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16 Apr 2015 14:46
Gemfields plc
("Gemfields" or "the Company")
Director's Dealings
16 April 2015
Gemfields (AIM: GEM) announces that on 15 April 2015, the Company received notification from Devidas Shetty, a director of the Company (and Chief Operating Officer), of a dealing in the ordinary shares of Gemfields.
In March 2011, as announced at the time, four directors of the Company purchased ordinary shares on the market at 16.88 pence per share. Mr Shetty was one of the four directors, purchasing 100,000 Gemfields shares.
Mr Shetty has now sold all of the shares he purchased in March 2011. He continues to participate in the Company's Share Option Scheme.
Details of the share dealing are as follows:
Director | Date of sale of Ordinary Shares | Number of Ordinary Shares sold | Average sale price | Total number of Shares held following the share sale |
Devidas Shetty | 15 April 2015 | 100,000 | 59.75 pence per share | Nil |
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 | +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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Tavistock |
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Jos Simson/Emily Fenton | +44 (0)20 7920 3150 |
Notes to Editors:
Gemfields plc is the world's leading supplier of responsibly sourced coloured gemstones and is listed on the AIM market of the London Stock Exchange (ticker: GEM) where it is a constituent of the AIM50 index.
In July 2009, Gemfields commenced a formal auction programme for Zambian emeralds mined at the Kagem emerald mine. To date, the Company has held 18 auctions of emerald and beryl produced at Kagem and which have generated revenues totalling USD 325 million. The Company has also held 2 traded rough emerald auctions (of gemstones not obtained directly from the Company's own mining operations) which generated revenues of USD 22.0 million.
The Company also owns a 75% stake in the highly prospective Montepuez ruby deposit in Mozambique as well as licences in Madagascar including ruby, emerald and sapphire deposits. In December 2014, Gemfields held its second auction of rough ruby and corundum produced at the Montepuez ruby deposit, generating revenues of USD 43.3 million. The two ruby and corundum auctions have generated USD 76.8 million in aggregate revenues.
In addition, Gemfields holds a 50% interest in the Kariba amethyst mine in Zambia. In February 2015 Gemfields held its second auction of rough amethyst extracted from Kariba amethyst mine, generating revenues of USD 0.45 million.
Gemfields acquired the Fabergé brand in January 2013 to create a globally recognised coloured gemstone champion. Fabergé provides Gemfields with direct control over a high-end luxury goods platform and a global brand with exceptional heritage.
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