Change of Company Secretary
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Date28 Aug 2018
In compliance with paragraph 3.59(b) of the JSE Listing Requirements, shareholders are advised that Vistra Fund Services (Guernsey) Limited (“Vistra”) has today resigned as Administrator and Company Secretary of Gemfields. Mourant Governance Services (Guernsey) Limited have been engaged by the Company to provide Guernsey corporate administration services from today’s date and a new Company Secretary will be appointed by the Board in due course.
Zambian Revenue Authority Search Warrants
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Date17 Aug 2018
Gemfields advises that the Zambian Revenue Authority (“ZRA”) served two search warrants during an unannounced visit to Kagem Mining Limited (“Kagem”) on 16 August 2018. The two search warrants were issued in respect of Kagem Mining Limited and Limpopo Polygraphs CC (“LPCC”), a South African company conducting periodic polygraph testing at Kagem, and whose representative is presently on site at Kagem.
Lusaka Emerald Auction Results
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Date03 Aug 2018
Gemfields is pleased to announce the results of an auction of predominantly commercial quality rough emerald held in Lusaka, Zambia from 30 July – 2 August 2018. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.
Invitation to shareholders Re: The Company’s Remuneration Policy & Implementation Report
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Date02 Aug 2018
At the Company’s AGM on 26 June 2018, more than 25% (29.6%) of the votes were cast against the non‐ binding advisory vote number 1. In keeping with the recommendations of the King IV Report on Corporate Governance for South Africa and paragraph 3.84(k) of the JSE Listings Requirements, shareholders are hereby invited to raise their concerns or recommendations on the Remuneration Policy (as set out within the Remuneration Committee Report), by means of a telephone conference with the Company Chairman, Brian Gilbertson, Lead Independent Non‐Executive Director, Lumkile Mondi and chairman of the Remuneration Committee, Kwape Mmela, to be held at 3pm SA time on 22 August 2018.
Update: Gemfields’ Ethiopia Operations
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Date01 Aug 2018
Gemfields previously advised that the emerald bulk‐sampling operations of Web Gemstone Mining plc (“WGM”), an Ethiopian company in which Gemfields holds a 75% interest, were overrun by a mob (estimated at between 300 and 500 persons) on 29 June 2018. WGM’s employees, contractors and service providers were safely evacuated on the same day, with two members of the WGM team suffering minor injuries at the hands of the mob, both of whom have since made full recoveries.