Category

AIM & SENS Announcements

Gemfields assembles ‘The G-Factor for Natural Resources’

Gemfields today invites collaboration, input and support from governance bodies, mining organisations, industry observers and host governments in adopting the ‘G-Factor for Natural Resources’, a new measure promoting greater transparency regarding the level of natural resource wealth shared with the governments of host countries. The G-Factor for Natural Resources is intended to be an uncomplicated indicator of the percentage of a natural resource company’s revenue that is paid to the host country government in primary and direct taxes, plus – where the host government is a shareholder – dividends. As such, it is an indicator of the share of natural resource wealth paid to a host country’s government.

Response to Share Price Movement

The Company notes the recent increase in its share price and confirms that there is no disclosable unpublished price-sensitive information relating to the Company at the present time. The Company’s operations in both Mozambique and Zambia remain materially uninterrupted. The Company is closely monitoring the global Covid-19 situation and presently expects to hold three further gemstone auctions this year.

Results of Virtual Annual General Meeting

Shareholders are advised that the Company’s Virtual Annual General Meeting (“VAGM”) was held today, Thursday 24 June 2021. With the exception of Special Resolution 1, all binding resolutions set out in the Notice of Virtual Annual General Meeting were passed by the requisite majority of shareholders. Further, the Company acknowledges that more than 25% of shareholders have voted against Non-Binding Advisory Vote 1 (albeit by a small margin), being the endorsement of the Company’s Remuneration Policy. As such, and in keeping with the principles of the King IV Corporate Governance Code, the Company will again seek to engage with shareholders in relation to the Company’s Remuneration Policy in due course.

Gemfields Group Limited Virtual Annual General Meeting

Further to the Company’s announcement on 30 April 2021, shareholders should note the following in respect of access to the VAGM to be held on Thursday, 24 June 2021 at 10 a.m. (British Summer Time). Shareholders will be able to view and/or participate through the VAGM online facility. A step-by-step guide on ‘How To Participate In The Annual General Meeting’ will be made available on the Company’s website shortly.

No Change Statement, Notice of AGM and BBEE Annual Compliance Report

Shareholders are informed that Gemfields’ Annual Report for the year ended 31 December 2020 (the “Annual Report”) is now available on the Gemfields website at www.gemfieldsgroup.com. The Financial Statements contained within the Annual Report contain no modifications to Gemfields’ Audited Annual Results for the year ended 31 December 2020, which were published on both SENS and RNS on 30 March 2021.

No Change Statement, posting of the Notice of AGM & Annual Results and B-BBEE Annual Compliance Report

Shareholders are informed that Gemfields’ Annual Report for the year ended 31 December 2019 (the “Annual Report”) is now available on the Gemfields website. The Financial Statements contained within the Annual Report contain no modifications to Gemfields’ Audited Annual Results for the year ended 31 December 2019 which were published on both SENS and RNS on 6 April 2020. The Financial Statements have been audited by the Company’s auditors, BDO LLP. Their audit opinion was not qualified but included a material uncertainty regarding the going concern assumption and a reference to the Directors’ disclosures on going concern.

Disclosure of beneficial interests in securities

In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields has received formal notification from Rational Expectations (Pty) Ltd (“Rational”) on 13 March 2020, that Rational and related parties acquired a beneficial interest in the ordinary shares of the Company, such that the total beneficial interest in ordinary shares of the Company held by Rational is now 5.62% of the total issued shares of the Company.
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