GEMFIELDS GROUP LIMITED - Response to Share Price Movement

Response to Share Price Movement

Gemfieds 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")


Response to Share Price Movement

LONDON, 09 JULY 2021


The Company notes the recent increase in its share price and confirms that there is no disclosable
unpublished price-sensitive information relating to the Company at the present time.

The Company's operations in both Mozambique and Zambia remain materially uninterrupted. The
Company is closely monitoring the global Covid-19 situation and presently expects to hold three
further gemstone auctions this year.

The Company expects to announce robust financial performance for the six months ending 30
June 2021 as a result of the strength of the gemstone auctions held in March and April 2021,
combined with the cost cutting measures which were in place until end March 2021 (including the
suspension of principal operations at its emerald and ruby mines). The Company expects revenue
to be in the region of USD 95 million for the six months ending 30 June 2021. The Company
expects to announce its half year results by the end of September 2021.

Notwithstanding the welcome increase in the Company's share price, Gemfields still trades at a
significant discount to its net asset value. In addition, the Company notes that, at its recent VAGM
on 24 June 2021, shareholders rejected a resolution which would have granted the Company’s
board consent to issue at its discretion up to 5% of the Company’s share capital at the higher of (i)
ZAR 3.00 per share and (ii) the then prevailing 30-day volume-weighted average price. The ZAR
3.00 per share floor price proposed in that resolution remains a significant premium to today’s
closing share price.

                                                   -ENDS-




   Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
                                     T +44 (0)1481 731 554
                                        gemfieldsgroup.com
              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
                                   Clayton Bush / Scott Mathieson / Kane Collings
                                   T: +44(0) 20 3100 2222


 FINANCIAL PR/ IR                  Camarco
                                   Gordon Poole / Nick Hennis
                                   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: 09-07-2021 08:00:00
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