November 2019

Singapore Emerald Auction Results

Gemfields is pleased to announce the results of an auction of higher quality rough emeralds held in Singapore from 18‐21 November 2019. 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.

Change of Chairman

Gemfields announces that Mr Brian Gilbertson will step down as the Chairman and as a director of the Company with effect from 25 November 2019. Mr Martin Tolcher, who has served on the Board since 25 November 2008, will take over as Chairman of the Company.

Notice of EGM

Notice is hereby given that an extraordinary general meeting (“EGM”) of shareholders of Gemfields will be held at 1 Cathedral Piazza, London, SW1E 5BP, United Kingdom on Wednesday, 4 December 2019 at 10.00 a.m. (British Time). The Notice of EGM and associated proxy forms have been posted to shareholders today, Tuesday, 5 November 2019. Those shareholders registered on the Company’s shareholders’ register on Friday, 25 October 2019 will receive notice of the EGM. For JSE purposes, those shareholders registered on the Company’s shareholders’ register on Friday, 29 November 2019 will be eligible to participate and vote. Accordingly, the last date to trade will be Tuesday, 26 November 2019.