Kimberley Diamond says Gem lifts stake in co, says Gem shareholders approve bid

13 08 2010

LONDON (Thomson Financial) – Kimberley Diamond Company NL said Gem Diamonds Australia Pty Ltd has lifted its stake in the company to 26.98 pct, representing around 115.37 mln ordinary fully paid shares.

However, under the acceptance facility Gem Diamonds has established as part of its takeover offer for Kimberley Diamond, it has conditional rights to 31.92 pct of Kimberley Diamond issued shares. This figure includes the 26.98 pct relevant interest.

Separately, the company said Gem Diamonds’ shareholders yesterday approved the proposed acquisition at an EGM, which was one of the conditions attached to the bid.


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