Gem Diamonds Limited Share Options (3507S)
17 March 2016 - 3:48AM
UK Regulatory
TIDMGEMD
RNS Number : 3507S
Gem Diamonds Limited
16 March 2016
GEM DIAMONDS LIMITED
Awards to directors under the Employee Share Option Plan
(ESOP)
The Company announces the following grants of Performance Shares
(at nominal value US $0.01) which have been made on 15 March 2016
to Directors under the ESOP.
Number of Performance
shares granted
Clifford
Elphick 230,000
Michael
Michael 170,000
Glenn Turner 170,000
The shareholding of each Director in the Company's Ordinary
Shares of US $0.01 each is:
Clifford Elphick 9,325,000*
Michael Michael 10,000
Glenn Turner 400,000
* Clifford Elphick is interested in these ordinary shares by
virtue of his interest as a potential beneficiary in a
discretionary trust which has an indirect interest in those
ordinary shares.
The grants under the ESOP are structured in the form of
Performance Shares each of which vest on the third anniversary of
the date of grant, subject to achieving certain performance
conditions. Awards which do not vest will lapse. Those which vest
are exercisable between 15 March 2019 and 15 March 2026.
Gem Diamonds Limited
Glenn Turner/Juliet Kirk
Tel: +44 (0) 203 043 0280
Bell Pottinger
Daniel Thole / Anna Legge
Tel: +44 (0) 20 3772 2500
ABOUT GEM DIAMONDS:
Gem Diamonds is a leading global diamond producer of world
class, high-value diamonds.The Letšeng mine is renowned for the
production of large, top colour, exceptional white diamonds, making
it the highest average dollar per carat kimberlite diamond mine in
the world. Since Gem Diamonds acquired the Letšeng mine in 2006, it
has produced four of the 20 largest white gem quality diamonds ever
recorded.
Gem Diamonds has a growth strategy based on enhancing the
operational efficiencies of Letšeng and developing the Ghaghoo
mine, whilst maintaining its strong balance sheet. The Company
seeks to maximise revenue and create additional margin from its
rough diamond production through the Group's expanded sales,
marketing and manufacturing capabilities. With favourable
supply/demand dynamics expected to benefit the industry over the
medium to long term, particularly at the high end of the market
supplied by Gem Diamonds, this strategy positions the Company well
to generate attractive returns for shareholders in the coming
years.
This information is provided by RNS
The company news service from the London Stock Exchange
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