Gemfields PLC (LON:GEM) said its main directors have bought shares in the company last week at a price of 1.688p pence.
Chief executive Ian Harebottle bought 200,000 shares, This is his first purchase and represents approximately 0.06 percent of the total capital.
Chairman Graham Mascall and chief financial officer Devidas Shetty also made their first purchases, Mascall taking 150,000 shares, or 0.05 percent, while Shetty acquired 100,000, or 0.03 percent.
Executive director Sean Gilbertson bought 200,000, his second purchase of company shares, which is taking his holding to 0.09 percent of the capital.
Only last week, Gemfields announced it was “very pleased” with the outcome of the auction of predominantly lower quality rough emerald and beryl held in Jaipur, India, from March 10-14 2011.
When compared with the lower quality auction held in March 2010, per carat prices showed a 148 percent increase from US$0.31 per carat to US$0.77 per carat.
“This provides a clear indication of robust growth in both prices and demand for emeralds in general, and Gemfields’ ethical emeralds in particular, across all regions and all sectors,” the company had said in a statement.
The three auctions held in the current financial year have yielded US$37 million in aggregate revenues, while all six auctions held since July 2009 have generated US$55.7 million in combined revenue.
Gemfields' next auction of predominantly higher quality rough emeralds is scheduled for July 2011.