Further to the announcement on 10th June 2019, the Company initiated a share buy-back programme given that the Board and management believed that the recent trading range of the Gemfields share price significantly undervalues the Company. Gemfields is pleased to announce the completion of its share buy-back programme as a result of purchasing 132,037,181 shares on-market, today, 27th September 2019.
The content of this short form announcement is the responsibility of the board of directors of the Company. Shareholders are advised that this short form announcement represents a summary of the information contained in the full announcement and does not contain full or complete details of the financial results.
Gemfields is reasonably certain that its net profit after tax will be USD 12.4 million for the 6-month period to 30 June 2019 compared to a net profit after tax of USD 16.0 million for the comparative period of 6 months to 30 June 2018. In ZAR terms, net profit after tax will be ZAR 177 million (ZAR 197 million net profit after tax for the comparative period).