Pallinghurst lowers acceptance condition for Gemfields takeover

Pallinghurst Resources on Wednesday lowered the minimum acceptances required for its proposed takeover of Gemfields from 75% to 60%. The company had received valid acceptances from shareholders holding about 14.16% of Gemfields shares, which, with its own Gemfields shareholding of 47.09%, pushed the total to 61.25%, making the offer unconditional.