Gem Diamonds Limited Notification of transactions by a PDMR (4919Q)
28 June 2022 - 9:52PM
UK Regulatory
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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END
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