August 4, 2017 / 6:16 AM / 15 days ago

BRIEF-Pallinghurst Resources says in full control of Gemfields, commences strategic review

Aug 4 (Reuters) - Pallinghurst Resources Ltd

* PALLINGHURST IN FULL CONTROL OF GEMFIELDS - COMMENCES STRATEGIC REVIEW

* NON-EXECUTIVE DIRECTORS OF GEMFIELDS HAVE RESIGNED

* EXPECTED THAT GEMFIELDS WILL BE 100% OWNED BY PALLINGHURST BY END OF AUGUST 2017

* PALLINGHURST INTENDS TO REPORT FINDINGS OF ITS STRATEGIC REVIEW TO ITS BOARD BY MID-SEPTEMBER

* THOROUGH REVIEW AND ANALYSIS OF OPERATIONS, INCLUDING PROCESSES, PLANS, BUDGETS AND FINANCIAL POSITION IS UNDERWAY

* DAVID LOVETT HAS BEEN APPOINTED AS CHIEF FINANCIAL OFFICER OF GEMFIELDS AND JOINS BOARD

* SEAN GILBERTSON HAS BEEN APPOINTED CHIEF EXECUTIVE OFFICER OF GEMFIELDS

* BRIAN GILBERTSON AND ARNE FRANDSEN HAVE JOINED BOARD OF GEMFIELDS AS CHAIRMAN AND DEPUTY CHAIRMAN RESPECTIVELY Source text for Eikon: Further company coverage:

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