NOTIFICATIONS OF TRANSACTIONS BY A PDMRBack
The Company received notification on 14 June 2017 that Mr Jeffrey Leaver, a PDMR, had exercised options over 10 484 shares of US$ 0.01 each. The Nil Cost options were issued pursuant to the Gem Diamonds Long Term Incentive Plan 2007. Mr Leaver did not sell any shares pursuant to the exercise.
Mr Leaver now holds 10 484 shares (0.01%).
As a result of this exercise of options, the Company's issued share capital is 138 530 097 Ordinary Shares of US$ 0.01 each, all with voting rights.
The above figure (138 530 097) may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notification is set out below.
|1.||Details of PDMR / person closely associated (PCA)|
|2.||Reason for the notification|
|a)||Position / status||Acting CEO - Letšeng Diamonds (PDMR)|
|b)||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|
|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||Exercise of Nil Cost share options|
|c)||Currency||GBP - British Pound|
|d)||Price(s) and volume(s)||
|e)||Aggregated information Aggregated volume
|10 484 GBP9 881|
|f)||Date of the transaction||14 June 2017|
|g)||Place of the transaction||London Stock Exchange - XLON|
For further information:
Susan Wallace, Company Secretarial department
Tel: +44 (0) 203 043 0280
Mark Antelme / Joanna Boon
Tel: +44 (0) 207 520 9261
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 100% 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. Since Gem Diamonds' acquisition of Letšeng in 2006, the mine has produced four of the 20 largest white gem quality diamonds ever recorded. The Ghaghoo mine in Botswana has been placed on care and maintenance until market conditions allow for recommencement of production.