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Gem Diamonds Limited

Gem Diamonds Limited - Notification of transactions by a PDMR

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 shares held prior to exercise of options and sale of shares

Number of ordinary shares held after exercise of options and sale of shares

% of total ordinary shares in issue

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 / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Full name of the entity

Gem Diamonds Limited

b)

LEI

213800RC2PGGMZQG8L67

4.

Details of the transaction(s)

a)

Description of the financial instrument

 

Identification Code

Gem Diamonds Limited Ordinary Shares of USD 0.01 each ("Shares")

 

 

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

 

Aggregated volume

 

Price

 

 

N/A

 

N/A

 

 

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 financial instrument

 

Identification Code

Gem Diamonds Limited Ordinary Shares of USD 0.01 each

 

 

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

0.6763

128,518

23,068


 

e)

Aggregated information

 

Aggregated volume

 

Price

 

 

N/A

 

N/A

 

 

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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