BRIEF-Investor Pallinghurst Resources makes buyout offer for Gemfields

Fri May 19, 2017 6:41am GMT
 

May 19 (Reuters) - Pallinghurst Resources Ltd:

* Offer for Gemfields Plc

* Offer to be made by Pallinghurst for whole of issued and to be issued share capital of Gemfields not already held by it

* Under terms of offer, each Gemfields shareholder will be entitled to receive 1.91 Pallinghurst shares for each Gemfields share

* Offer values each Gemfields share at 38.5 pence

* Offer values entire issued and to be issued ordinary share capital of Gemfields at approximately 211,450,623 stg

* Offer will result in Gemfields investors (other than Pallinghurst) owning approximately 42.2 pct of enlarged group as at May 17

* Irrevocable undertakings and Pallinghurst's current holding in Gemfields constitute 75.27 pct of Gemfields' total issued share capital

* As at date of this announcement, offer has become unconditional as to acceptances Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

 
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