Notification of transactions by a PDMR

RNS Number : 4919Q

Gem Diamonds Limited

28 June 2022

 

28 June 2022

GEM DIAMONDS LIMITED 

("Gem Diamonds" or the "Company") 

Notification of transactions by a PDMR

The Company announces that on 23 June 2022, Clifford Elphick, Chief Executive Officer of the Company, 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.

The Company further announces that 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 remainder of the Option Shares are in the process of being sold and a further notification in this regard will follow once the sale has been finalised. 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 will remain at the same level as it was prior to the exercise of the Nil Cost options once the remainder of the Option Shares acquired have been sold, 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 ("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) 0.00 150,725
e)	Aggregated information Aggregated volume Price	N/A N/A
f)	Date of the transaction	23 June 2022
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) 0.4644 0.4614 65,595 39,787
e)	Aggregated information Aggregated volume Price	N/A N/A
f)	Date of the transaction	24 June 2022; 27 June 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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