Business
Takeover Bid Closes
Takeover Bid Closes.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n Gem Diamonds Limited\n18 December 2007\n\n\n\n18th December 2007\n\n GEM DIAMONDS LIMITED\n\n ('Gem Diamonds' or the 'Company')\n\n\n\n GEM DIAMONDS AUSTRALIA TAKEOVER BID\n FOR KIMBERLEY CLOSES\n\n\n\n\n\n\n\nFurther to the announcement by Gem Diamonds on 3 December 2007 of Gem Diamonds\nAustralia Pty Limited's (Gem Diamonds Australia) relevant interest in 93.03% of\nthe issued share capital of Kimberley Diamond Company NL ('Kimberley'), the\nCompany can confirm that the Offer to acquire all issued shares in Kimberley\nclosed yesterday, 17 December 2007, at 5.00 pm (Western Summer Time, Australia)\nwith Gem Diamonds Australia having acquired a relevant interest in 95.96% of\nKimberley.\n\n\n\nGem Diamonds Australia has commenced the compulsory acquisition of the remaining\nKimberley shares and dispatched compulsory acquisition notices to the remaining\nKimberley shareholders on 10 December 2007.\n\n\n\nKimberley's shares were suspended from quotation on the ASX at the close of\nbusiness in Australia on 17 December 2007 and their admission to trading on AIM\nwill be cancelled on 21 December 2007.\n\n\n\nFollowing the completion of the acquisition of Kimberley, Gem Diamonds now\ncontrols four producing assets; the Letseng Mine in Lesotho, the Cempaka mine in\nIndonesia, the Mbelenge mine in the DRC and now the Ellendale Mine in Western\nAustralia, renowned for its production of fancy yellow diamonds.\n\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\n\nFor further information:\n\n\n\nGem Diamonds Australia\n\nStephen Wetherall\n\nTel: +61 437 855 164\n\n\n\nPelham PR\n\nJames Henderson\n\nTel: +44 207 743 6673\n\n\n\n\nAbout Gem Diamonds\n\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 kimberlite\nmine, Letseng, in Lesotho, two producing alluvial mines - Cempaka in\nIndonesia and Mbelenge in the Democratic Republic of Congo (DRC), a kimberlite\ndevelopment project in Botswana,...