15th Sep 2009 16:30
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
15 SEPTEMBER 2009
ROX CONDUIT LTD
WITHDRAWAL OF PROPOSED OFFER FOR SHARES IN GEMFIELDS PLC
On 5 June 2009 Rox Conduit Ltd (RoxC) announced that it was considering a possible offer for the ordinary shares in Gemfields plc (Gemfields) not already owned by its subsidiary Rox Limited (Rox) and by Pallinghurst Resources Limited (Pallinghurst), a related party of RoxC.
RoxC announces today that it no longer wishes to make an offer for Gemfields.
For the purposes of Rule 2.8 and other relevant provisions of the City Code on Takeovers and Mergers (the Code), RoxC reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Gemfields and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within the next six months, in the event that:
an agreement or recommendation from the board of Gemfields is forthcoming; or
there is an announcement by a third party of an offer or possible offer (as defined in the Code) for Gemfields; or
Gemfields announces a "whitewash" proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover; or
there is a material change of circumstances.
Enquiries
Rox Conduit Limited
Arne Frandsen +27 79528 2407
Investec Investment Banking
Gerard Kisbey-Green / Avital Lobel +44 207597 4000
College Hill
Johannes van Niekerk +27 82921 9110
Related Shares:
Gemfields Grou.