Pallinghurst secures additional acceptance of Gemfields takeover

As Johannesburg- and Bermuda-listed Pallinghurst Resources continues its takeover bid of 47%-owned coloured gemstones producer Gemfields, the group has secured acceptances totalling over 61.25% of the existing issued share capital of Gemfields. In addition to Pallinghurst’s own 47.09% stake, or 258.9-million Gemfields shares, the dual-listed group has received valid acceptances representing 14.16%, or 77.8-million shares from fellow Gemfields shareholders.