Last checked at 4 Dec 2008 11:36
| For filings with the FSA include the annex For filings with issuer exclude the annex |
| TR-1: Notifications of Major Interests in Shares |
| 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: | Gem Diamonds Ltd |
| 2. Reason for notification (yes/no) | |
| An acquisition or disposal of voting rights | Yes |
| An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | |
| An event changing the breakdown of voting rights | |
| Other (please specify):______________ | |
| 3. Full name of person(s) subject to notification obligation: | Mr. Laurence Graff and companies controlled by him. |
| 4. Full name of shareholder(s) (if different from 3): | Hanover Nominees Limited Brooks MacDonald Services Nominees Limited |
| 5. Date of transaction (and date on which the threshold is crossed or reached if different): | 3 December 2008 |
| 6. Date on which issuer notified: | 3 December 2008 |
| 7. Threshold(s) that is/are crossed or reached: | 9% |
| 8: Notified Details | |||||||
| A: Voting rights attached to shares | |||||||
| Class/type of shares If possible use ISIN code | Situation previous to the triggering transaction | Resulting situation after the triggering transaction | |||||
| Number of shares | Number of voting rights | Number of shares | Number of voting rights | Percentage of voting rights | |||
| Direct | Indirect | Direct | Indirect | ||||
| VGG379591065 Ords US$0.01 each | 5,113,930 | 5,113,930 | 6,241,343 | 6,241,343 | 9.9% | ||
| B: Financial Instruments | ||||
| Resulting situation after the triggering transaction | ||||
| Type of financial instrument | Expiration date | Exercise/ conversion period/date | No. of voting rights that may be acquired (if the instrument exercised/converted) | Percentage of voting rights |
| Total (A+B) | |
| Number of voting rights | Percentage of voting rights |
| 6,241,343 | 9.9% |
| 9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: |
| 6,196,575 shares are held by Hanover Nominees Limited. Shares are under the control of Graff Diamonds Limited, a wholly owned subsidiary of Graff Diamonds International Limited which is wholly owned by Mr. Laurence Graff 44,768 shares are held by Brooks Macdonald Services Nominees Limited as part of a pension plan controlled by Mr. Laurence Graff |
| Proxy Voting: | |
| 10. Name of proxy holder: | |
| 11. Number of voting rights proxy holder will cease to hold: | |
| 12. Date on which proxy holder will cease to hold voting rights: | |
| 13. Additional information: | |
| 14 Contact name: | Andre Confavreux, Company Secretary, Gem Diamonds Ltd |
| 15. Contact telephone number: | 0203 043 0280 |