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.
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
RICS: Housing market continues to strengthen but 2025 could be challenging
The latest survey by the Royal Institution of Chartered Surveyors reports a resilient UK housing market, but warns of headwinds next year
By Ruth Emery Published
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrency
According to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
By Chris Newlands Published