TIDMGEMD

RNS Number : 1911O

Gem Diamonds Limited

05 February 2021

5 February 2021

GEM DIAMONDS LIMITED

("Gem Diamonds" or the "Company")

Notification of transactions by a PDMR

The Company announces that on 3 February 2021, Clifford Elphick, Chief Executive Officer of the Company, exercised options (the "Nil Cost options") to acquire 225 364 ordinary shares of US$ 0.01 each in the Company (the "Option Shares"). The Nil Cost options were issued pursuant to the Gem Diamonds Employee Share Option Plans 2007 and 2017.

The Company further announces that during the period 3 February 2021 to 4 February 2021, Mr Elphick sold the Option Shares in order to realise the value allocated to him under his remuneration package. As further detailed in the table below, Mr Elphick's exercise of the Nil Cost options and subsequent sale of the Option Shares has had no net effect on the number ordinary shares in the Company held by him prior to exercise of the Nil Cost options. Mr Elphick's founder shareholding remains at the same level as it was prior to the exercise of the Nil Cost options.

 
 Name of Director/PDMR    Number of ordinary   Number of ordinary     % of total ordinary 
                           shares held          shares held after      shares in issue 
                           prior to exercise    exercise of options 
                           of options and       and sale of shares 
                           sale of shares 
 Clifford Elphick         9,325,000*           9,325,000              6.68% 
                         -------------------  ---------------------  -------------------- 
 

* C 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 these ordinary shares.

The following disclosure is made in accordance with Article 19 of the UK Market Abuse Regulations.

 
 1.   Details of PDMR 
 a)   Name                        Clifford Elphick 
     --------------------------  ---------------------------------------- 
 2.   Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position / status           Chief Executive Officer 
     --------------------------  ---------------------------------------- 
 b)   Initial notification        Initial notification 
       / amendment 
     --------------------------  ---------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------- 
 a)   Full name of the            Gem Diamonds Limited 
       entity 
     --------------------------  ---------------------------------------- 
 b)   LEI                         213800RC2PGGMZQG8L67 
     --------------------------  ---------------------------------------- 
 4.   Details of the transaction(s) 
     -------------------------------------------------------------------- 
 a)   Description of the          Gem Diamonds Limited Ordinary Shares of 
       financial instrument        USD 0.01 each ("Shares") 
       Identification Code         VGG379591065 
     --------------------------  ---------------------------------------- 
 b)   Nature of the transaction   Exercise of Nil Cost share options 
     --------------------------  ---------------------------------------- 
 c)   Currency                    GBP - British Pound 
     --------------------------  ---------------------------------------- 
 d)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                    0.00       225,364 
     --------------------------  ---------------------------------------- 
 e)   Aggregated information       N/A 
       Aggregated volume            N/A 
       Price 
     --------------------------  ---------------------------------------- 
 f)   Date of the transaction     3 February 2021 
     --------------------------  ---------------------------------------- 
 g)   Place of the transaction    Outside a Trading venue 
     --------------------------  ---------------------------------------- 
 5.   Details of the transaction(s) 
     -------------------------------------------------------------------- 
 a)   Description of the          Gem Diamonds Limited Ordinary Shares of 
       financial instrument        USD 0.01 each 
       Identification Code 
                                   VGG379591065 
     --------------------------  ---------------------------------------- 
 b)   Nature of the transaction   Sale of Shares 
     --------------------------  ---------------------------------------- 
 c)   Currency                    GBP - British Pound 
     --------------------------  ---------------------------------------- 
 d)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                    0.4692     120,323 
                                     0.4637     105,041 
     --------------------------  ---------------------------------------- 
 e)   Aggregated information       N/A 
       Aggregated volume            N/A 
       Price 
     --------------------------  ---------------------------------------- 
 f)   Date of the transaction     3 February 2021; 4 February 2021 
     --------------------------  ---------------------------------------- 
 g)   Place of the transaction    London Stock Exchange 
     --------------------------  ---------------------------------------- 
 

For further information:

Gem Diamonds Limited

Susan Wallace, Company Secretarial department

Tel: +44 (0) 203 043 0280

ir@gemdiamonds.com

Celicourt Communications

Mark Antelme/Ollie Mills

Tel: +44 (0) 208 434 2643

About Gem Diamonds :

Gem Diamonds is a leading global diamond producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. www.gemdiamonds.com

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