Category

Business Update

Disclosure of beneficial interests in securities

In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields received formal notification on 22 September 2021 from Old Mutual Life Assurance Company (South Africa) Limited (“Old Mutual”) that Old Mutual disposed, on 17 September 2021, of a beneficial interest in 67,195,197 ordinary shares of the Company. Following the disposal, Old Mutual held a total of nil ordinary shares in the Company.

Disclosure of beneficial interests in securities

In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields received formal notification on 21 September 2021 from Assore International Holdings Limited (“Assore”) that Assore acquired on 17 September 2021 a beneficial interest in 90,533,595 ordinary shares of the Company. Following the acquisition, Assore held a total of 148,947,454 ordinary shares, equivalent to 12.74% of the total issued shares in the Company.

Trading Statement

In accordance with paragraph 3.4(b) of the JSE Listings Requirements, Gemfields is reasonably certain that its net profit after tax will be USD 23.8 million for the six months ending 30 June 2021 (comparative six-month period: USD 56.7 million net loss after tax). In ZAR terms, the net profit after tax is expected to be ZAR 346 million (comparative period: ZAR 959 million net loss after tax).

Disclosure of beneficial interests in securities

In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields received formal notification on 7 September 2021 from Assore International Holdings Limited (“Assore”) that Assore acquired on 3 September 2021 a beneficial interest in 58,413,859 ordinary shares of the Company such that, following the acquisition, Assore held a total of 58,413,859 ordinary shares, equivalent to 5.00% of the total issued shares of the Company.

Disclosure of beneficial interests in securities

In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields has received formal notification from FIL Limited (“Fidelity”) on 6 September 2021, that Fidelity disposed on 3 September 2021 of a beneficial interest in the ordinary shares of the Company, such that the total beneficial interest in ordinary shares of the Company held by Fidelity decreased from 10.99% and is now 5.99% of the total issued shares of the Company.

Emerald Auction Results

Gemfields is pleased to announce the results of an auction of predominantly commercial quality rough emeralds held from 28 July to 11 August 2021. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.

Monthly Operational Market Update – 30 June 2021

Gemfields shareholders are advised that the Company has released information about its operational results and financial position up to and including 30 June 2021. The figures have been produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic luxury brand.

Emerald Auction Results

Gemfields is pleased to announce the results of an emerald auction comprising a series of five sequential mini-auctions held during the period 15 March – 17 April 2021. The auction contained a selection of grades that are typically offered at Kagem Mining Ltd’s (“Kagem”) auctions of higher quality emeralds. Selected lots were made available for in-person and private viewings by customers in Tel Aviv, Dubai and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-bid process.

Ruby Auction Results

Gemfields is pleased to announce the results of a ruby auction comprising a series of seven sequential mini- auctions held during the period 15 March – 8 April 2021. The auction contained a selection of grades that are typically offered at Montepuez Ruby Mining Limitada’s (“MRM”) auctions of mixed quality rubies. Selected lots were made available for in-person and private viewings by customers in Bangkok, Dubai and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-bid process.