Gem Diamonds Limited Notification of transactions by a PDMR (5702W)
April 26 2021 - 4:46AM
UK Regulatory
TIDMGEMD
RNS Number : 5702W
Gem Diamonds Limited
26 April 2021
26 April 2021
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
Notification of transactions by a PDMR
The Company announces that on 22 April 2021, Clifford Elphick,
Chief Executive Officer of the Company, exercised options (the "Nil
Cost options") to acquire 151 586 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 22 April
2021 to 23 April 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 Number of ordinary % of total ordinary
shares held shares held after shares in issue
prior to exercise exercise of options
of options and and sale of shares
sale of shares
Clifford Elphick 9,325,000* 9,325,000 6.65%
------------------- --------------------- --------------------
* 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 Initial notification
/ amendment
-------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Full name of the Gem Diamonds Limited
entity
-------------------------- ----------------------------------------
b) LEI 213800RC2PGGMZQG8L67
-------------------------- ----------------------------------------
4. Details of the transaction(s)
--------------------------------------------------------------------
a) Description of the Gem Diamonds Limited Ordinary Shares of
financial instrument USD 0.01 each ("Shares")
Identification Code 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)
0.00 151,586
-------------------------- ----------------------------------------
e) Aggregated information N/A
Aggregated volume N/A
Price
-------------------------- ----------------------------------------
f) Date of the transaction 22 April 2021
-------------------------- ----------------------------------------
g) Place of the transaction Outside a Trading venue
-------------------------- ----------------------------------------
5. Details of the transaction(s)
--------------------------------------------------------------------
a) Description of the Gem Diamonds Limited Ordinary Shares of
financial instrument USD 0.01 each
Identification Code
VGG379591065
-------------------------- ----------------------------------------
b) Nature of the transaction Sale of Shares
-------------------------- ----------------------------------------
c) Currency GBP - British Pound
-------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.6756 128,518
0.6763 23,068
-------------------------- ----------------------------------------
e) Aggregated information N/A
Aggregated volume N/A
Price
-------------------------- ----------------------------------------
f) Date of the transaction 22 April 2021; 23 April 2021
-------------------------- ----------------------------------------
g) Place of the transaction London Stock Exchange
-------------------------- ----------------------------------------
For further information:
Gem Diamonds Limited
Susan Wallace, Company Secretarial department
Tel: +44 (0) 203 043 0280
ir@gemdiamonds.com
Celicourt Communications
Mark Antelme/Ollie Mills
Tel: +44 (0) 208 434 2643
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
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END
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