TIDMGEMD

RNS Number : 1243D

Gem Diamonds Limited

24 April 2017

24 April 2017

GEM DIAMONDS LIMITED

("Gem Diamonds" or the "Company")

Notifications of transactions by a PDMR

Gem Diamonds (LSE: GEMD) received notification on 21 April 2017 that Mr Brandon de Bruin had exercised options over 40,354 shares of US$ 0.01 each. The Nil Cost options were issued pursuant to the Gem Diamond Long Term Incentive Plan 2007. Mr de Bruin sold 20,000 shares, at a price of GBP0.87 per share to cover tax costs.

Mr de Bruin now holds 20 354 shares (0.01%).

As a result of this exercise of options, the Company's issued share capital is 138,479,653 Ordinary Shares of US$ 0.01 each, all with voting rights.

The above figure (138,479,653) may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notifications are set out below.

 
  1.   Details of PDMR / person closely associated 
        (PCA) 
----  ------------------------------------------------------------- 
 a)    Name                     Brandon de Bruin 
----  -----------------------  ------------------------------------ 
 2.    Reason for the notification 
----  ------------------------------------------------------------- 
 a)    Position / status        Group Sales and Marketing Executive 
                                 - Gem Diamonds Technical Services 
                                 (Pty) Ltd (PDMR) 
----  -----------------------  ------------------------------------ 
 b)    Initial notification     Initial notification 
        / amendment 
----  -----------------------  ------------------------------------ 
 3.    Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  ------------------------------------------------------------- 
 a)    Full name of             Gem Diamonds Limited 
        the entity 
----  -----------------------  ------------------------------------ 
 b)    LEI                      213800RC2PGGMZQG8L67 
----  -----------------------  ------------------------------------ 
 4.    Details of the transaction(s) 
----  ------------------------------------------------------------- 
 a)    Description              Gem Diamonds Limited Ordinary 
        of the financial         Shares of USD 0.01 each 
        instrument               VGG379591065 
        Identification 
        Code 
----  -----------------------  ------------------------------------ 
 b)    Nature of the            Exercise of Nil Cost share options 
        transaction 
----  -----------------------  ------------------------------------ 
 c)    Currency                 GBP - British Pound 
----  -----------------------  ------------------------------------ 
 d)    Price(s) and              Price(s)    Volume(s) 
        volume(s)                ----------  ---------- 
                                  GBP0.88     40,354 
                                 ----------  ---------- 
----  -----------------------  ------------------------------------ 
 e)    Aggregated information    40,354 
        Aggregated volume         GBP35 612.41 
        Price 
----  -----------------------  ------------------------------------ 
 f)    Date of the              21 April 2017 
        transaction 
----  -----------------------  ------------------------------------ 
 g)    Place of the             London Stock Exchange - XLON 
        transaction 
----  -----------------------  ------------------------------------ 
 
 
  1.   Details of PDMR / person closely associated 
        (PCA) 
----  ------------------------------------------------------------- 
 a)    Name                     Brandon de Bruin 
----  -----------------------  ------------------------------------ 
 2.    Reason for the notification 
----  ------------------------------------------------------------- 
 a)    Position / status        Group Sales and Marketing Executive 
                                 - Gem Diamonds Technical Services 
                                 (Pty) Ltd (PDMR) 
----  -----------------------  ------------------------------------ 
 b)    Initial notification     Initial notification 
        / amendment 
----  -----------------------  ------------------------------------ 
 3.    Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  ------------------------------------------------------------- 
 a)    Full name of             Gem Diamonds Limited 
        the entity 
----  -----------------------  ------------------------------------ 
 b)    LEI                      213800RC2PGGMZQG8L67 
----  -----------------------  ------------------------------------ 
 4.    Details of the transaction(s) 
----  ------------------------------------------------------------- 
 a)    Description              Gem Diamonds Limited Ordinary 
        of the financial         Shares of USD 0.01 each 
        instrument               VGG379591065 
        Identification 
        Code 
----  -----------------------  ------------------------------------ 
 b)    Nature of the            Sale of shares 
        transaction 
----  -----------------------  ------------------------------------ 
 c)    Currency                 GBP - British Pound 
----  -----------------------  ------------------------------------ 
 d)    Price(s) and              Price(s)    Volume(s) 
        volume(s)                ----------  ---------- 
                                  GBP0.87     20,000 
                                 ----------  ---------- 
----  -----------------------  ------------------------------------ 
 e)    Aggregated information    20,000 
        Aggregated volume         GBP17,346.76 
        Price 
----  -----------------------  ------------------------------------ 
 f)    Date of the              21 April 2017 
        transaction 
----  -----------------------  ------------------------------------ 
 g)    Place of the             London Stock Exchange - XLON 
        transaction 
----  -----------------------  ------------------------------------

For further information:

Gem Diamonds Limited

Susan Wallace, Company Secretarial department

Tel: +44 (0) 203 043 0280

ir@gemdiamonds.com

Celicourt Communications

Joanna Boon/Mark Antelme

Tel: +44 (0) 207 520 9261

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 and 100% of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. Since Gem Diamonds' acquisition of Letšeng in 2006, the mine has produced four of the 20 largest white gem quality diamonds ever recorded. The Ghaghoo mine in Botswana has been placed on care and maintenance until market conditions allow for recommencement of production. www.gemdiamonds.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 24, 2017 06:23 ET (10:23 GMT)

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