Gemfields Group Issues New Shares, Adjusts Voting Rights: Market Update

Gemfields
  • Gemfields Group Limited has issued 360,000 new ordinary shares following the exercise of share options by an employee.
  • The new ordinary shares are expected to be admitted to trading on AIM and the JSE around 19 June 2023.
  • Total voting rights will be adjusted, with 1,217,217,062 Ordinary Shares carrying the right to one vote per share.

Gemfields Group Limited recently issued an announcement regarding the issuance of new ordinary shares and an update on total voting rights. The issuance of 360,000 new ordinary shares follows the exercise of share options by an employee within the company.

The newly issued ordinary shares, with a value of USD0.00001 each, are expected to be admitted to trading on both the AIM and the JSE around 19 June 2023. This announcement is in line with AIM Rule 17, which necessitates the company’s obligation to inform its shareholders of any equity issuance. Post-admission, the total number of Ordinary Shares in circulation, including treasury shares, will amount to 1,218,946,612. Excluding treasury shares, the number of Ordinary Shares carrying the right to one vote per share will be 1,217,217,062. This figure will serve as the denominator for shareholders to calculate their voting interests and any potential changes.

Gemfields Group Limited is a company incorporated in Guernsey, registered under the Guernsey registration number 47656. Additionally, the company is registered as a South African external company with the registration number 2009/012636/10. It is listed on the JSE with the share code GML and on the AIM with the share code GEM. The ISIN number for the shares is GG00BG0KTL52, and the LEI is 21380017GAVXTCYS5R31.

Gemfields has garnered global recognition for its responsible mining practices and holds ownership of Fabergé, an esteemed and iconic brand known for its exceptional heritage. The company operates and possesses a 75% ownership interest in the Kagem emerald mine in Zambia, which stands as the largest producing emerald mine globally. Additionally, Gemfields owns the Montepuez ruby mine in Mozambique, one of the most significant recent discoveries of ruby deposits in the world. The company also maintains controlling interests in various gemstone mining and prospecting licenses located in Zambia, Mozambique, Ethiopia, and Madagascar.

To ensure a consistent supply of colored gemstones to downstream markets, Gemfields has introduced a proprietary grading system and a pioneering auction and trading platform. These initiatives have played a crucial role in fostering the growth of the global colored gemstone sector.

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