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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")
Director/PDMR and Company Secretary
Shareholdings
LONDON, 7 October 2022
On 5 October 2022 the Company announced that: (i) David Lovett, a PDMR of the Company,
had exercised 1,184,200 share options at an exercise price of ZAR2.97 per ordinary share of
USD0.00001 each in the company (“Ordinary Share”) and 7,000,000 share options at an exercise
price of ZAR2.30 per Ordinary Share; (ii) Adrian Banks, a PDMR of the Company, had exercised
553,900 share options at an exercise price of ZAR2.97 per Ordinary Share and 6,000,000 share
options at an exercise price of ZAR2.30 per Ordinary Share; and (iii) Toby Hewitt, the Company
Secretary of the Company, had exercised 191,000 share options at an exercise price of ZAR2.97
per Ordinary Share and 1,500,000 share options at an exercise price of ZAR2.30 per Ordinary
Share.
In accordance with AIM Rule 17, shareholders are advised that Gemfields has received notice that
Mr Lovett, Mr Banks and Mr Hewitt have sold in aggregate 15,029,100 Ordinary Shares at a price
of GBP£0.18 pence (equivalent to ZAR3.60) per Ordinary Share to Assore International Holdings
Limited (“AIHL”). Following the above transaction, Mr Lovett owns 1,442,000 Ordinary Shares,
representing 0.12 per cent of the Company, Mr Banks owns 11,888 Ordinary Shares, representing
0.00 per cent of the Company (a slight increase from that notified in the announcement made on
5 October 2022), and Mr Hewitt own no Ordinary Shares.
Patrick Sacco and Kieran Daly are Non-Executive Director and Alternate Non-Executive Director
of the Company, respectively. Mr Sacco is also Managing Director of, and holds a beneficial interest
in, AIHL, and Mr Daly is also a Non-Executive Director of AIHL. As noted at the time of his
appointment, Mr Sacco is therefore deemed to have a beneficial interest in AIHL’s entire legal
holding in Gemfields.
Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
T +44 (0)1481 731 554
gemfieldsgroup.com
Following the purchase of the 15,029,100 Ordinary Shares as detailed above, as well as 1,578,280
Ordinary Shares held by other non-PDMR option-holders, AIHL holds (and consequently Mr
Sacco is deemed to have a beneficial interest in) 328,147,940 Ordinary Shares, representing 27.23
per cent. of the Company’s voting rights.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name David Lovett
2 Reason for the notification
a) Position/status PDMR
b) Initial notification Initial Notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Gemfields Group Limited
b) LEI 21380017GAVXTCYS5R31
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial Ordinary Shares of USD0.00001 each
instrument, type of
instrument
Identification code ISIN: GG00BG0KTL52
b) Nature of the transaction Sale of Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R3.60 (or GBP £0.18) 6,784,200
d) Aggregated information
Gemfields Group Limited Page 2 of 8
- Aggregated volume 6,784,200 (noting that 1,400,000 shares have been
retained by David Lovett)
- Price R3.60 (or GBP £0.18)
e) Date of the transaction 6 October 2022
f) Place of the transaction London Stock Exchange
In compliance with Rules 3.63 – 3.74 of the JSE Listings Requirements, we disclose the following
additional information:
Nature of transaction Off market sale of shares
Total value of transaction R 24,423,120 (not net of the total
exercise costs of the options)
Nature of interest Direct Beneficial
Clearance obtained Yes
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Adrian Banks
2 Reason for the notification
a) Position/status PDMR
b) Initial notification Initial Notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Gemfields Group Limited
b) LEI 21380017GAVXTCYS5R31
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
Gemfields Group Limited Page 3 of 8
a) Description of the financial Ordinary Shares of USD0.00001 each
instrument, type of
instrument
Identification code ISIN: GG00BG0KTL52
b) Nature of the transaction Sale of Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R3.60 (or GBP £0.18) 6,553,900
d) Aggregated information
- Aggregated volume 6,553,900
- Price R3.60 (or GBP £0.18)
e) Date of the transaction 6 October 2022
f) Place of the transaction London Stock Exchange
In compliance with Rules 3.63 – 3.74 of the JSE Listings Requirements, we disclose the following
additional information:
Nature of transaction Off market sale of shares
Total value of transaction R 23,594,040 (not net of the total
exercise costs of the options)
Nature of interest Direct Beneficial
Clearance obtained Yes
Notification of a Transaction in terms of the JSE Listings Requirements
Name Toby Hewitt
Position Company Secretary and General Counsel
Nature of the Off market sale of Ordinary Shares
transaction
Price(s) and volume(s)
Price(s) Volume(s)
ZAR2.97 191,000
ZAR2.30 1,500,000
Gemfields Group Limited Page 4 of 8
Total value of R6,087,600
transaction
Date of the transaction 6 October 2022
Clearance obtained Yes
Nature of interest Direct Beneficial
Place of the London Stock Exchange
transaction
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Patrick Sacco
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification Initial Notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Gemfields Group Limited
b) LEI 21380017GAVXTCYS5R31
Gemfields Group Limited Page 5 of 8
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial Ordinary Shares of USD0.00001 each
instrument, type of
instrument
Identification code ISIN: GG00BG0KTL52
b) Nature of the transaction Purchase of Ordinary Shares by Assore International
Holdings Limited (“AIHL”). Mr Sacco is Managing
Director of, and holds a beneficial interest in, AIHL.
Mr Sacco is therefore deemed to have a beneficial
interest in AIHL’s entire legal holding in Gemfields.
c) Price(s) and volume(s)
Price(s) Volume(s)
R3.60 (or GBP£0.18) 16,607,380
d) Aggregated information
- Aggregated volume 16,607,380
- Price R3.60 (or GBP£0.18)
e) Date of the transaction 6 October 2022
f) Place of the transaction London Stock Exchange
-ENDS-
Gemfields Group Limited Page 6 of 8
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, contact us on:
companysecretary@gemfields.com
For any press enquiries please contact us on:
gemfields@camarco.co.uk
ENQUIRIES
GEMFIELDS Sean Gilbertson / David Lovett
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
SEDIBELO SALE PROCESS Liberum
Scott Mathieson T: +44(0) 20 3100 2222
NOMINATED ADVISER finnCap
(AIM) & JOINT BROKER Christopher Raggett / Tim Redfern / Edward Whiley
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 miner of responsible 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
Gemfields Group Limited Page 7 of 8
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 has developed a proprietary grading system and a pioneering auction and trading
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 8 of 8
