Business
Offer Update
Offer Update.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n Gem Diamonds Limited\n03 December 2007\n\n\n\n\n3rd December 2007\n\n GEM DIAMONDS LIMITED\n ('Gem Diamonds' or the 'Company')\n\n\n GEM DIAMONDS AUSTRALIA PTY LIMITED TAKEOVER BID\n FOR KIMBERLEY REACHES 90%\n\n\n\n\nFurther to the announcement by Gem Diamonds on 26 November 2007 of the decision\nto declare Gem Diamond Australia's takeover Offer for Kimberley Diamond Company\nNL ('Kimberley') to be unconditional, Gem Diamonds confirms that as at 3\nDecember 2007 Gem Diamond Australia, a wholly owned subsidiary of Gem Diamonds,\nhas a relevant interest in 93.03% of Kimberley's issued ordinary share capital.\nIn line with the Company's plans outlined to shareholders in the circular posted\n28 September 2007, it intends to proceed with the compulsory acquisition of the\noutstanding shares in Kimberley.\n\n\nGem Diamonds Australia also intends to proceed with the delisting of Kimberley's\nshares from the ASX and the cancellation of Kimberley's admission to AIM. The\nlast day of trading in the Kimberley's shares on ASX will be determined shortly\nand on AIM is expected to be 21 December 2007.\n\n\nAs detailed to Kimberley shareholders on 30 November 2007, Gem Diamonds\nAustralia elected to extend the Offer Period from the previously indicated\nclosing date of 1 December 2007 to 17 December 2007.\n\n\nDefinitions used in this announcement shall have the meanings given to them in\nthe shareholder circular posted 28 September 2007, except where context requires\notherwise.\n\n\nFor further information:\n\n\nGem Diamonds Limited\n\nClifford Elphick\n\nTel: +44 203 043 0280\n\n\nGem Diamond Technical Services (Pty) Limited\n\nStephen Wetherall\n\nTel: +27 82 418 8735\n\n\n\nPelham PR\n\nCandice Sgroi\n\nTel: +44 207 743 6376\n\n\nAbout Gem Diamonds\n\n\nGem Diamonds is a diamond mining company with a balanced portfolio of a\nproducing kimberlite mine, two producing alluvial mines, development projects\nand long -term prospects. Established in July 2005, Gem Diamonds is\npursuing an accelerated growth strategy and aims to become one of the world's \nleading diamond companies. Gem Diamonds currently has one producing\nkimberlite mine, Letseng, in Lesotho, two producing alluvial mines -\nCempaka in Indonesia and Mbelenge in the Democratic Republic of Congo (DRC), a\nkimberlite development project in Botswana, two development projects in ...