Director/PDMR Shareholding

19 Feb 2009 15:49



19 February 2009

Gem Diamonds Limited

("Gem Diamonds" or the "Company")

Allotment and Issue of Ordinary Shares to a Non-Executive Director

On 19th February 2009, the Share Scheme Committee of the Board of Directors of Gem Diamonds met and formally approved the allotment and issue of a second and final tranche of 72,332 Ordinary Shares in the capital of the Company ("Ordinary Shares") to Mike Salamon, a Non-Executive Director, on the terms set out in the Prospectus published by the Company on 14 February 2007. The Ordinary Shares will be subscribed for at a nominal value of US$0.01 each.

Application has been made to the FSA and the London Stock Exchange for listing and trading of the shares as at 20 February 2009.

Enquires:

Andre Confavreux

Company Secretary 

+44 (0)20 3043 0280