Change of Chairman
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Date18 Nov 2019
Gemfields announces that Mr Brian Gilbertson will step down as the Chairman and as a director of the Company with effect from 25 November 2019. Mr Martin Tolcher, who has served on the Board since 25 November 2008, will take over as Chairman of the Company.
Update on Distribution Pool
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Date21 Oct 2019
On 27 September 2019, the Company announced that: (i) it had completed a share buy-back programme, purchasing 143,168,555 shares on-market during the period 11 June – 27 September 2019 at an average price of ZAR 1.50 per share; (ii) the remaining balance of the Distribution Pool (referred to in its announcement of 27 June 2019) stood at USD10.28 million; and (iii) a further announcement would be made regarding the remaining Distribution Pool balance by 25 October 2019.
Update on share buy-back
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Date27 Sep 2019
Further to the announcement on 10th June 2019, the Company initiated a share buy-back programme given that the Board and management believed that the recent trading range of the Gemfields share price significantly undervalues the Company. Gemfields is pleased to announce the completion of its share buy-back programme as a result of purchasing 132,037,181 shares on-market, today, 27th September 2019.
Trading Statement
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Date18 Sep 2019
Gemfields is reasonably certain that its net profit after tax will be USD 12.4 million for the 6-month period to 30 June 2019 compared to a net profit after tax of USD 16.0 million for the comparative period of 6 months to 30 June 2018. In ZAR terms, net profit after tax will be ZAR 177 million (ZAR 197 million net profit after tax for the comparative period).
Gemfields commences share buy-back
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Date10 Jun 2019
Shareholders are advised that Gemfields has commenced a share repurchase programme of the Company’s ordinary shares. The share repurchase programme has been implemented by the Company in accordance with the general authority received by way of shareholders’ resolutions passed at the annual general meeting held on 10 May 2019.
Results of Annual General Meeting
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Date10 May 2019
Shareholders are advised that at the Company’s Annual General Meeting (“AGM”) held on Friday 10th May 2019, all of the binding resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders.
Amended Proxy Forms for 2019 AGM
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Date29 Apr 2019
Gemfields wishes to advise that, in relation to its Annual General Meeting (“AGM”) to be held on 10th May 2019 at 10 a.m. (BST), the proxy forms originally sent to shareholders on 10th April 2019 inadvertently omitted two non-binding advisory votes shown on the Notice of AGM, as follows: Endorsement of the Company’s Remuneration Policy; and Endorsement of the Company’s Remuneration Implementation Report.
Disclosure of beneficial interests in securities
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Date18 Apr 2019
In compliance with paragraph 3.83(b) of the JSE Listings Requirements, the Company hereby discloses the acquisition of a beneficial interest of 0.1226% in the Company’s securities by Investec Limited (“Investec”). The acquisition resulted in Investec’s percentage holding in the Company’s securities increasing from 4.9538% to 5.0764%. Following the acquisition, Investec held a total of 72,677,822 ordinary shares in the Company.
Conditional Sale of Shares in Jupiter Mines Ltd (“Jupiter”) and Intention to Declare Special Dividend
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Date15 Apr 2019
The Board of Directors of Gemfields (the “Board”) is pleased to announce that it has entered into a conditional sale and purchase agreement with AMCI Euro Holdings B.V. (“AMCI”), pursuant to which Gemfields (through its wholly owned subsidiary, Pallinghurst Consolidated (Cayman) Ltd (“PCCL”)) has agreed to sell, and AMCI has agreed to purchase, 145,845,372 ordinary shares (the “Transaction”) in ASX-listed Jupiter (the “Jupiter Shares”), such shares constituting Gemfields’ entire remaining holding in Jupiter following its participation in Jupiter’s IPO last year.
Gemfields Trading Statement
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Date22 Mar 2019
Gemfields is reasonably certain that its net loss after tax will be USD 60.4 million for the year ended 31 December 2018 compared to a net profit after tax of USD 45.1 million for the year ended 31 December 2017. In ZAR terms, the net loss after tax is expected to be ZAR 801 million (ZAR 600 million net profit after tax for the comparative year). The loss per share is expected to be USDc 5.0 for the year ended 31 December 2018 compared to earnings per share of USDc 4.0 for the comparative year. In ZAR terms, the loss per share is expected to be ZAR 0.63 (ZAR 0.49 earnings per share for the comparative period).