Appointment of Joint Broker

RNS Number : 1278I

Gem Diamonds Limited

07 December 2015

 

7  December 2015

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Appointment of Joint Broker

Gem Diamonds Limited (LSE: GEMD) is pleased to announce the appointment of Panmure Gordon (UK) Limited as Joint Broker to the Company with immediate effect. Liberum Capital Limited and JP Morgan Cazenove will continue to act as joint brokers.

For further information:

Gem Diamonds Limited

Sherryn Tedder / Glenn Turner

Tel: [phone]

Bell Pottinger

Daniel Thole / Anna Legge

Tel :[phone]

JP Morgan Cazenove

Jamie Riddell

Tel: [phone]

Liberum Capital Limited

Richard Crawley

Tel: [phone] 

Panmure Gordon (UK) Limited

Adam James

Tel: [phone]

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 twenty largest white gem quality diamonds ever recorded.

Gem Diamonds has a growth strategy based on the expansion of the Letšeng mine and bringing the Ghaghoo mine into production, while maintaining its strong balance sheet. The Company seeks to maximise revenue and margin from its rough diamond production by pursuing cutting, polishing and sales and marketing initiatives further along the diamond value chain. With favourable supply/demand dynamics expected to benefit the industry over the medium to long term, particularly at the high end of the market supplied by Gem Diamonds, this strategy positions the Company well to generate attractive returns for shareholders in the coming years.

www.gemdiamonds.com

 

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