Gem Diamonds Limited Sale of Shares (2277A)
June 03 2016 - 11:24AM
UK Regulatory
TIDMGEMD
RNS Number : 2277A
Gem Diamonds Limited
03 June 2016
Gem Diamonds Limited
3 June 2016
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
Persons Discharging Managerial Responsibilities ("PDMR") - Sale of Shares
A Allan, an employee of a subsidiary of the Company, who has
recently resigned and is currently serving out notice, has been
given permission to deal in accordance with DTR 3.1.3 (still being
considered a PDMR). Gem Diamonds received notification that the
employee, having exercised 16,456 options awarded to him in the Gem
Diamonds Long Term Incentive Plan 2007, sold all the Ordinary
Shares of US$ 0.01 each, at a price of GBP1.32 on 3 June 2016.
Following the sale of shares the employee no longer holds any
Ordinary Shares relating to this award.
As a result of this exercise of options, the Company's issued
share capital will be 138,312,916 Ordinary Shares of US$ 0.01 each,
all with voting rights.
The above figure (138,312,916) 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 and
Transparency Rules.
For further information:
Gem Diamonds Limited
Juliet Kirk, Assistant to the 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
END
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