https://www.engineeringnews.co.za

Pallinghurst secures 75% acceptances for Gemfields takeover

Pallinghurst CEO Arne Frandsen

Pallinghurst CEO Arne Frandsen

Photo by Duane Daws

27th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Pallinghurst has now garnered acceptances for 75.18% of shares in takeover target, Aim-listed miner Gemfields.

Pallinghurst CEO Arne Frandsen noted that the company was “delighted” to have received more than 75% support from Gemfields’ shareholders, including the majority of Gemfields’ minority shareholders.

Ninety-six per cent of Pallinghurst’s shareholders on Monday voted in favour of the transaction.

“It is clear that the proposed transaction has the broadest support from both sets of shareholders.

“In addition, the Fosun offer backed by Gemfields management, has lapsed. Hence, once we’ve had the first closing on July 4, we will move to delist Gemfields,” said Frandsen.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer

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:0.169 0.224s - 156pq - 2rq
Subscribe Now