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Gemfields joins Amerivest and Pallinghurst in seeking to oust TanzaniteOne directors


Gemfields Resources PLC said it is joining Amari Resources unit Amarivest Ltd and Pallinghurst Resources (Guernsey) Ltd in considering to requisition a special general meeting of TanzaniteOne Ltd with a view to removing Edward Nealon, Nicholas Sibley and Bernard Olivier from their office as directors of T1 with immediate effect.

Amarivest, Gemfields and Pallinghurst represent 27.6 million T1 shares representing
33.2 percent of the paid up common share capital of T1.

Gemfields referred to a letter sent by the South African Reserve Bank to Amerivest, concurring with the latter’s view that T1’s recently announced B-share scheme - comprising 83,739,976 nil paid voting and unlisted B shares - violates South African Stock market regulations.
Gemfields added it joins Amerivest and Pallinghurst in seeking to reinstate Mark Summers and Ian Harebottle as directors of T1.

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