Notification of transactions by a PDMR

RNS Number : 2347R

Gem Diamonds Limited

04 July 2022

 

4 July 2022

GEM DIAMONDS LIMITED 

("Gem Diamonds" or the "Company") 

Notification of transactions by a PDMR

This announcement is made in addition to the PDMR notification released on 28 June 2022 under RNS number 4919Q.

The Company  announced on 28 June 2022 that Clifford Elphick, Chief Executive Officer of the Company, had exercised options (the "Nil Cost options") to acquire 150,725 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 Plan 2017; and during the period 23 June 2022 to 27 June 2022, Mr Elphick sold 109,382 Option Shares in order to realise the value allocated to him under his remuneration package.

The Company further announces that on 1 July 2022, Clifford Elphick sold the remaining 41,343 Option Shares, which were acquired on 23 June 2022. Mr Elphick's exercise of the Nil Cost options and subsequent sale of the Option Shares will have 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, as demonstrated in the below table.

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	6.69%

* 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 VGG379591065
b)	Nature of the transaction	Sale of Shares
c)	Currency	GBP - British Pound
d)	Price(s) and volume(s)	Price(s) Volume(s) 0.43 41,343
e)	Aggregated information Aggregated volume Price	N/A N/A
f)	Date of the transaction	1 July 2022
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/ Felicity Winkles

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. 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

 

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