Gem Diamonds Limited Notification of transactions by a PDMR (2347R)
04 July 2022 - 10:25PM
UK Regulatory
TIDMGEMD
RNS Number : 2347R
Gem Diamonds Limited
04 July 2022
4 July 2022
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
Notification of transactions by a PDMR
This announcement is made in addition to the PDMR notification
released on 28 June 2022 under RNS number 4919Q.
The Company announced on 28 June 2022 that Clifford Elphick,
Chief Executive Officer of the Company, had 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; and 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 Company further announces that on 1 July 2022, Clifford
Elphick sold the remaining 41,343 Option Shares, which were
acquired on 23 June 2022. 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 remains at the same level as it was prior to the
exercise of the Nil Cost options, 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
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)
0.43 41,343
----------
-------------------------- ----------------------------------------
e) Aggregated information
Aggregated volume N/A
Price N/A
-------------------------- ----------------------------------------
f) Date of the transaction 1 July 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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