Distribution of Circular and Notice of EGM
Date31 Oct 2022
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.
Issue of Equity and Total Voting Rights update
Date28 Oct 2022
In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 499,538 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by a group employee.
MRM Operational Update
Date24 Oct 2022
On 20 October 2022, Gemfields updated the market regarding the Cabo Delgado insurgency and Gemfields’ decision at the time to initiate an evacuation of operational employees and contractors from Montepuez Ruby Mining Limitada (“MRM”), in which Gemfields holds a 75% interest.
Update regarding Cabo Delgado insurgency: neighbouring ruby mine attacked, MRM evacuation plan initiated
Date20 Oct 2022
Following an update on 30 August 2022, in which Gemfields announced increased vigilance regarding the Cabo Delgado insurgency, the Company wishes to report further developments. This morning, an attack attributed to insurgent activity has been reported at the neighbouring ruby mine belonging to Gemrock, which lies approximately 12km south-east of the operations of Montepuez Ruby Mining Limitada (“MRM”), in which Gemfields holds a 75% interest. Details of the attack are being verified.
Date19 Oct 2022
As previously disclosed in the Company’s Annual Report for the year ended 31 December 2021, Sean Gilbertson, an executive director, held an indirect shareholding in the Company’s shares via a non-controlling interest in Pallinghurst Resources Management L.P.. On 18 October 2022, 1,515,326 shares in the Company were transferred, off market, at a cost of 14.32 pence per share, to Sean Gilbertson who now holds those shares directly in his own name.
Date11 Oct 2022
Further to the Company’s announcement on 29 September 2022 containing details of the Interim Dividend (“Dividend”) declared by Gemfields, notice is hereby given that the dividend, being a gross dividend of USDc 1.24487 per ordinary share, payable from income reserves, will be converted from United States Dollars (USD) to South African Rand (ZAR) and Great British Pounds (GBP) at the below exchange rates of Monday, 10 October 2022, obtained from currency conversion transactions the Company has entered into: JSE shareholders – USD/ZAR 18.1725, equating to a dividend of ZARc 22.62240 per share AIM shareholders – USD/GBP 0.9008, equating to a dividend of GBP pence 1.12138 per share
Director/PDMR and Company Secretary Shareholdings
Date07 Oct 2022
On 5 October 2022 the Company announced that: (i) David Lovett, a PDMR of the Company, had exercised 1,184,200 share options at an exercise price of ZAR2.97 per ordinary share of USD0.00001 each in the company (“Ordinary Share”) and 7,000,000 share options at an exercise price of ZAR2.30 per Ordinary Share; (ii) Adrian Banks, a PDMR of the Company, had exercised 553,900 share options at an exercise price of ZAR2.97 per Ordinary Share and 6,000,000 share options at an exercise price of ZAR2.30 per Ordinary Share; and (iii) Toby Hewitt, the Company Secretary of the Company, had exercised 191,000 share options at an exercise price of ZAR2.97 per Ordinary Share and 1,500,000 share options at an exercise price of ZAR2.30...Read More →
PDMR Dealing, Company Secretary Dealing, Issue of Equity and Total Voting Rights update
Date05 Oct 2022
In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 20,144,730 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by group employees and David Lovett (PDMR), Adrian Banks (PDMR) and Toby Hewitt (Company Secretary)
MRM Commercial-Quality Auction Results
Date27 Sep 2022
Gemfields is pleased to announce the results of an auction of predominantly commercial-quality sapphire, corundum and low-quality ruby held from 19 September 2022 to 23 September 2022. The gemstones were extracted by Montepuez Ruby Mining Limitada in Mozambique (“MRM”, which is 75% owned by Gemfields and 25% by Mwiriti Limitada). The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales prices achieved at the auction.
Date26 Sep 2022
In accordance with paragraph 3.4(b) of the JSE Listings Requirements, Gemfields is reasonably certain that its net profit after tax1 will be USD 56.7 million for the six months ending 30 June 2022 (comparative six-month period: USD 23.8 million). In ZAR terms, the net profit after tax is expected to be ZAR 864 million (comparative period: ZAR 346 million).