Fabergé shareholders approve merger with Gemfields subsidiary Runway SPV

AIM-listed mining company Gemfields has announced an update on the proposed acquisition of high-end jewellery firm Fabergé.

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.

Gemfields reported that there had been no dissenting shareholders and stated that as a result, the aggregate interest of the Pallinghurst Group in Gemfields immediately following admission would be 49.5% of the enlarged issued share capital.

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

Recommended

I wish I knew what a share buyback was, but I’m too embarrassed to ask
Too embarrassed to ask

I wish I knew what a share buyback was, but I’m too embarrassed to ask

A share buyback means just what it says – a company buys back its own shares. But why? And how does that benefit shareholders?
3 Aug 2021
Improve your odds of investment success with these three stocks
Share tips

Improve your odds of investment success with these three stocks

Professional investor Tom Wildgoose of the Nomura Global High Conviction Fund highlights three of his favourite stocks.
2 Aug 2021
How to profit from pampered pets beyond the pandemic
Share tips

How to profit from pampered pets beyond the pandemic

Covid-19 has greatly boosted ownership. But the market had been expanding for years, and demographic, cultural and medical trends all point to long-te…
30 Jul 2021
Share tips of the week – 30 July
Share tips

Share tips of the week – 30 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Jul 2021

Most Popular

Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021