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Gemfields to sell 23.65% stake in Pallinghurst Ivy Lane Capital
StockMarketWire.com
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Natural resources company Gemfields announced the proposed sale of its 23.65% stake in Pallinghurst Ivy Lane Capital, a company incorporated in Luxembourg.
Ivy Lane in turn owned 27.64% of Sedibelo Platinum Mines, giving Gemfields an effective and indirect interest in SPM of approximately 6.54%.
SPM owned and operated the Pilanesburg Platinum Mines located in South Africa's Bushveld Igneous Complex.
As previously announced, SPM was not considered a core part of Gemfields' strategy, the company said.
At 8:35am: (LON:GEM) Gemfields PLC share price was 0p at 6.25p
Story provided by StockMarketWire.com
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