Block listing application

15 June 2020

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

 Block listing application

Gem Diamonds, LSE: GEMD announces that it has made applications to The Financial Conduct Authority and The London Stock Exchange for a block listing of 450,000 ordinary shares of $0.01 each in the Company. These shares, when issued pursuant to the Company's obligations under the Gem Diamonds Employee Share Plan 2017, shall rank equally with the existing issued shares of the Company and will be admitted to the Official List and to trading on the main market of The London Stock Exchange. It is expected that admission will become effective on or around 18 June 2020.

The application for the block listing is being made to satisfy options granted under the Gem Diamonds Employee Share Plan 2017.

The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67.

For further information, please contact:

Gem Diamonds LimitedSusan Wallace, Company Secretarial department

Tel: +44(0) 203 043 0280

ir@gemdiamonds.com

Celicourt Communications

Mark Antelme/Ollie Mills

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 and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. www.gemdiamonds.com