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PGL
PGL
PGL - Pallinghurst - Gemfields Completes Faberge Branding Arrangements
Pallinghurst Resources (Guernsey) Limited
Registration Number: 47656
(Incorporated in Guernsey)
ISIN: GG00B27Y8Z93
BSX share code: PALLRES
JSE share code: PGL
("Pallinghurst" or "the Company")
GEMFIELDS COMPLETES FABERGE BRANDING ARRANGEMENTS
Shareholders are referred to the Company`s abridged pre-listing statement
released on the Stock Exchange News Service ("SENS") of the JSE Limited ("JSE")
on Friday, 15 August 2008. Pallinghurst is pleased to announce that Gemfields
Resources plc ("Gemfields") has completed the arrangements granting it an
exclusive worldwide licence to use the Faberge brand name in respect of coloured
gemstones (excluding diamonds). Pallinghurst owns 46.8% in Faberge Limited and
an effective 28% interest in Gemfields through portfolio company Rox Limited.
Gemfields intends that the Faberge name be reserved for high-end, conflict-free
and ethically mined gemstones of guaranteed provenance. In addition, Faberge
gemstones will be individually numbered and certificated to ensure traceability.
Pallinghurst CEO Arne H. Frandsen said: "This transaction delivers the framework
within which both Gemfields and Faberge can deliver on the strategy of bringing
some of the world`s premier gemstones to the market under the Faberge brand.
This will create significant incremental value for Pallinghurst and all parties
involved."
Gemfields CEO Sean Gilbertson said: "Coloured gemstones were a key theme in the
remarkable works of Peter Carl Faberge. Gemfields` ability to deploy the Faberge
name on coloured gemstones continues that association and adds yet another
compelling layer to Gemfields` vision of bringing high grade, ethically
produced, conflict-free gemstones of certified provenance directly from the mine
to the market on an integrated basis."
The licence, granted pursuant to an option which Gemfields acquired in June
2008, covers an initial 15 year term.
1 September 2008
Sponsor
Investec Bank Limited
Enquiries
Pallinghurst
Arne H. Frandsen, CEO +44 (0) 20 751 83399
College Hill +27 (0) 11 447 3030
Johannes van Niekerk +27 (0) 82 921 9110
Date: 01/09/2008 15:12:01 Produced by the JSE SENS Department.
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