LONDON (Thomson Financial) - Gemfields Resources resumed trading at 45
pence, up 10, following a reverse takeover through the acquisition of a 75 pct
interest in the Kagem emerald mine in Zambia from Rox, a Pallinghurst Resources
portfolio company.
Gemfields is placing 66.67 million shares at 45 pence apiece.
Also on the upside, Freeplay Energy perked up 1-1/4 to 6 following bumper
full-year numbers. Moreover, the company, which makes wind-up radios and other
products using solar and rechargeable power, said trading in the first quarter
of the current year has been good, with all divisions delivering sales
performance in line with its expectations.
Shares in recent bid favourite Blinkx, the largest video search engine on
the web, climbed 4-1/4 to 33-3/4 ahead of full-year results which are scheduled
for this Thursday.
Punters beat a path to Jarvis Securities, 19 higher at 227-1/2 following
confirmation of an unsolicited approach to acquire the group's only trading
subsidiary, Jarvis Investment Management, at a valuation in excess of Jarvis's
current market capitalisation.
The group is trading ahead of management expectations and, in view of this
and strong cashflows, the board believes that the approach does not reflect the
value and prospects of the group.
The board is considering its options which could include a sale of Jarvis.
Meanwhile, the group has declared a 7 pence interim dividend, up 75 percent up
on the corresponding period.
tf.TFN-Europe_newsdesk@thomsonreuters.com
fjb/nes
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