Pallinghurst shareholders approve acquisition of Gemfields
Source - SMW
Pallinghurst Resources has confirmed that shareholders have approved the resolution relating to the proposed offer to acquire Gemfields was passed.
Arne H. Frandsen, Chief Executive of Pallinghurst commented:
"Shareholders today approved the restructuring of Pallinghurst Resources and the acquisition of Gemfields. With more than 96% of the voting shares in favour of the Gemfields acquisition, Pallinghurst's management has been given a clear and emphatic mandate. As management, we value and respect this vote of confidence from our shareholders, and will carry out this mandate without delay. We intend to do so as outlined in the prospectus and circular. We especially look forward to refocus and develop the operations of Gemfields for the benefit of all existing and new shareholders."
At 3:00pm: (LON:GEM) Gemfields PLC share price was -0.87p at 36.13p