Gemfields Grou. Regulatory News (GEM)

21 Oct 2008 12:55



21 October 2008 

NOT FOR RELEASE OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA OR JAPAN

TanzaniteOne Responds to Gemfields' Tender Offer

TanzaniteOne Limited ("TanzaniteOne" or "the Company") (AIM:TNZ) notes that Gemfields Resources plc (AIM: GEM) ("Gemfields") has today made an unsolicited tender offer to purchase up to 30,754,970 shares of the Company for 42.75 pence in cash on a "first-come, first-served" basis. Together with shares currently held by Gemfields, full acceptance of the tender offer would cause Gemfields to be interested in 42,423,300 TanzaniteOne shares representing approximately 57 per cent. of the issued share capital of the Company. 

The Board of TanzaniteOne notes that the Gemfields proposal would allow Gemfields to take control of the Company without making an appropriate offer to all shareholders. The Board strongly recommends shareholders not to accept the tender offer. A further announcement will be made in due course.

For more information, please visit www.tanzaniteone.com or contact:

Each of Lazard & Co., Limited, Evolution Securities and Ambrian Securities is acting for TanzaniteOne and no one else in connection with the offer referred to above and will not be responsible to any other person for providing the protections afforded to clients of each of Lazard & Co., Limited, Evolution Securities and Ambrian Securities respectively or for providing advice in relation to the offer referred to above.