3 Dec 2008 14:30
Gemfields Resources Plc ("Gemfields")
South African Exchange Controls relating to the TanzaniteOne Limited B Share Scheme
03 December 2008, Gemfields Resources Plc ("Gemfields")(AIM:GEM) has noted the news release on the Amari Resources' website in relation to the South African Reserve Bank letter dated 27 November 2008 addressed to Amarivest Limited ("Amarivest") with respect to the issue by TanzaniteOne Limited ("T1") of 83,739,976 nil paid voting and unlisted B shares.
As a fellow shareholder of T1, Gemfields shares the concerns raised by Amarivest and confirms that it is, together with Amarivest and Pallinghurst Resources (Guernsey) Ltd, considering the requisition of a T1 Special General Meeting for the purpose of considering the removal of Mr. Edward Nealon, Mr Nicholas Sibley and Mr Bernard Olivier from their office as directors of T1 and the re-appointment of Mr Mark Summers and Mr Ian Harebottle as directors of T1.
Enquiries:
Richard James, CFO Tel: +44 (0)20 7016 9416
Gemfields Resources Plc
Gerard Kisbey-Green/Paul Gray/Avital Lobel Tel: +44 (0)20 7597 4000
Investec Bank (UK) Limited
Financial Adviser to Gemfields
Mike Jones/Tarica Mpinga Tel: +44 (0)20 7050 6500
Canaccord Adams Ltd
Nominated Adviser and Joint Broker to Gemfields
Gemfields Press Enquiries
Charlie Geller/Ed Portman Tel: +44 (0)20 7429 6666
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