EDL.L Regulatory News (EDL)

21 Jul 2009 12:00

gemstones of africa group plc

("GOA" or the "Company" OR THE "group")

Directorate Change

Gemstones of Africa Plc (AIM: GOA), announces that David Hargreaves and Nick Eastwood have stepped down from the Board in order to pursue other interests.

Simon Rollason, Chairman, commented:

"The Board would like to thank David and Nick for their contribution and commitment since joining the Company. We wish them every success in the future. Rakesh Patel will now assume the Executive role.

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For further information please contact:

Gemstones of Africa Group Plc  Tel. 020 7099 1940 

Simon Rollason, Non-Executive Chairman 

Daniel Stewart & Company plc  Tel. 020 7776 6550

Stewart Dick /Simon Leathers 

Notes: 

Gemstones of Africa Group Plc. is the holding company of a mineral exploration and development group focusing on gemstone opportunities in Africa. The Group is led by a management team which has international experience of Gemstones and Mining in emerging markets worldwide. The Group's objective is to enter into joint ventures on a number of projects in East Africa and, ultimately, to increase the value of its assets through the development of these resources and where appropriate, commence production of these economically feasible assets.

The Group's strategy will focus on working with local partners to promote a 'mine-to-market' philosophy and develop fair trade principles. It is proposed to produce raw gemstones, undertake the cutting and market the finished quality gems to realise the full value of the assets. The Directors will utilise both internal and external expertise to develop the Mineral Assets and ensure that all gemstones are produced and marketed according to these fair trade principles.