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.
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