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Gemfields Group Limited (JSE:GML) News - Audited Annual Results for the year ended 31 December 2021 & Special Dividend
GEMFIELDS GROUP LIMITED
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")
Audited Annual Results for the year ended 31 December 2021 & Special Dividend
LONDON, 25 MARCH 2022
Gemfields hereby announces the Company's audited financial results for the year ending 31
December 2021 ("2021 Results"). The content of this short form announcement is the
responsibility of the board of directors of the Company.
Shareholders are advised that this short form announcement represents a summary of the
information contained in the full announcement and does not contain full or complete details of
the financial results.
Sean Gilbertson, CEO of Gemfields, commented:
“2021 was an ‘annus mirabilis’ which saw the Gemfields Group robustly consign the horrors of
2020 to the history books. It has been a privilege to witness how the global Gemfields team has
pulled together to overcome the assorted challenges posed by Covid-19, going from strength to
strength in such unpredictable times and finishing the year with record-breaking revenues and
cashflow generation.
Gemfields’ teams have made notable sacrifices to safeguard the business through two years of
turbulence. Their significant contributions and our strong earnings for the year mean that the board
has been able to allocate USD20 million to be distributed as a special dividend, a long-awaited,
welcome and significant milestone for the Group.
We continue to work closely with our host nations to improve transparency in the coloured
gemstone sector and to support our local communities through health, education and livelihoods
initiatives. The record auction revenue and average price per carat achieved during 2021
demonstrate the positive direction of travel both operationally in Zambia and Mozambique and
with our customer base where we continue to see healthy demand for our products. We look
forward to 2022 with optimism.”
Any investment decisions by investors and/or shareholders should be based on careful
consideration of the full announcement as a whole. The 2021 Results containing the audit opinion,
including key audit matters, is available for viewing on the Company’s website
at www.gemfieldsgroup.com.
The full results can be accessed by following the link below:
https://senspdf.jse.co.za/documents/2022/jse/isse/GMLE/AR21.pdf
The 2021 Results, including the audit opinion, may also be requested at Gemfields’ registered
office, PO Box 186, Royal Chambers, St. Julian’s Avenue, St. Peter Port, Guernsey, GY1 4HP, at
no charge, during office hours from Monday, 28 March 2022. Investors and/or shareholders may
also request copies of the full announcement from the Company Secretary
via companysecretary@gemfields.com.
Financial and Operating Results:
Year ended 31 Year ended 31 2021 versus Year ended 31 2021 versus
December 2021 December 2020 2020 December 2019 2019
USD’000 USD’000 % USD’000 %
Revenue 257,706 34,567 646 216,233 19
Operating
Profit/(Loss) 107,634 (96,287) 212 91,550 18
Net Profit/(Loss) 64,963 (93,227) 170 39,131 66
EBITDA(1) 133,101 (32,909) 504 80,892 65
USD cents USD cents % USD cents %
EPS/LPS(2) 4.0 (7.0) 159 2.0 94
HEPS/HLPS(2) 5.0 (6.0) 174 1.0 345
Dividend per share(3) 1.7 - - - -
31 December 31 December Change 31 December Change
2021 2020 versus 2020 2019 versus 2019
USD’000 USD’000 % USD’000 %
Net Asset Value
(Parent only) 464,506 412,573 13 494,261 (6)
Net cash/(debt) 62,985 (12,643) 598 25,391 148
1 Earnings before interest, taxation, depreciation and amortisation.
2 Earnings Per Share (“EPS”) and Headline Earnings Per Share (“HEPS”) disclosed to 1 decimal
places in the table above, % change based on actual number.
3 Calculated on the current number of shares in issue.
The short form announcement has itself not been audited, however, the financial information
included herein has been extracted from the annual financial statements which have been audited
by the Company’s auditors, BDO LLP. The auditor's report on those financial statements was not
qualified and did not draw attention to any emphasis of matter.
Shareholder and analyst webcast
There will be a shareholder and analyst webcast today, 25 March 2022 at 08.30 am (UK) /
10.30 am (South African). Sean Gilbertson and David Lovett will present the Company’s 2021
Annual Results.
Shareholders who wish to participate in the webcast are requested to register via the link below:
https://investorpresentations.co.za/gemfields/events/32-shareholder-and-analyst-webcast
Special Dividend declaration
Notice is hereby given that a Special Dividend (“Dividend”) of USD20 million, or approximately
USDc 1.7 per share, for the year ended 31 December 2021, has been declared out of income
reserves. The number of shares in issue at the date of declaration is 1,172,957,810 shares.
SARB Approval was obtained on 24 March 2022. The Company’s tax number is 32518 26138
(United Kingdom). The Directors confirm that the solvency and liquidity test is satisfied at the date
of this announcement. The timetable of the Dividend is displayed below:
2022
Declaration date Friday, 25 March
Currency conversion date Thursday, 7 April
Finalisation announcement including the currency conversion
announcement released on SENS and RNS by 11:00 a.m SA time Friday, 8 April
Last date to effect removal of shares between the UK (AIM) and SA
(JSE) registers Tuesday, 19 April
The last day to trade in Gemfields shares in order to qualify to
participate in the Dividend on Tuesday, 19 April
Shares start trading ‘ex’ dividend in SA on Wednesday, 20 April
Shares start trading ‘ex’ dividend in UK on Thursday, 21 April
Record date for participation in the Dividend Friday, 22 April
Removal of shares between UK and SA registers permissible from Monday, 25 April
Payment date Friday, 6 May
Share certificates may not be dematerialised or re-materialised between Wednesday, 20 April 2022
and Friday, 22 April 2022, both days inclusive.
For those shareholders who have specific questions on the mechanics of the distribution of the
Dividend and who may need to update their personal details to ensure safe receipt of the monies:
JSE shareholders on the South African Share Register
Please contact either your broker or CSDP with any questions or to update your details.
AIM Shareholders on the Guernsey Share Register
For dematerialised shareholders - please contact your broker or custodian with any questions or to
update your details.
For certificated shareholders - please contact Computershare Jersey at:
E-mail info@computershare.co.je / Telephone + 44 370 707 4040
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 / Mark Lawrie
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
SEDIBELO SALE PROCESS Liberum
Nehal Patel
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 supplier of responsibly sourced 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 licenses 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, 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 and 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
Date: 25-03-2022 09:46:00
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