Last checked at 18 Oct 2016 15:46
Gemfields plc
("Gemfields" or "the Company")
Changes to Board of Directors
18 October 2016
Gemfields plc announces the resignation of COO, Devidas Shetty, who will leave the Gemfields Group and step down from the board of directors on Monday the 31st October 2016 to pursue new opportunities outside of the business. Janet Boyce, CFO, will join the board on that date subject to completion of standard director due diligence.
Ian Harebottle, CEO, said:
"Dev joined Gemfields as CFO in January 2010, becoming COO in September 2012. He has made a tremendous contribution to the growth and development of Gemfields and we wish him every success for the future. His responsibilities will be re-allocated internally.
I am delighted that Janet Boyce, who joined Gemfields as CFO in August 2013 will join the board in her existing capacity as CFO on the 1st November 2016. "
ENQUIRIES:
Gemfields | jj.williams@gemfields.co.uk |
JJ Williams, Company Secretary | +44 (0)20 7659 4965 |
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Grant Thornton UK LLP |
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Nominated Adviser |
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Philip Secrett/Richard Tonthat/Jamie Barklem | +44 (0)20 7383 5100 |
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J.P. Morgan Cazenove |
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Joint Broker |
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Jamie Riddell / James Deal | +44 (0)20 7742 4000 |
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BMO Capital Markets Limited |
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Joint Broker |
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Jeff Couch/Neil Haycock/Tom Rider/Jenny Wyllie | +44 (0)20 7236 1010 |
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Macquarie Capital (Europe) Limited Joint Broker Raj Khatri/Nick Stamp/Guy de Freitas |
+44 (0)20 3037 2000 |
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Tavistock |
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Jos Simson/Emily Fenton/Barnaby Hayward | +44 (0)20 7920 3150 |
Notes to Editors:
Gemfields plc is the world's leading supplier of responsibly sourced coloured gemstones and is quoted on the AIM division of the London Stock Exchange (ticker: GEM) where it is a constituent of the AIM50 index.
Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition Gemfields also holds a 50% interest in the Kariba amethyst mine in Zambia, as well as controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Colombia, Ethiopia, Madagascar and Sri Lanka.
Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage - enables Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones, advancing the wider group's "mine and market" vision.
Gemfields has developed a proprietary grading system and a pioneering auction and trading platform to provide a consistent supply of quality coloured gemstones to the global downstream markets. This is a key component of the Company's business model which the Directors believe has played an important role in the appropriate distribution and associated resurgence of the global coloured gemstone sector.
www.gemfields.co.uk