8th Jul 2009 13:13
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OF SUCH JURISDICTION Gemfields PLC ("Gemfields" or the "Company") 08 July 2009
Cessation of preliminary discussions with Rox Conduit Limited ("RoxC")
Further to the announcement on 24 June 2009 in respect of a possible offer from RoxC (the "Possible Offer"), Gemfields' independent committee of directors (the "Committee") announces today that, following careful consideration of the indicative terms of the Possible Offer and consultation with Gemfields' major independent shareholders, the preliminary discussions between RoxC and the Committee in respect of the Possible Offer have been discontinued. The Committee has notified RoxC of that fact and, at this point, the Committee does not have any information as to whether RoxC will pursue its interest in the Possible Offer on the same or revised indicative terms, therefore the Company remains in an offer period for the purpose of the Takeover Code.
Enquiries:
Richard James, CFO Tel: +44 (0)20 7518 3402
Gemfields PLC
Mike Jones/Andrew Chubb/Tarica Mpinga Tel: +44 (0)20 7050 6500
Canaccord Adams Limited
Nominated Adviser and Joint Broker to Gemfields
Canaccord Adams Limited ("Canaccord") (which is regulated in the United Kingdom by the Financial Services Authority) is acting exclusively for Gemfields as financial adviser, nominated adviser and broker and no one else (including the recipients of this announcement) in connection with the arrangements that are the subject matter of this announcement and will not be responsible to anyone other than Gemfields for providing the protections afforded to customers of Canaccord or for advising any other person in connection with the arrangements that are the subject matter of this announcement. Canaccord makes no representation, express or implied, with respect to the accuracy or completeness of any information contained in this announcement and accepts no responsibility for, nor does it authorise, the contents of, or the issue of this announcement, or any other statement made or purported to be made by Gemfields, or on its behalf, in connection with Gemfields or any of the other arrangements that are the subject matter of this announcement and, accordingly, disclaims all and any liability whatsoever whether arising out of tort, contract or otherwise which it might otherwise have in respect of this announcement or any other statement.
The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be subject restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction. The announcement has been prepared in accordance with English law and the City Code on Takeovers and Mergers and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.
vendorRelated Shares:
Gemfields Grou.