Last checked at 22 Apr 2009 08:38
22 April 2009
Gem Diamonds Limited
("Gem Diamonds" or the "Company")
Gem Diamonds (LSE:GEM) announces that following the publication of the Prospectus and the Circular dated 3 April 2009 in connection with the Placing of 75,000,000 new ordinary shares of US$ 0.01 each in the capital of the Company (the "New Shares") and the approval of the Placing at the General Meeting held on 20 April 2009, the Board resolved on 21 April 2009 to allot and issue, subject to admission of the New Shares to the Official List of the Financial Services Authority and admission of such shares to trading on the London Stock Exchange's main market for listed securities ("Admission"), the New Shares in connection with the Placing. Admission occurred at 8.00 a.m. on 22 April 2009.
As outlined in the Prospectus, the Directors of the Company participated in the Placing as follows:
| Holding prior to Admission | % of issued share capital | Holding following Admission | % of issued share capital | |
| Roger Davis | 578,652 | 0.92 | 1,267,752 | 0.92 |
| Clifford Elphick* | 9,325,000 | 14.81 | 9,325,000 | 6.76 |
| Alan Ashworth | 10,000 | 0.02 | 21,900 | 0.02 |
| Kevin Burford | 458,333 | 0.73 | 458,333 | 0.33 |
| Glenn Turner | 600,000 | 0.95 | 600,000 | 0.43 |
| Miklos Salamon | 144,664 | 0.23 | 316,944 | 0.23 |
| Gavin Beevers | 148,164 | 0.24 | 188,164 | 0.14 |
| Dave Elzas | 144,664 | 0.23 | 144,664 | 0.10 |
| Lord Renwick | NIL | NIL | 60,000 | 0.04 |
| Richard Williams | NIL | NIL | 20,000 | 0.01 |
* Clifford Elphick is interested in these ordinary shares by virtue of his interest as a potential beneficiary in a discretionary trust which has an indirect interest in those ordinary shares.
The Company advises that its issued share capital now comprises 137,977,853 Ordinary Shares. The voting rights of these Shares are identical, with each Share carrying the right to one vote. The Company holds no Ordinary Shares in Treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company.
For further information, please contact:
Gem Diamonds Limited
Richard Chetwode, Investor Relations Manager Tel: +44 (0)20 3042 0280
André Confavreux, Company Secretary
Pelham PR
Candice Sgroi Tel: +44 (0)20 7337 1533
J.P. Morgan Cazenove
Patrick Magee/Neil Passmore Tel: +44 (0)20 7588 2828