Gem Diamonds Limited PDMR - Sale of Shares (2730X)
May 04 2016 - 11:19AM
UK Regulatory
TIDMGEMD
RNS Number : 2730X
Gem Diamonds Limited
04 May 2016
4 May 2016
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
Persons Discharging Managerial Responsibilities ("PDMR") - Sale of Shares
Having been given permission to deal and in accordance with DTR
3.1.3, Gem Diamonds received notification that Haile Mphusu,
Managing Director of Gem Diamonds Botswana PTY Ltd, a subsidiary of
the Company, having exercised 5,000 options of the 2007 Executive
Share Option Plan award, sold 1,250 Ordinary Shares of US$ 0.01
each, at a price of GBP1.32 on 4 May 2016 to cover tax obligations
arising therefrom. Following the sale of shares Mr Mphusu owns
3,750 Ordinary Shares of US$ 0.01 each relating to this award.
For further information:
Gem Diamonds Limited
Juliet Kirk, Assistant Company Secretary
Tel: +44 (0) 203 043 0280
Bell Pottinger
Daniel Thöle / Anna Legge
Tel: +44 (0) 203 772 2500
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.
Gem Diamonds has a growth strategy based on the expansion of the
Letšeng mine and bringing the Ghaghoo mine into production, while
maintaining its strong balance sheet. The Company seeks to maximise
revenue and margin from its rough diamond production by pursuing
cutting, polishing and sales and marketing initiatives further
along the diamond value chain. With favourable supply/demand
dynamics expected to benefit the industry over the medium to long
term, particularly at the high end of the market supplied by Gem
Diamonds, this strategy positions the Company well to generate
attractive returns for shareholders in the coming years.
www.gemdiamonds.com
This information is provided by RNS
The company news service from the London Stock Exchange
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