Gemfields’ (LON:GEM) largest investor Pallinghurst said Monday it has received support from 96% of its shareholders to buy remaining interest in the world's top coloured gems producer.
Gemfields says Pallinghurst’s offer undervalues the company and its prospects as a leading player in the sector.
The London-listed miner told investors it still believes Pallinghurst’s bid “undervalues Gemfields and its prospects as a leading player in the coloured gemstone sector,” and call shareholders to take no action on the offer, which remains open until July 18.
Gemfields has been at the centre of a bidding war between the South African private equity group and Fosun Gold, a unit of Fosun International.
It all began last month, when Pallinghurst tabled a share and cash offer of 38.5 pence per Gemfields share, and a few days later Fosun countered with 45.0p per share.
Gemfields, which owns the luxury Fabergé brand, produces about a third of the world’s emeralds and rubies from two mines in Zambia and one in Mozambique.
Pallinghurst currently has a 41.7% stake in Gemfields. It also has interests in the platinum and manganese sector in South Africa.
The post Pallinghurst shareholders back acquisition of Gemfields appeared first on MINING.com.
from MINING.com http://ift.tt/2s9BoM0
Aucun commentaire:
Enregistrer un commentaire