REG - Gemfields Group Ltd - Trading Statement and Proposed Rights Issue

GemfieldsAnnouncement

11/04/2025 07:00

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RNS Number : 6212E  Gemfields Group Limited  11 April 2025

Incorporated in Guernsey. Guernsey registration number: 47656

South African external company registration number: 2009/012636/10

Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM

ISIN: GG00BG0KTL52   |   LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Group" or the "Company")

 

Trading Statement for the year ended 31 December 2024 and Announcement in
connection with a Proposed Rights Issue

LONDON, 11 APRIL 2025

In accordance with paragraph 3.4(b) of the JSE Listings Requirements,
Gemfields shareholders are advised that the Company is reasonably certain of
its expected financial results for the year ended 31 December 2024.

Release of Full Year Results and Annual Report

The Company's financial results for the year ended 31 December 2024 are
expected to be released today (Friday 11 April 2025) on SENS, RNS and the
Company's website at 07:30am (UK) / 08:30am (South Africa).

Announcement of Proposed Rights Issue

Gemfields Group Limited also announces it will be seeking shareholder approval
to, amongst other things, issue 556,203,396 New Shares to raise approximately
USD 30 million by way of a fully committed and underwritten Rights Issue (the
"Proposed Rights Issue"). The Proposed Rights Issue, which subject to
shareholder approval, shall be fully underwritten by Gemfields' two largest
shareholders, Assore International Holdings Limited ("AIH") and Rational
Expectations (Pty) Ltd ("Rational"). Should shareholder approval be obtained
at an Extraordinary General Meeting ("EGM") of the Company, the Company will
launch the Proposed Rights Issue which will be offered at a UK Issue Price of
4.22 pence per New Share and SA Issue Price of ZAR 1.06860 per New Share, on a
10 New Shares for every 21 Existing Shares basis and will be available to all
qualifying shareholders.

AIH and Rational have also entered into Pre-Funding Agreements with the
Company, pursuant to which each of AIH and Rational shall make loans
equivalent to their pro-rata entitlement in the Proposed Rights Issue in the
amounts of USD 8,742,000 and USD 4,646,000, respectively (together the
"Loans") to the Company, subject to the publication of the EGM Circular. The
Loans will provide the Company with an immediate working capital injection
pending the completion of the Proposed Rights Issue.

The full announcement, Notice of EGM and publication of the EGM Circular
setting out details of the Proposed Rights Issue is expected to be released
following the receipt of final regulatory approval, and will also be made
available on the Company's website at: www.gemfieldsgroup.com
(http://www.gemfieldsgroup.com) .

Expected loss per share and headline loss per share

Loss per share(1) for the year ended 31 December 2024 is expected to be USDc
7.0 (2023: Loss per share - USDc 0.8). In ZAR terms, the loss per share is
expected to be ZARc 129.0 (2023: Loss per share - ZARc 15.4).

Headline loss per share(1) is expected to be USDc 2.1 (2023: Headline loss per
share - USDc 0.9). In ZAR terms, headline loss per share is expected to be
ZARc 39.1 (2023: Headline loss per share - ZARc 16.0).

The Company's weighted average shares in issue for the year ended 31 December
2024 was 1,167,028,719 (Weighted average for 2023: 1,206,076,930).

The financial information upon which this trading statement is based has not
been reviewed or reported on by the Company's auditors and is the
responsibility of the Company's directors.

(1) Per share metrics based on weighted average number of shares over the
period and earnings are based on parent-only figures (i.e. exclusive of the
minority interest).

Full year results shareholder and analyst webcast

The Company intends to schedule a shareholder and analyst webcast after
receiving final regulatory approval for the release of the Proposed Rights
Issue shareholder Circular.

In the meantime, should you wish to ask a question, please contact
ir@gemfields.com (mailto:ir@gemfields.com) .

 

-ENDS-

 

 

 

Further information on Gemfields Group Limited can be found at:

 GEMFIELDSGROUP.COM (http://WWW.GEMFIELDSGROUP.COM)

 

To join our investor mailing list, please contact us on:
ir@gemfields.com (mailto:ir@gemfields.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) no. 596/2014 which forms part of domestic UK
law pursuant to the European Union (withdrawal) act 2018 ("MAR").

 

 

ENQUIRIES

 

 GEMFIELDS                                      Sean Gilbertson / David Lovett / Ian Hughes

                                                ir@gemfields.com (mailto:ir@gemfields.com)

T:  +44(0) 20 7518 3400
 SPONSOR (JSE)                                  Investec Bank Limited
 NOMINATED ADVISER                              Panmure Liberum

(AIM) & BROKER
Scott Mathieson / Amrit Mahbubani / John More
                                                T: +44(0) 20 3100 2222
 PRESS ENQUIRES, GEMFIELDS HEAD OFFICE, LONDON  Helena Choudhury / Albertina Namburete

                                                helena.choudhury@gemfields.com (mailto:helena.choudhury@gemfields.com) /
                                                albertina.namburete@gemfields.com (mailto:albertina.namburete@gemfields.com)

 

 ADDITIONAL INFORMATION ON GEMFIELDS

 Gemfields is a world-leading responsible miner and marketer of coloured
 gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald
 mine in Zambia (believed to be the world's single largest producing emerald
 mine) and the Montepuez ruby mine in Mozambique (one of the most significant
 recently discovered ruby deposits in the world). In addition, Gemfields also
 holds controlling interests in various other gemstone mining and prospecting
 licences in Zambia, Mozambique, Ethiopia and Madagascar.

 Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of
 exceptional heritage - enables Gemfields to optimise positioning, perception
 and consumer awareness of coloured gemstones through Fabergé designs,
 advancing the wider group's "mine and market" vision.

 Gemfields has developed a proprietary grading system and a pioneering auction
 platform to provide a consistent supply of coloured gemstones to downstream
 markets, a key component of Gemfields' business model that has played an
 important role in the growth of the global coloured gemstone sector.

 

 

GEMFIELDS

GEMFIELDS.COM (https://gemfields.com/) (https://gemfields.com/) | INVESTORS
(https://www.gemfieldsgroup.com/) (https://www.gemfieldsgroup.com/)
|FOUNDATION (https://www.gemfieldsfoundation.org/)

INSTAGRAM (https://www.instagram.com/gemfields/)
(https://www.instagram.com/gemfields/) | FACEBOOK
(https://www.facebook.com/Gemfields/) (https://www.facebook.com/Gemfields/) |
X (https://x.com/GemfieldsLtd?lang=en) | YOUTUBE
(https://www.youtube.com/channel/UCArCE0JFtakTP-tHq6v0KVg)

 

FABERGÉ

FABERGÉ.COM (https://www.faberge.com/) | INSTAGRAM
(https://www.instagram.com/officialfaberge/)
(https://www.instagram.com/officialfaberge/) | FACEBOOK
(https://www.facebook.com/OfficialFaberge)
(https://www.facebook.com/OfficialFaberge) | X (https://x.com/OfficialFaberge)
(https://x.com/OfficialFaberge) | YOUTUBE
(https://www.youtube.com/user/officialfaberge)

 

KAGEM MINING LINKEDIN (https://www.linkedin.com/company/kagem-mining-ltd)

MONTEPUEZ RUBY MINING LINKEDIN
(https://www.linkedin.com/company/montepuez-ruby-mining)

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