for Gemfields acquisition – making its offer for Gemfields wholly unconditional
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Date26 Jun 2017
Pallinghurst receives 96% shareholder support for Gemfields acquisition – making its offer for Gemfields wholly unconditional
On 19 May 2017, the Board of Pallinghurst Resources Limited (“Pallinghurst”) announced the terms of an offer to be made by Pallinghurst through which Pallinghurst would offer to acquire the entire issued and to be issued share capital of Gemfields plc (other than the Gemfields Shares already held by the Pallinghurst Group), to be implemented by means of a takeover offer within the meaning of Part 28 of the Companies Act 2006 (the “Offer”). Under the terms of the Offer, each Gemfields Shareholder will be entitled to receive 1.91 Pallinghurst Shares for each Gemfields Share.