Trading Statement

In accordance with paragraph 3.4(b) of the JSE Limited Listings Requirements, Gemfields is reasonably certain that its net loss after tax will be USD 56.7 million for the six months ending 30 June 2020 compared to a net profit after tax of USD 12.4 million for the six months ending 30 June 2019. In ZAR terms, the net loss after tax is expected to be ZAR 959 million (ZAR 177 million net profit after tax for the comparative period).

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 5 August 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 7.05% of the total issued shares of the Company. Following the acquisition, Rational held a total of 82,371,221 ordinary shares in the Company.

The Company is pleased to announce the appointment of Liberum Capital Limited (“Liberum”) as the Company’s Joint Broker with immediate effect. finnCap will continue to act as the Company’s Nominated Adviser and Joint Broker.

At the Company’s AGM on 24 June 2020, more than 25% (53.74%) of the votes were cast against non-binding advisory vote number 1 (to endorse the Company’s Remuneration Policy) and more than 25% (47.84%) of the votes were cast against non-binding advisory vote number 2 (to endorse the Company’s Remuneration Implementation Report).

Further to the Company’s announcement on 28 April 2020, shareholders are advised that the Company has today de-listed from trading on the BSX.

Shareholders are advised that, at the Company’s Virtual Annual General Meeting (“VAGM”), held today Wednesday 24 June 2020, with the exception of Special Resolution 1, all of the remaining binding resolutions set out in the Notice of Annual General Meeting and proposed at the VAGM were passed by the requisite majority of shareholders.

As a consequence of the impact of the COVID-19 pandemic and the restrictions placed on physical public gatherings, the Annual General Meeting of shareholders of the Company will now be held electronically via a live interactive webcast, or Virtual Annual General Meeting (“VAGM”), as is permitted by the Company’s Articles of Incorporation.

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 10 June 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 6.22% of the total issued shares of the Company. Following the acquisition, Rational held a total of 72,754,759 ordinary shares in the Company.