REG - Gem Diamonds Limited - Notification of transactions by a PDMR

Gem DiamondsAnnouncement

28/06/2022 13:00

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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 shares held prior to exercise of options and sale of shares  Number of ordinary shares held after exercise of options and sale of shares  % of total ordinary shares in issue
 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.

 

 1.  Details of PDMR
 a)  Name                                     Clifford Elphick
 2.  Reason for the notification
 a)  Position / status                        Chief Executive Officer
 b)  Initial notification / amendment         Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Full name of the entity                  Gem Diamonds Limited
 b)  LEI                                      213800RC2PGGMZQG8L67
 4.  Details of the transaction(s)
 a)  Description of the financial instrument  Gem Diamonds Limited Ordinary Shares of 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
 5.  Details of the transaction(s)
 a)  Description of the financial instrument  Gem Diamonds Limited Ordinary Shares of 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

e)

Aggregated information

 

Aggregated volume

 

Price

 

 

N/A

 

N/A

 

 

f)

Date of the transaction

23 June 2022

g)

Place of the transaction

Outside a Trading venue

5.

Details of the transaction(s)

a)

Description of the financial instrument

 

Identification Code

Gem Diamonds Limited Ordinary Shares of USD 0.01 each

 

 

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

 

Price

 

 

N/A

 

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 (mailto: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
(http://www.gemdiamonds.com/)

 

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