REG - Gem Diamonds Limited - Appointment of Chair

Gem DiamondsAnnouncement

03/06/2026 13:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260603:nRSC8850Ga&default-theme=true

RNS Number : 8850G  Gem Diamonds Limited  03 June 2026

3 June 2026

GEM DIAMONDS LIMITED

("Gem Diamonds" or the "Company")

Appointment of Chair

Gem Diamonds (LSE: GEMD) is pleased to announce the appointment of Mr Mike
Brown as Non-Executive Chair of the Board, with effect from the conclusion of
the Annual General Meeting ("AGM") on 3 June 2026. Mike will succeed Mr Harry
Kenyon-Slaney who has stepped down from the role of Chair following completion
of his nine-year tenure.

In considering the succession to the role of the Chair, the Nomination
Committee carefully assessed the leadership requirements and size of the Board
in the context of the current environment in which the Company operates. The
Board recognises that the Company is navigating through a complex and
demanding period, requiring strong governance oversight, a deep understanding
of the Company's operational context, and continuity of leadership at Board
level.

Mike has over 40 years' experience in the resources industry in operational,
senior management and director roles, of which 30 years have been spent in the
diamond sector. Since joining the Board in 2018, Mike has developed a detailed
understanding of the Company's business, strategic priorities and the
challenges facing the industry. Through his service on the Board, he has also
gained valuable insight into the historical and future operational aspects at
Letšeng and the high-value and high-quality diamond production for which the
mine is renowned. The Board believes this knowledge and experience will be
particularly important as the Company navigates the current challenging
commercial environment.

In these circumstances, the Board and Nomination Committee consider that
appointing a Chair with established familiarity with the Company's operations,
stakeholder environment and strategic challenges will support stability and
effective oversight during this critical period. At the same time, Mike has
demonstrated independence of judgement and a constructive approach to Board
leadership throughout his tenure as a non-Executive Director. The Board is
therefore confident that he will continue to uphold the high standards of
governance expected of the role of Chair.

Mike has served as Non-Executive Director of the Company and Chair of the
Sustainability Committee since joining the Board in January 2018. He has also
been a member of the Audit and Nomination Committees since 2020.

In line with UK Corporate Governance Code recommendations, from 3 June 2026
Mike will retire as a member of the Audit Committee and will be the Chair of
the Nominations Committee. He will retain his position as Chair of the
Sustainability Committee. The Board considers that Mike will remain
independent on appointment as Chair for the purposes of the UK Corporate
Governance Code.

Harry Kenyon-Slaney commented: "I am delighted to be handing the chairmanship
on to Mike Brown and believe that this appointment provides an appropriate
balance between continuity, independence and effective governance during a
period of heightened complexity for the Company. I wish him and the rest of
the Board every success for the future."

 

This announcement is made pursuant to UK Listing Rule 6.4.6R. There are no
changes to the previously disclosed information in accordance with UKLR 6.4.8R
(1) to LR 6.4.8R (6) inclusive. Details of Mike's directorships are available
on the company's website www.gemdiamonds.com.

The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67.

For further information:

Gem Diamonds Limited

Kiki Constantopoulos, Company Secretary
ir@gemdiamonds.com (mailto:ir@gemdiamonds.com)

 

Celicourt Communications

Mark Antelme/Charles Denley-Myerson

Tel: +44 (0) 207 777 6424

About Gem Diamonds:

Gem Diamonds is a leading global 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAFJMTTMTIMBBF



            Copyright 2019 Regulatory News Service, all rights reserved