Pallinghurst Rebrands as Gemfields Group

RAPAPORT... Pallinghurst Resources has changed its name to GemfieldsGroup as it turns its primary focus to colored gemstones. The group's shareholders overwhelmingly voted in favor ofthe change at its annual general meeting Tuesday. It will use the new name onthe 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, havingpreviously been its largest shareholder. It subsequently delisted the companyfrom the stock exchange.