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Incorporated in Guernsey. Guernsey registration Number: 47656.
South African external company registration number 2009/012636/10
Share code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Company")
Update on Share Buyback Programme
LONDON, 20 OCTOBER 2023
Following the previously announced purchase of 31,610,735 of the Company’s own ordinary
shares of USD0.00001 ("Ordinary Shares") on Wednesday 18 October 2023, Gemfields
announces that as of that date, a total of 55,570,701 Ordinary Shares had been purchased.
This represents 4.59% of the issued Ordinary Share capital on the date of the original general
authority to purchase the Ordinary Shares, which was 1,210,087,232 as at 30 November 2022.
Under the JSE Listing Requirements, an announcement is made once 3% of the issued Ordinary
Share capital in aggregate has been repurchased.
Since commencing the share buyback: As at 18 October 2023
Total number of ordinary shares purchased: 55,570,701
Highest price paid per share: ZAR3.45
Lowest price paid per share: ZAR3.00
Volume weighted average price paid per share: ZAR3.1751
Aggregate price paid excluding the cost of dealing: ZAR176,441,435.02
These Ordinary Shares were purchased using the cash resources of the Company. The purchase
of Ordinary Shares will result in a lower weighted average number of shares in issue used to
calculate earnings per share in the Company’s future financial reporting.
The purchases were made in terms of the current general authority granted by the Company’s
shareholders and were effected through the order book on the JSE trading system without any
prior understanding or arrangement between the Company and the counterparties, thereby
complying with paragraph 5.72 (a) of the JSE Listing Requirements.
Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
T +44 (0)1481 731 554
gemfieldsgroup.com
The total number of Ordinary Shares held in treasury by the Company is 52,841,151. These
Ordinary Shares will be held as treasury shares before being periodically cancelled. Any
cancellations will be announced separately. The total number of Ordinary Shares in issue is
1,221,918,104, including treasury shares.
Therefore, the number of Ordinary Shares that each carry the right to one vote is 1,169,076,953.
This is the total voting rights figure which may be used by shareholders as the denominator in
determining whether they are required to notify their interests in, or a change to their interest in,
the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Statement by the Directors
After considering the effect of the buyback the Directors of the Company are of the opinion that
the:
a) Company will be able in the ordinary course of business to pay its debts for a period of
12 months after the date of the announcement;
b) assets of the Company and the group will be in excess of the liabilities of the Company
for a period of 12 months after the date of the announcement;
c) share capital and reserves of the Company will be adequate for ordinary business
purposes for a period of 12 months after the date of the announcement; and
d) working capital of the Company will be adequate for ordinary business purposes for a
period of 12 months after the date of the announcement.
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, contact us on:
ir@gemfields.com
For any press enquiries please contact us on:
gemfields@camarco.co.uk
Gemfields Group Limited Page 2 of 4
ENQUIRIES
GEMFIELDS Sean Gilbertson / David Lovett / Ian Hughes
ir@gemfields.com
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
NOMINATED ADVISER Cavendish Capital Markets Limited
(AIM) & JOINT BROKER Neil McDonald / Edward Whiley / Tim Redfern
T: +44(0) 20 7220 0500
JOINT BROKER Liberum
Scott Mathieson / Kane Collings
T: +44(0) 20 3100 2222
FINANCIAL PR/ IR Camarco
Gordon Poole / Emily Hall
T: +44(0) 20 3757 4980
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading responsible miner and marketer of coloured gemstones. Gemfields is
the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the
world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one
of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also
holds controlling interests in various other gemstone mining and prospecting licences in Zambia,
Mozambique, Ethiopia and Madagascar.
Gemfields’ outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage
- enables Gemfields to optimise positioning, perception and consumer awareness of coloured
gemstones through Fabergé designs, advancing the wider group’s “mine and market” vision.
Gemfields Group Limited Page 3 of 4
Gemfields has developed a proprietary grading system and a pioneering auction platform to
provide a consistent supply of coloured gemstones to downstream markets, a key component of
Gemfields’ business model that has played an important role in the growth of the global coloured
gemstone sector.
GEMFIELDS
GEMFIELDS.COM | INVESTORS |FOUNDATION
INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE
KAGEM MINING LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
Gemfields Group Limited Page 4 of 4
