Assore International Holdings Limited has lifted its shareholding in gemstone miner Gemfields to 26.17% making it the largest shareholder.
AHIL held only 5% of Gemfields' shares at the beginning of last month.
It now holds 305.81-million Gemfields shares.
The development comes after the sale by Christo Wiese and his family and associates of about 154.66-million shares in the Aim-listed company.
Wiese, however, retains about 5.73-million Gemfields shares or 0.49% of the company's shares in issue.
Meanwhile, Gemfields said it issued and allotted 30,000 new ordinary shares of $0.00001 each following the exercise of employee share options.
Application has been made for the new Ordinary Shares to be admitted to trading on AIM which is expected to occur on or around 6 October 2021.
Application for the new Ordinary Shares to be admitted to trading on the JSE was approved on 1 October.
Following Admission, there will be 1,17 million ordinary shares in issue with each ordinary share carrying the right to one vote.
Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique.
In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Ethiopia, and Madagascar.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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