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Ruby Auction Results

Gemfields is pleased to announce the results of a ruby auction held in Bangkok from 21 November – 8 December 2022. The auction contained a selection of grades that are typically offered at Montepuez Ruby Mining Limitada’s (“MRM”) auctions of mixed quality rubies.

Issue of Equity and Total Voting Rights update

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 300,000 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by a group employee.

Results of Extraordinary General Meeting

Shareholders are advised that the Company’s Extraordinary General Meeting (“EGM”) was held today, Wednesday 30 November 2022, pursuant to which the Company sought shareholder approval for a general share buy-back programme of up to USD 10 million (the “Share Buy-Back”).

PDMR Dealing, Issue of Equity and Total Voting Rights

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 2,607,767 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by group employees and Kartikeya Parikshya (a person discharging managerial responsibilities, or “PDMR”).

Issue of Equity and Total Voting Rights update

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 860,650 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by group employees.

Emerald Auction Results

Gemfields is pleased to announce the results of an emerald auction comprising a series of 5 sequential mini-auctions held during the period 30 October – 17 November 2022. The auction contained a selection of grades that are typically offered at Kagem Mining Ltd’s (“Kagem”) auctions of higher quality emeralds. In addition, the auction included a 37kg special interest piece called the “Kafubu Cluster”.

Issue of Equity and Total Voting Rights update

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 1,170,770 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by group employees.

Distribution of Circular and Notice of EGM

Shareholders of Gemfields (“Shareholders”) are referred to the Company’s announcement on 29 September 2022 where it was noted that the board of directors of the Company (“Board”) had approved and would seek shareholder approval for a general share buy-back programme of up to USD 10 million (the “Share Buy-Back”). The Board is of the view that the Share Buy-Back represents an opportunity to promote Gemfields’ financial success and is a good use of surplus cash, on the basis that Gemfields is able to invest in itself at an attractive, low enterprise valuation and simultaneously enhance future earnings per share for the benefit of Shareholders.

Notification of major holdings

In compliance with paragraph 3.83(b) of the JSE Listings Requirements and AIM Rule 17, shareholders are advised that Gemfields received formal notification on 28 October 2022 from Rozendal Associate Holdings (“Rational Expectations”) that it, combined with related parties, now hold a total of 120,672,805 ordinary shares in the Company, equivalent to 10.01 per cent of the total issued shares in the Company.