Gemfields, which is being subjected to a take-over by JSE-listed Pallinghurst resources, is expected to de-list from the London Stock Exchange (LSE) on Friday. In a statement on Thursday, Pallinghurst appealed for a minority of Gemfields shareholders who oppose the take-over to accept the offer immediately, as this would allow them to receive shares sooner than would be the case if a compulsory acquisition procedure were undertaken. An independent committee of Gemfields shareholders had rejected the takeover from Pallinghurst, maintaining that it significantly undervalued the company. They called the unsolicited offer from Pallinghurst "derisory". However, the bid received the backing of more than 75% of shareholders. In mid-morning trade, Gemfields was up 0.10% on the LSE to £31.12. Pallinghurst was unchanged at R3.01. The company said earlier in July that valid acceptances represented 92.38% of the Gemfields shares to which the offer relates. With Allan Seccombe

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