Dividend Declaration

RNS Number : 1769S

Gem Diamonds Limited

15 March 2016

 

15 March 2016

Gem Diamonds Limited

DIVIDENDS

The Directors have declared the following dividends of:-

- Ordinary dividend of 5 US cents per share recommended; and

- Special dividend of 3.5 US cents per share also recommended

It is proposed by the Directors that, subject to approval by the shareholders at the 2016 AGM,  these dividends will be paid on 14 June 2016 to shareholders who are on the register of members on the record date of 13 May 2016 (ex-div date 12 May 2016).

For further information:

Gem Diamonds Limited

Juliet Kirk, Investor Relations

Tel: [phone]

Bell Pottinger

Daniel Thole / Anna Legge

Tel: [phone]

ABOUT GEM DIAMONDS:

Gem Diamonds is a leading global diamond producer of world class, high-value diamonds.The Letšeng mine is renowned for the production of large, top colour, exceptional white diamonds, making it the highest average dollar per carat kimberlite diamond mine in the world. Since Gem Diamonds acquired the Letšeng mine in 2006, it has produced four of the 20 largest white gem quality diamonds ever recorded.

Gem Diamonds has a growth strategy based on enhancing the operational efficiencies of Letšeng and developing the Ghaghoo mine, whilst maintaining its strong balance sheet. The Company seeks to maximise revenue and create additional margin from its rough diamond production through the Group's expanded sales, marketing and manufacturing capabilities. 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.

 

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