TIDMGEMD

RNS Number : 4919Q

Gem Diamonds Limited

28 June 2022

28 June 2022

GEM DIAMONDS LIMITED

("Gem Diamonds" or the "Company")

Notification of transactions by a PDMR

The Company announces that on 23 June 2022, Clifford Elphick, Chief Executive Officer of the Company, exercised options (the "Nil Cost options") to acquire 150,725 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 Plan 2017.

The Company further announces that during the period 23 June 2022 to 27 June 2022, Mr Elphick sold 109,382 Option Shares in order to realise the value allocated to him under his remuneration package. The remainder of the Option Shares are in the process of being sold and a further notification in this regard will follow once the sale has been finalised. Mr Elphick's exercise of the Nil Cost options and subsequent sale of the Option Shares will have 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 will remain at the same level as it was prior to the exercise of the Nil Cost options once the remainder of the Option Shares acquired have been sold, as demonstrated in the below table.

 
 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              6.69% 
                         -------------------  ---------------------  -------------------- 
 

* 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.

 
       Details of PDMR 
  1. 
 a)    Name                        Clifford Elphick 
      --------------------------  ---------------------------------------- 
       Reason for the notification 
  2. 
      -------------------------------------------------------------------- 
 a)    Position / status           Chief Executive Officer 
      --------------------------  ---------------------------------------- 
 b)    Initial notification        Initial notification 
        / amendment 
      --------------------------  ---------------------------------------- 
       Details of the issuer, emission allowance market participant, 
  3.    auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------- 
 a)    Full name of the            Gem Diamonds Limited 
        entity 
      --------------------------  ---------------------------------------- 
 b)    LEI                         213800RC2PGGMZQG8L67 
      --------------------------  ---------------------------------------- 
       Details of the transaction(s) 
  4. 
      -------------------------------------------------------------------- 
 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       150,725 
      --------------------------  ---------------------------------------- 
 e)    Aggregated information 
 
        Aggregated volume            N/A 
 
        Price                        N/A 
      --------------------------  ---------------------------------------- 
 f)    Date of the transaction     23 June 2022 
      --------------------------  ---------------------------------------- 
 g)    Place of the transaction    Outside a Trading venue 
      --------------------------  ---------------------------------------- 
       Details of the transaction(s) 
  5. 
      -------------------------------------------------------------------- 
 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) 
                                     0.4644     65,595 
                                      0.4614     39,787 
      --------------------------  ---------------------------------------- 
 e)    Aggregated information 
 
        Aggregated volume            N/A 
 
        Price                        N/A 
      --------------------------  ---------------------------------------- 
 f)    Date of the transaction     24 June 2022; 27 June 2022 
      --------------------------  ---------------------------------------- 
 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/ Felicity Winkles

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. 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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