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IN BRIEF: Gemfields completes USD10 million share buyback programme

Mon, 23rd Oct 2023 10:14

Gemfields Group Ltd - gemstones producer in Mozambique and Zambia and owner of luxury brand Faberge - Completes USD10 million share buyback programme on Friday, having purchased 58.4 million shares in total at an average price of ZAR3.17 per share. This represents 4.8% of total shares prior to the start of the buyback and is worth ZAR185.4 million in total, about USD9.7 million. Gemfields now holds 55.7 million shares in treasury, and all of these will be cancelled.

Current stock price in Johannesburg: ZAR3.15

12-month change: down 4.0%

Current stock price in London: 13.30 pence

12-month change: down 13%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

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