Director/PDMR Shareholding

RNS Number : 1592C

Gemfields Group Limited

07 October 2022

 

Incorporated in Guernsey. Guernsey registration Number: 47656.

South African external company registration number 2009/012636/10

Share code on JSE:GML  / AIM:GEM

  ISIN: GG00BG0KTL52  |  LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Company")

Director/PDMR and Company Secretary Shareholdings

LONDON, 7 October 2022

On 5 October 2022 the Company announced that: (i) David Lovett, a PDMR of the Company, had exercised 1,184,200 share options at an exercise price of ZAR2.97 per ordinary share of USD0.00001 each in the company ("Ordinary Share") and 7,000,000 share options at an exercise price of ZAR2.30 per Ordinary Share; (ii) Adrian Banks, a PDMR of the Company, had exercised 553,900 share options at an exercise price of ZAR2.97 per Ordinary Share and 6,000,000 share options at an exercise price of ZAR2.30 per Ordinary Share; and (iii) Toby Hewitt, the Company Secretary of the Company, had exercised 191,000 share options at an exercise price of ZAR2.97 per Ordinary Share and 1,500,000 share options at an exercise price of ZAR2.30 per Ordinary Share.

In accordance with AIM Rule 17, shareholders are advised that Gemfields has received notice that Mr Lovett, Mr Banks and Mr Hewitt have sold in aggregate 15,029,100 Ordinary Shares at a price of GBP£0.18 pence (equivalent to ZAR3.60) per Ordinary Share to Assore International Holdings Limited ("AIHL"). Following the above transaction, Mr Lovett owns 1,442,000 Ordinary Shares, representing 0.12 per cent of the Company, Mr Banks owns 11,888 Ordinary Shares, representing 0.00 per cent of the Company (a slight increase from that notified in the announcement made on 5 October 2022), and Mr Hewitt own no Ordinary Shares.  

Patrick Sacco and Kieran Daly are Non-Executive Director and Alternate Non-Executive Director of the Company, respectively. Mr Sacco is also Managing Director of, and holds a beneficial interest in, AIHL, and Mr Daly is also a Non-Executive Director of AIHL. As noted at the time of his appointment, Mr Sacco is therefore deemed to have a beneficial interest in AIHL's entire legal holding in Gemfields.

Following the purchase of the 15,029,100 Ordinary Shares as detailed above, as well as 1,578,280 Ordinary Shares held by other non-PDMR option-holders, AIHL holds (and consequently Mr Sacco is deemed to have a beneficial interest in) 328,147,940 Ordinary Shares, representing 27.23 per cent. of the Company's voting rights.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Lovett
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gemfields Group Limited
b)	LEI	21380017GAVXTCYS5R31
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of USD0.00001 each
	Identification code	ISIN: GG00BG0KTL52
b)	Nature of the transaction	Sale of Ordinary Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R3.60 (or GBP £0.18)	6,784,200
d)	Aggregated information
	- Aggregated volume	6,784,200 (noting that 1,400,000 shares have been retained by David Lovett)
	- Price	R3.60 (or GBP £0.18)
e)	Date of the transaction	6 October 2022
f)	Place of the transaction	London Stock Exchange

In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, we disclose the following additional information:

Nature of transaction	Off market sale of shares
Total value of transaction	R 24,423,120 (not net of the total exercise costs of the options)
Nature of interest Clearance obtained	Direct Beneficial Yes

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Adrian Banks
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gemfields Group Limited
b)	LEI	21380017GAVXTCYS5R31
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of USD0.00001 each
	Identification code	ISIN: GG00BG0KTL52
b)	Nature of the transaction	Sale of Ordinary Shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R3.60 (or GBP £0.18)	6,553,900
d)	Aggregated information
	- Aggregated volume	6,553,900
	- Price	R3.60 (or GBP £0.18)
e)	Date of the transaction	6 October 2022
f)	Place of the transaction	London Stock Exchange

In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, we disclose the following additional information:

Nature of transaction	Off market sale of shares
Total value of transaction	R 23,594,040  (not net of the total exercise costs of the options)
Nature of interest Clearance obtained	Direct Beneficial Yes

Notification of a Transaction in terms of the JSE Listings Requirements

Name		Toby Hewitt
Position		Company Secretary and General Counsel
Nature of the transaction		Off market sale of Ordinary Shares
Price(s) and volume(s)
		Price(s)	Volume(s)
		ZAR2.97	191,000
		ZAR2.30	1,500,000
Total value of transaction		R6,087,600
Date of the transaction		6 October 2022
Clearance obtained		Yes
Nature of interest		Direct Beneficial
Place of the transaction		London Stock Exchange

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Patrick Sacco
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gemfields Group Limited
b)	LEI	21380017GAVXTCYS5R31
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of USD0.00001 each
	Identification code	ISIN: GG00BG0KTL52
b)	Nature of the transaction	Purchase of Ordinary Shares by Assore International Holdings Limited ("AIHL"). Mr Sacco is Managing Director of, and holds a beneficial interest in, AIHL. Mr Sacco is therefore deemed to have a beneficial interest in AIHL's entire legal holding in Gemfields.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R3.60 (or GBP£0.18)	16,607,380
d)	Aggregated information
	- Aggregated volume	16,607,380
	- Price	R3.60 (or GBP£0.18)
e)	Date of the transaction	6 October 2022
f)	Place of the transaction	London Stock Exchange

-ENDS-

Further information on Gemfields Group Limited can be found at:

  GEMFIELDSGROUP.COM

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ENQUIRIES

GEMFIELDS	Sean Gilbertson / David Lovett T:  [phone]
SPONSOR (JSE)	Investec Bank Limited
SEDIBELO SALE PROCESS	Liberum Scott Mathieson T: [phone]
NOMINATED ADVISER (AIM) & JOINT BROKER	finnCap Christopher Raggett / Tim Redfern / Edward Whiley T: [phone]
JOINT BROKER	Liberum Scott Mathieson / Kane Collings T: [phone]
FINANCIAL PR/ IR	Camarco Gordon Poole / Emily Hall T: [phone]

ADDITIONAL INFORMATION ON GEMFIELDS

Gemfields is a world-leading miner of responsible coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia and Madagascar.

Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage - enables Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones through Fabergé designs, advancing the wider group's "mine and market" vision.

Gemfields has developed a proprietary grading system and a pioneering auction and trading platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields' business model that has played an important role in the growth of the global coloured gemstone sector.

GEMFIELDS

GEMFIELDS.COM | INVESTORS | FOUNDATION

INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE

FABERGÉ

FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE

KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN

 

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