Gemfields Group Ltd - London-headquartered gemstones supplier - Confirms it has "unbundled" the stake in Sedibelo Platinum Mines Ltd it holds via an interposed vehicle called Pallinghurst Ivy Lane Capital, which is based in Luxembourg. Ivy Lane unbundled 28% interest in Sedibelo Platinum Mines, as well as its surplus net assets, transferring these to its shareholders. Gemfields' shareholding in Sedibelo Platinum Mines had reduced to 6.5%. Gemfields first announced the proposed sale of its interest in Sedibelo Platinum Mines on November 13.
Current Johannesburg stock price: ZAR3.00, unchanged
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Gemfields Grou. (GEM)