Guernsey: First Guernsey Fund Lists On JSE
Last Updated: 15 September 2008

A company investing in a wide variety of assets including the prestigious Fabergé brand has become the first Guernsey domiciled fund to list on the Johannesburg Stock Exchange ("JSE").

Pallinghurst Resources (Guernsey) Limited ("Pallinghurst"), a Guernsey closed-ended investment company, successfully completed its listing on the JSE on 20 August 2008.

Stuart Platt-Ransom, a non-executive director of the Company and Group Managing Director of Legis Group Limited, said: "This is an important step for Pallinghurst. The listing provides the company with strategic benefits, including enhanced liquidity and tradability of the Company’s shares, in addition to increasing its public profile and appealing to a broader set of prospective investors, thus providing wider access to capital markets, facilitating further growth and acquisition of investments."

Paul Christopher, a Partner of Ozannes, the Company’s legal advisers in Guernsey added: "Listing on any stock exchange presents a challenge particularly when you are the first company of this type from a jurisdiction to do so: Ozannes were well placed to advise, having been the advisers to a number of first listings of a similar nature."

Pallinghurst was incorporated on 4 September 2007 and was listed on the Bermuda Stock Exchange later that month. The Company is chaired by Brian Gilbertson, widely regarded as one of the leading figures in the natural resources industry, with a notable history and proven track record of value creation.

Pallinghurst raised US$169.3 million at launch and has concluded a number of investments since then, including the luxury brand Fabergé and Gemfields Resources plc, as well as investing in projects involving manganese and platinum.

Pallinghurst is currently moving forward through four investment platforms:

  • Fabergé :

    • to redevelop the Fabergé brand, restoring it as one of the world’s leading luxury brands

  • Coloured Gemstones :

    • to create the world’s leading integrated coloured gemstones producer

  • Platinum Group Metals :

    • to create a leading platinum group metals producer

  • Steel Feed Corporation :

    • to create an integrated global platform to guarantee the supply of raw material to the steel industry

Martin Tolcher, Managing Director of Legis Fund Services Limited, the Guernsey-based Administrator of Pallinghurst, commented: "We are delighted to be involved in such a dynamic fund with a very exciting future. Legis is proud to have been part of the first listing of a Guernsey domiciled fund on the JSE."

Peter Niven, Chief Executive of Guernsey Finance, added: "A Guernsey first is always an achievement worthy of note and well done to Pallinghurst and its advisers, Legis and Ozannes, for their work in getting the Guernsey name into another market, this time South Africa."

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

In association with
Press Releases from this Firm
Recent Content from this Firm
By Christopher Bogart
By Kate Clouston
By Ben Morgan
By Dominic Wheatley
By Dominic Wheatley
By Annette Alexander
By Sally French
By Iris Harvey
By Dominic Wheatley
By Dominic Wheatley
Font Size: