Notification of transactions by a PDMR

RNS Number : 1911O

Gem Diamonds Limited

05 February 2021

 

5 February 2021

GEM DIAMONDS LIMITED 

("Gem Diamonds" or the "Company") 

Notification of transactions by a PDMR

The Company announces that on 3 February 2021, Clifford Elphick, Chief Executive Officer of the Company, exercised options (the "Nil Cost options") to acquire 225 364 ordinary shares of US$ 0.01 each in the Company (the "Option Shares"). The Nil Cost options were issued pursuant to the Gem Diamonds Employee Share Option Plans 2007 and 2017.

The Company further announces that during the period 3 February 2021 to 4 February 2021, Mr Elphick sold the Option Shares in order to realise the value allocated to him under his remuneration package. As further detailed in the table below, Mr Elphick's exercise of the Nil Cost options and subsequent sale of the Option Shares has had no net effect on the number ordinary shares in the Company held by him prior to exercise of the Nil Cost options. Mr Elphick's founder shareholding remains at the same level as it was prior to the exercise of the Nil Cost options.

Name of Director/PDMR	Number of ordinary shares held prior to exercise of options and sale of shares	Number of ordinary shares held after exercise of options and sale of shares	% of total ordinary shares in issue
Clifford Elphick	9,325,000*	9,325,000	6.68%

* C Elphick is interested in these ordinary shares by virtue of his interest as a potential beneficiary in a discretionary trust which has an indirect interest in these ordinary shares.

The following disclosure is made in accordance with Article 19 of the UK Market Abuse Regulations.

1.	Details of PDMR
a)	Name	Clifford Elphick
2.	Reason for the notification
a)	Position / status	Chief Executive Officer
b)	Initial notification / amendment	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
b)	LEI	213800RC2PGGMZQG8L67
4.	Details of the transaction(s)
a)	Description of the financial instrument Identification Code	Gem Diamonds Limited Ordinary Shares of USD 0.01 each ("Shares") VGG379591065
b)	Nature of the transaction	Exercise of Nil Cost share options
c)	Currency	GBP - British Pound
d)	Price(s) and volume(s)	Price(s) Volume(s) 0.00 225,364
e)	Aggregated information Aggregated volume Price	N/A N/A
f)	Date of the transaction	3 February 2021
g)	Place of the transaction	Outside a Trading venue
5.	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	Sale of Shares
c)	Currency	GBP - British Pound
d)	Price(s) and volume(s)	Price(s) Volume(s) 0.4692 0.4637 120,323 105,041
e)	Aggregated information Aggregated volume Price	N/A N/A
f)	Date of the transaction	3 February 2021; 4 February 2021
g)	Place of the transaction	London Stock Exchange

 For further information:

Gem Diamonds Limited
Susan Wallace, Company Secretarial department

Tel: [phone]

[e-mail]

Celicourt Communications

Mark Antelme/Ollie Mills

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 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, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. www.gemdiamonds.com

 

END

 

 

DSHUPUQPPUPGGPA