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(Sharecast News) - Gemfields announced that Assore International Holdings had further increased its stake in the emeralds and rubies miner.
The miner said that on 18 October Assore had purchased approximately 12.2m shares, taking its total stake to 340.4m shares of roughly 28.27% of Gemfields's shares for a 29.19% stake in those shares with voting rights.
Patrick Sacco and Kieran Daly, who held the positions of non-executive director and alternate non-executive director at Gemfields, were also managing director and non-executive director at Assore, respectively.
Sacco also held a beneficial interest in Assore.
On 14 September, the gemstones miner and Faberge owner had reported a sharp drop in profit and revenues at the half-year stage.
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