Category

Trading Statement

Disclosure of beneficial interests in securities

In compliance with AIM Rule 17, shareholders are advised that Gemfields received formal notification on 17 January 2022 from Diacolor International DMCC (“Diacolor”) that Diacolor holds a total of 40,610,337 ordinary shares, equivalent to 3.47% of the total issued shares in the Company.

Issue of Equity and Total Voting Rights

In accordance with AIM Rule 17, shareholders are advised that Gemfields have issued and allotted 509,200 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of employee share options.

Update – Proposed Sale of Stake in Sedibelo Platinum

Gemfields hereby provides an update on the proposed sale of its interest in Sedibelo Platinum Mines Limited (“SPM”). At the time of the Company’s announcement on 13 November 2020, Gemfields held its stake in SPM via an interposed vehicle named Pallinghurst Ivy Lane Capital S.à r.l. (“Ivy Lane”), a company incorporated in Luxembourg, which in turn had an interest in 27.64% of SPM.

Record Ruby Auction Results

Gemfields is delighted to announce the results of a ruby auction comprised of seven sequential mini-auctions held during the period 8 November – 9 December 2021. The auction delivered an all-time high for MRM ruby auctions and contained a selection of grades that are typically offered at Montepuez Ruby Mining Limitada’s (“MRM”) auctions of mixed quality rubies. Selected lots were made available for in-person and private viewings by customers in Bangkok, Dubai and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-bid process.

Emerald Auction Results

Gemfields is pleased to announce the results of an emerald auction comprising a series of five sequential mini-auctions held during the period 1 November – 6 December 2021. The auction contained a selection of grades that are typically offered at Kagem Mining Ltd’s (“Kagem”) auctions of higher quality emeralds as well as a selection of special pieces. The auction lots were made available for in-person and private viewings by customers in Dubai and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-bid process.

Change of Auditors

Following a competitive tender process and a recommendation from its Audit Committee, the Gemfields’ Board resolved to appoint Ernst & Young LLP (“Ernst and Young”) as its statutory auditors, commencing with the financial year ending 31 December 2022, subject to ratification by shareholders in the Company’s 2022 Annual General Meeting. The Board and the Audit Committee have taken the view that this change of auditors promotes good corporate governance given the long period that the incumbents, BDO LLP (“BDO”), have been in position.

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure and Transparency Rules, shareholders are advised that as at the date of this notice, the Company’s issued share capital consists of 1,169,478,030 ordinary shares with a nominal value of USD0.00001 each (“Ordinary Shares”), with each share carrying the right to one vote. The Company does not hold any shares in Treasury.

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 29 November 2021, that Rational and related parties acquired a beneficial interest in ordinary shares of the Company, such that the total beneficial interest in ordinary shares of the Company held by Rational is now 9.02% of the total issued shares of the Company. Following the acquisition, Rational held a total of 105,500,462 ordinary shares in the Company.

Appointment of Alternate Director

Gemfields is pleased to announce that Kieran Daly will join the Board as an Alternate Director to Non-Executive Director Patrick Sacco with immediate effect. Mr Daly will act for Mr Sacco in the event of any absence.

Issue of Equity and Total Voting Rights

In accordance with AIM Rule 17, shareholders are advised that Gemfields have issued and allotted 12,000 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of employee share options.
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