Gem Diamonds Limited Exercise of Options (5251I)
August 31 2016 - 3:36AM
UK Regulatory
TIDMGEMD
RNS Number : 5251I
Gem Diamonds Limited
31 August 2016
31 August 2016
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
Exercise of Options
On 30 August 2016 Gem Diamonds received notification that a
former employee having exercised 8,968 options awarded to him in
the Gem Diamonds Long Term Incentive Plan 2007, sold all the
Ordinary Shares of US$ 0.01 each, at a price of GBP1.245. Following
the sale of shares, the former employee no longer holds any
Ordinary Shares relating to this award.
As a result of this exercise of options, the Company's issued
share capital will be 138,321,884 Ordinary Shares of US$ 0.01 each,
all with voting rights.
The above figure (138,321,884) may be used by shareholders as
the denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
For further information:
Gem Diamonds Limited
Juliet Kirk, Assistant to the Company Secretary
Tel: +44 (0) 203 043 0280
Celicourt Communications
Joanna Boon/Mark Antelme
Tel: +44 (0) 207 520 9261
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
100% of the Ghaghoo mine in Botswana. The Letšeng mine is famous
for the production of large, top colour, exceptional white
diamonds, making it the highest dollar per carat kimberlite diamond
mine in the world.
Gem Diamonds has a growth strategy based on the expansion of the
Letšeng mine and bringing the Ghaghoo mine into production, while
maintaining its strong balance sheet. The Company seeks to maximise
revenue and margin from its rough diamond production by pursuing
cutting, polishing and sales and marketing initiatives further
along the diamond value chain. 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.
www.gemdiamonds.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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