RAPAPORT… Pallinghurst Resources has changed its name to Gemfields
Group as it turns its primary focus to colored gemstones.
The group’s shareholders overwhelmingly voted in favor of
the change at its annual general meeting Tuesday. It will use the new name on
the Johannesburg Stock Exchange beginning July 11.
The company, which also extracts platinum-group metals and manganese, pursued the name change to reflect its recent strategic shift toward gemstones, it explained last month.
Additionally, shareholders voted to reelect Erich Clarke,
Kwape Mmela, Christo Wiese, CEO Sean Gilbertson and David Lovett as directors.
Pallinghurst acquired emerald-and-ruby miner Gemfields in June 2017, having
previously been its largest shareholder. It subsequently delisted the company
from the stock exchange.
Pallinghurst Rebrands as Gemfields Group
The Bottom Line
- Pallinghurst Resources officially changed its name to Gemfields Group following shareholder approval at the annual general meeting.
- The rebranding aligns with the company’s strategic shift toward colored gemstones, particularly emeralds and rubies.
- Shareholders reelected key directors, including CEO Sean Gilbertson, as the company prepares to list under the new name on July 11.
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