AIM-listed mining company Gemfields has announced an update on the proposed acquisition of high-end jewellery firm Faberg.
At Faberg's general meeting on December 17th, Faberg shareholders approved the merger of Faberg with Runway SPV, a wholly owned subsidiary of Gemfields.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Similarly, the aggregate interest of the Concert Party in Gemfields immediately following Admission and prior to the Unbundling will be 75.6% of the enlarged issued share capital.
These are the maximum holdings of the Pallinghurst Group and the Concert Party following ddmission respectively.
After the unbundling and following admission, the single largest shareholder in Gemfields will be Pallinghurst at 48.0%.
Gemfields' principle asset is the 75%-owned Kagem Emerald Mine in Zambia, the world's single largest emerald mine. The company has a further 50% stake in the Kariba Amethyst Mine in Zambia and a controlling stake in the Montepuez Ruby Deposit in Mozambique.
MF
-
Top 10 areas with the biggest inheritance tax bills – is your town on the list?People in some of the wealthiest parts of London pay the most inheritance tax – but there are a few areas outside the capital where big bills are paid when a loved one dies
-
Inheritance tax reform ‘largely protects family farms’ – what are the alternatives?Independent analysis of the government’s inheritance tax reforms has found eight out of 10 farming estates will be able to pay their IHT bill without having to sell off parts of the farm
