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GEMFIELDS GROUP LIMITED – GML : First Day of Dealings on AIM


                            

GML : First Day of Dealings on AIM:
GEMFIELDS GROUP LIMITED
(Incorporated in Guernsey)
(Guernsey registration Number: 47656)
(South African external company registration number 2009/012636/10)
Share code on the BSX: GML.BH ISIN: GG00BG0KTL52
Share code on the JSE: GML LEI: 21380017GAVXTCYS5R31
(‘Gemfields’, the ‘Company’ or the ‘Group’)

14 February 2020

First Day of Dealings on AIM

Gemfields, a world-leading supplier of responsibly sourced coloured gemstones, is pleased to announce that
admission on the AIM market of the London Stock Exchange will take place, and dealings in its ordinary shares will
commence, at 8:00am GMT today under the TIDM code ‘GEM’ (‘Admission’)(‘Ordinary Shares’). The ISIN of the
Ordinary Shares is GG00BG0KTL52 and the SEDOL is BKFW1G3.

At the time of Admission, the Company’s total issued share capital will consist of 1,267,450,245 Ordinary Shares with
a nominal value of USD 0.00001 each, of which 96,381,488 Ordinary Shares are held by the Company and have no
voting rights. Therefore, the total issued number of Ordinary Shares with voting rights is 1,171,068,757. This figure
of 1,171,068,757 Ordinary Shares may be used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to notify their interest in, or a change in their interest
in, the share capital of the Company under the Financial Conduct Authority’s disclosure and transparency rules.

FinnCap is acting as Nominated Adviser and Broker to the Company. The Company’s schedule one announcement
(‘Schedule One’) and the appendix to the Schedule One can be viewed at:
www.gemfieldsgroup.com/announcement-of-intention-to-float-on-aim/

Sean Gilbertson, CEO of Gemfields, commented:

‘Today’s admission to the London market is an important milestone for Gemfields after a decade of growth in the
demand and prices for precious coloured gemstones. The AIM listing seeks to provide UK, European and international
investors with more expedient entry into the precious coloured gemstone market, to improve share trading liquidity
and to widen Gemfields’ current investor base. Our team looks forward immensely to this next phase in Gemfields’
development and to delivering value for all our stakeholders.’

Further information on Gemfields Group Limited can be found at www.gemfieldsgroup.com
To join our press release mailing list, click here: gemfields@gemfields.com
For any press enquiries please contact us on gemfields@camarco.co.uk

Enquiries:

Gemfields Nominated Adviser and Broker (AIM)
Sean Gilbertson / David Lovett / Mark Lawrie finnCap
Tel: +44(0) 20 7518 3400 Scott Mathieson / Edward Whiley
Tel: +44(0) 20 7220 0500

Sponsor (JSE) IR / Financial PR
Invested Bank Limited Gordon Poole / Jennifer Renwick / Nick Hennis
Tel: +44(0) 20 3757 4980
Notes to Editors

Gemfields is a world-leading supplier of responsibly sourced coloured gemstones. The Group is Africa-focussed, led
by a senior management team and board of industry veterans, and is the market leader in the mining, grading,
marketing and selling of precious coloured gemstones.

Since acquiring the Gemfields assets in 2017, the Group has focussed on operational efficiency and is now returning
to the London market as a cash generative, profitable and net-cash-positive company. Returning to AIM will provide
access to greater liquidity and a wider pool of international investors with the opportunity for UK, European and
international investors to invest in the world-leader of the growing precious coloured gemstone market.

The Group’s key producing assets are located in Zambia (emerald and beryl) and Mozambique (rubies), whilst also
holding controlling interests in various exploration licences in Zambia, Mozambique, Ethiopia and Madagascar. The
Kagem mine in Zambia is believed to be the world’s largest producing emerald mine and is estimated to account for
more than one fifth of the world’s total production of emeralds. Similarly, the MRM ruby mine in Mozambique is
recognised as the largest ruby producing mine in the world. The Group has a controlling 75% interest in both Kagem
and MRM and is the operator of both assets.

Gemfields has developed a proprietary grading system for emeralds and rubies together with a pioneering auction
platform which provides a consistent supply of coloured gemstones to downstream markets. Popularity, demand
and price for coloured gemstones has increased significantly over the past decade with the Group playing a central
role in that growth by providing markets with increased confidence in the quality, consistency and traceability of
rough coloured gemstones, including the use of blockchain and nanoparticle tracers. Gemfields also strives to take
a leading role in providing a positive impact for its stakeholders through its commitment to the Group’s three core
values of transparency, legitimacy and integrity. Gemfields carries a strong belief that coloured gemstones should
benefit the host country and host communities from which they originate.

In addition to the gemstone mining and production assets, the Group also owns Faberge, one of the world’s most
recognisable luxury brands. Faberge provides the Group with direct access to the coloured gemstone end-consumer
and assists in increasing the perception and awareness of coloured gemstones through its jewellery, timepieces and
objects.

Following Admission to AIM at 8.00am GMT today, the Gemfields board intends to continue to pursue an organic
growth strategy driven by strong operational performance, healthy cash generation and a commitment to further
developing a transparent, professional and responsible coloured gemstone industry. Any future M&A opportunities
will be carefully considered by the Board against appropriate financial and operational criteria.

The Group currently has a primary listing on the Johannesburg Stock Exchange and a secondary listing on the
Bermuda Stock Exchange. The Company will be exploring options for its Bermuda listing following today’s admission
to AIM.

Date: 14-02-2020 09:00:00
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