Last checked at 4 Jul 2022 13:25
4 July 2022
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
Notification of transactions by a PDMR
This announcement is made in addition to the PDMR notification released on 28 June 2022 under RNS number 4919Q.
The Company announced on 28 June 2022 that Clifford Elphick, Chief Executive Officer of the Company, had exercised options (the "Nil Cost options") to acquire 150,725 ordinary shares of US$ 0.01 each in the Company (the "Option Shares"). The Nil Cost options were issued pursuant to the Gem Diamonds Employee Share Option Plan 2017; and during the period 23 June 2022 to 27 June 2022, Mr Elphick sold 109,382 Option Shares in order to realise the value allocated to him under his remuneration package.
The Company further announces that on 1 July 2022, Clifford Elphick sold the remaining 41,343 Option Shares, which were acquired on 23 June 2022. Mr Elphick's exercise of the Nil Cost options and subsequent sale of the Option Shares will have no net effect on the number ordinary shares in the Company held by him prior to exercise of the Nil Cost options. Mr Elphick's founder shareholding remains at the same level as it was prior to the exercise of the Nil Cost options, as demonstrated in the below table.
Name of Director/PDMR | Number of ordinary shares held prior to exercise of options and sale of shares | Number of ordinary shares held after exercise of options and sale of shares | % of total ordinary shares in issue |
Clifford Elphick | 9,325,000* | 9,325,000 | 6.69% |
* C 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 these ordinary shares.
The following disclosure is made in accordance with Article 19 of the UK Market Abuse Regulations.
1. | Details of PDMR | |||||
a) | Name | Clifford Elphick | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chief Executive Officer | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Full name of the entity | Gem Diamonds Limited | ||||
b) | LEI | 213800RC2PGGMZQG8L67 | ||||
4. | Details of the transaction(s) | |||||
a) | Description of the financial instrument
Identification Code | Gem Diamonds Limited Ordinary Shares of USD 0.01 each
VGG379591065 | ||||
b) | Nature of the transaction | Sale of Shares | ||||
c) | Currency | GBP - British Pound | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information
Aggregated volume
Price |
N/A
N/A
| ||||
f) | Date of the transaction | 1 July 2022 | ||||
g) | Place of the transaction | London Stock Exchange | ||||
For further information:
Gem Diamonds LimitedSusan Wallace, Company Secretarial department
Tel: +44 (0) 203 043 0280
ir@gemdiamonds.com
Celicourt Communications
Mark Antelme/ Felicity Winkles
Tel: +44 (0) 208 434 2643
About Gem Diamonds:
Gem Diamonds is a leading global diamond producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. www.gemdiamonds.com