TIDMGEM
RNS Number : 7395Q
Gemfields Group Limited
20 October 2023
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 ZAR3.1751
paid per share:
Aggregate price paid excluding ZAR176,441,435.02
the cost of dealing:
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.
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
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 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
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END
POSNKCBNBBDBPKD
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October 20, 2023 02:04 ET (06:04 GMT)
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