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GEM Gemfields Group Limited

12.00
-0.50 (-4.00%)
Last Updated: 08:00:15
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gemfields Group Limited LSE:GEM London Ordinary Share GG00BG0KTL52 ORD USD0.00001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -4.00% 12.00 11.50 12.50 12.15 12.00 12.00 121,028 08:00:15
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 341.11M 56.78M 0.0464 2.59 146.75M

Gemfields PLC Changes to Board of Directors (8698M)

18/10/2016 3:46pm

UK Regulatory


Gemfields (LSE:GEM)
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TIDMGEM

RNS Number : 8698M

Gemfields PLC

18 October 2016

Gemfields plc

("Gemfields" or "the Company")

Changes to Board of Directors

18 October 2016

Gemfields plc announces the resignation of COO, Devidas Shetty, who will leave the Gemfields Group and step down from the board of directors on Monday the 31(st) October 2016 to pursue new opportunities outside of the business. Janet Boyce, CFO, will join the board on that date subject to completion of standard director due diligence.

Ian Harebottle, CEO, said:

"Dev joined Gemfields as CFO in January 2010, becoming COO in September 2012. He has made a tremendous contribution to the growth and development of Gemfields and we wish him every success for the future. His responsibilities will be re-allocated internally.

I am delighted that Janet Boyce, who joined Gemfields as CFO in August 2013 will join the board in her existing capacity as CFO on the 1(st) November 2016. "

ENQUIRIES:

 
 Gemfields                                  jj.williams@gemfields.co.uk 
                                            +44 (0)20 7659 
 JJ Williams, Company Secretary              4965 
 
 Grant Thornton UK LLP 
 Nominated Adviser 
 Philip Secrett/Richard Tonthat/Jamie       +44 (0)20 7383 
  Barklem                                    5100 
 
 J.P. Morgan Cazenove 
 Joint Broker 
                                            +44 (0)20 7742 
 Jamie Riddell / James Deal                  4000 
 
 BMO Capital Markets Limited 
 Joint Broker 
 Jeff Couch/Neil Haycock/Tom Rider/Jenny    +44 (0)20 7236 
  Wyllie                                     1010 
 
 Macquarie Capital (Europe) Limited 
  Joint Broker 
  Raj Khatri/Nick Stamp/Guy de               +44 (0)20 3037 
  Freitas                                     2000 
 
 Tavistock 
 Jos Simson/Emily Fenton/Barnaby            +44 (0)20 7920 
  Hayward                                    3150 
 

Notes to Editors:

Gemfields plc is the world's leading supplier of responsibly sourced coloured gemstones and is quoted on the AIM division of the London Stock Exchange (ticker: GEM) where it is a constituent of the AIM50 index.

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 a 50% interest in the Kariba amethyst mine in Zambia, as well as controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Colombia, Ethiopia, Madagascar and Sri Lanka.

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 quality coloured gemstones to the global downstream markets. This is a key component of the Company's business model which the Directors believe has played an important role in the appropriate distribution and associated resurgence of the global coloured gemstone sector.

www.gemfields.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAAKFDQQBDDQKD

(END) Dow Jones Newswires

October 18, 2016 10:46 ET (14:46 GMT)

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