Gem Diamonds Di Regulatory News (GEMD)

17 Aug 2007 14:42

Gem Diamonds Limited17 August 2007 The information contained herein is restricted and is not for publication,release or distribution, directly or indirectly, in or into the United States,Canada or Japan or to residents or citizens of Canada or Japan. GEM DIAMONDS LIMITED Gem Diamonds Limited subsidiary, Gem Diamonds Australia PTY Limited, publishes Bidder's Statement in relation to its offer for Kimberley Diamond Company NL Gem Diamonds Australia PTY Limited ("Gem Diamonds Australia"), a wholly ownedsubsidiary of Gem Diamonds Limited ("Gem Diamonds"), today published a Bidder'sStatement in relation to its offer (the "Offer") for Kimberley Diamonds CompanyNL ("Kimberley") on the Australian Stock Exchange. The Bidder's Statement setsout the conditions and timetable to which the Offer is subject. It will bedistributed to Kimberley shareholders along with Kimberley's Target Statementwhich outlines Kimberley's Directors' reasons for their unanimous recommendationthat Kimberley shareholders accept the Offer. Due to the transaction being classified as class 1 for Gem Diamonds under the UKListing Rules, the Offer is subject to the approval of Gem Diamonds'shareholders in general meeting. In this regard a circular to Gem Diamonds'shareholders will be distributed in due course and the requisite ExtraordinaryGeneral Meeting of Gem Diamonds shareholders to approve the Offer is expected tobe convened in late October 2007. A copy of the Bidder's Statement is available on Gem Diamond's websitewww.gemdiamonds.com. Enquiries: Gem Diamond Technical Services (Pty) LtdStephen Wetherall +27 82 418 8735Angela Parr +27 83 578 3885 Kimberley Diamond Company NLMiles Kennedy, Karl Simich or Arran Gracie +61 8 9321 5887 Pelham PR(Public Relations Adviser to Gem Diamonds Limited)Candice Sgroi +44 207 743 6376 +44 7894 462 114 Read Corporate (incorporating Jan Hope & Partners)(Public Relations Advisers to Kimberley Diamond Company NL)Nicholas Read +61 8 9388 1474 +61 419 929 046Gresham Advisory Partners Limited(Financial Adviser to Gem Diamonds Limited)Michael Ashforth +61 8 9486 7077 JPMorgan Cazenove(Corporate Broker to Gem Diamonds Limited)Ian Hannam +44 207 588 2828Neil Passmore Argonaut and CIBC World Markets(Joint Financial Advisers to Kimberley Diamond Company NL)Charles Fear (Argonaut) +61 8 9224 6888Neil Johnson (CIBC World Markets) +61 2 9275 1306 This information is provided by RNS The company news service from the London Stock Exchange