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Gemfields Announces Exercise of Share Options by Employees and PDMR, Followed by Sale Instruction

Gemfields
  • Gemfields Group Limited has exercised 1,800,000 share options at an exercise price of ZAR2.30 per Ordinary Share on behalf of Chandana Venkata Suresh, a person discharging managerial responsibilities (PDMR).
  • Following the exercise of share options, Chandana Venkata Suresh will hold a beneficial stake of 1,895,600 Ordinary Shares, equivalent to 0.15 percent of the company.
  • Gemfields has been instructed by Chandana Venkata Suresh to sell the newly exercised Ordinary Shares, with further announcements to be made upon completion of the sale.

London, May 12, 2023 – Gemfields Group Limited (LSE: GEM, JSE: GML), a prominent supplier of ethically sourced colored gemstones, has released an official statement in accordance with AIM Rule 17, notifying shareholders of recent developments regarding the exercise of share options by group employees and Chandana Venkata Suresh, a person discharging managerial responsibilities (PDMR).

Chandana Venkata Suresh, a PDMR within the company, has exercised a total of 1,800,000 share options at an exercise price of ZAR2.30 per Ordinary Share. This exercise of share options will result in Chandana Venkata Suresh acquiring a beneficial holding in 1,895,600 Ordinary Shares, which corresponds to approximately 0.15 percent of the Company.

Gemfields has been instructed by Chandana Venkata Suresh to proceed with the sale of the newly exercised Ordinary Shares. The completion of the sale involving the 1,800,000 Ordinary Shares will be announced in due course.

Applications have already been submitted for the admission of the 3,282,064 new Ordinary Shares to trading on AIM (Alternative Investment Market) and the JSE (Johannesburg Stock Exchange). It is expected that the admission process will be finalized on or around May 15, 2023.

Following the successful admission of these new shares, the total number of Ordinary Shares in circulation will reach 1,218,586,612. Each of these Ordinary Shares carries the right to cast one vote. This figure represents the total voting rights that shareholders may utilize to calculate whether they are required to report any changes in their ownership interests within the Company.

Furthermore, Gemfields Group Limited has dutifully notified the relevant authorities of this transaction, in accordance with Article 19(1) of Regulation (EU) No. 596/2014.

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