GEMFIELDS GROUP LIMITED - Change of Auditors

Change of Auditors

Gemfields 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")


Change of Auditors

LONDON, 6 DECEMBER 2021


Following a competitive tender process and a recommendation from its Audit Committee, the
Gemfields’ Board resolved to appoint Ernst & Young LLP (“Ernst and Young”) as its statutory
auditors, commencing with the financial year ending 31 December 2022, subject to ratification by
shareholders in the Company’s 2022 Annual General Meeting. The Board and the Audit
Committee have taken the view that this change of auditors promotes good corporate
governance given the long period that the incumbents, BDO LLP (“BDO”), have been in
position.

BDO will complete the Company’s audit for the financial year ending 31 December 2021 and will
formally resign thereafter. At this point, BDO remain in office. However, they expect to confirm
that, upon their formal resignation, there will be no circumstances connected with their
resignation which they consider should be brought to the attention of the members or creditors
of the Company. The Company’s Board has also confirmed that there are no disagreements, or
other matters of a similar nature, between the Company and BDO.

David Lovett, Gemfields’ Chief Financial Officer, commented:

“On behalf of the Board, I would like to take this opportunity to thank BDO for its services and
support during its many years as auditor to Gemfields. We look forward to working with Ernst
and Young during the next phase of Gemfields’ development.”



                                                -ENDS-




               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 Limited
  (AIM) & JOINT BROKER              Christopher Raggett / Tim Redfern / Edward Whiley
                                    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 / 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: 06-12-2021 09:00:00
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