Wrap Text
Results of Rights Issue
Gemfields Group Limited
Incorporated in Guernsey. Guernsey registration number: 47656
South African external company registration number: 2009/012636/10
Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Group" or the "Company")
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, HONG KONG,
SINGAPORE OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS AN ADVERTISEMENT FOR THE PURPOSES OF THE UK
PROSPECTUS REGULATION RULES OF THE FINANCIAL CONDUCT AUTHORITY
(THE "FCA") AND DOES NOT CONSTITUTE A PROSPECTUS OR A PROSPECTUS
EQUIVALENT DOCUMENT. NEITHER THIS ANNOUNCEMENT NOR ANY PART OF
IT SHOULD FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH OR
ACT AS AN INDUCEMENT TO ENTER INTO ANY CONTRACT OR COMMITMENT
WHATSOEVER. NOTHING IN THIS ANNOUNCEMENT SHOULD BE INTERPRETED
AS A TERM OR CONDITION OF THE RIGHTS ISSUE. IN ORDER TO FULLY
UNDERSTAND THE POTENTIAL RISKS AND REWARDS ASSOCIATED WITH THE
DECISION TO INVEST IN THE SECURITIES, ANY DECISION TO PURCHASE,
SUBSCRIBE FOR, OTHERWISE ACQUIRE, SELL OR OTHERWISE DISPOSE OF ANY
NIL PAID RIGHTS, FULLY PAID RIGHTS OR NEW SHARES MUST BE MADE ONLY ON
THE BASIS OF THE INFORMATION CONTAINED IN THE PROSPECTUS. THE
APPROVAL OF THE PROSPECTUS SHOULD NOT BE UNDERSTOOD AS AN
ENDORSEMENT OF THE SECURITIES OFFERED.
Results of Rights Issue
LONDON, 13 JUNE 2025
Gemfields is pleased to announce the outcome of its Rights Issue and issuance of 556,203,396
New Shares to raise approximately USD30 million by way of a fully underwritten Rights Issue as
originally announced on 11 April 2025.
The Company received valid acceptances for 458,330,512 New Shares, representing approximately
82.40% of the total number of New Shares that will be issued pursuant to the Rights Issue. The
remaining 97,872,884 New Shares will be subscribed for by the Rights Issue's underwriters, with
Assore International Holdings Limited ("AIH") subscribing for 63,910,993 New Shares and
Rational Expectations (Pty) Ltd ("Rational") for 33,961,891 New Shares, beyond their pro-rata
holding.
It is expected that the fully paid New Shares will be admitted to trading on AIM and that trading
will commence at 08:00am (London time) this morning, 13 June 2025.
Uncertificated New Shares are expected to be credited to CREST stock accounts as soon as
possible after admission to trading and definitive share certificates for the New Shares in
certificated form will be despatched within ten Business Days of AIM Admission.
CSDP or broker accounts of Qualifying South African Shareholders (or their renouncees), who
hold their Shares in Dematerialised form, will be credited with New Shares at 09:00 (SAST) today,
Friday, 13 June 2025.
CSDP or broker accounts of Qualifying South African Shareholders (or their renouncees), who
hold their Shares in certificated form, that provided their account details and did not elect the
option to "rematerialise" their New Shares as outlined in the Form of Instruction, will be credited
with the New Shares at 09:00 (SAST) today, Friday, 13 June 2025. The New Shares of Qualifying
South African Shareholders (or their renouncees) that failed to provide their CSDP or broker
accounts as required in terms of the Form of Instruction and the Prospectus, will be held by the
SA Registrar on their behalf pending confirmation of such account details.
The Documents of Title in respect of New Shares of Qualifying South African Shareholders (or
their renouncees), who hold their Shares in certificated form, that validly elected the option to
"rematerialise" their New Shares as outlined in the Form of Instruction, will be posted to such
Qualifying South African Shareholders (or their renouncees) as soon as possible from today,
Friday, 13 June 2025.
No excess applications were allowed.
Total Voting Rights
Following AIM Admission, the total issued share capital of Gemfields Group Limited shall be
1,724,230,526 Ordinary Shares. Each Ordinary Share carries the right to one vote. Accordingly,
the Company has 1,724,230,526 total voting rights in issue and this figure may be used by
shareholders as the denominator for the calculations by which they can determine whether they
are required to notify their interests in, or a change to their interest in the Company.
Should any shareholders be required to notify Gemfields of a change in their interest following the
completion of the Rights Issue and share issuance, please contact ir@gemfields.com.
Unless the context requires otherwise, capitalised terms used but not otherwise defined in this
announcement shall have the meanings set out in the Prospectus, which is available on the
Company's website at: www.gemfieldsgroup.com/proposed-rights-issue-2025.
Summary of Rights Issue
Event Type Rights Issue
Basis of Rights Issue 10 New Shares for every 21 Existing Shares
Price per New Share (1) 4.22 pence or ZAR1.06860
Number of Shares in issue immediately prior to this 1,168,027,130
announcement (2)
Number of New Shares to be issued by Gemfields 556,203,396
pursuant to the Rights Issue
Number of Shares in issue immediately following 1,724,230,526
completion of the Rights Issue
Gross proceeds of the Rights Issue USD30,000,000
1. Based on the following spot exchange rates as at the close of business on 10 April 2025, being the last Business Day prior
to the date of the publication of the Circular sourced from Bloomberg: USD1.00 = GBP0.7726, GBP1.00 =
ZAR25.32117.
2. No Shares are held in treasury
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, please contact us on:
ir@gemfields.com
This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European
Union (withdrawal) act 2018 ("MAR").
ENQUIRIES
GEMFIELDS Sean Gilbertson / David Lovett / Ian Hughes
ir@gemfields.com
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
NOMINATED ADVISER Panmure Liberum
(AIM) & BROKER Scott Mathieson / Amrit Mahbubani / John More
T: +44(0) 20 3100 2222
PRESS ENQUIRES, GEMFIELDS Helena Choudhury / Albertina Namburete
HEAD OFFICE, LONDON helena.choudhury@gemfields.com / albertina.namburete@gemfields.com
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading responsible miner and marketer of 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 licences 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 through Fabergé designs, advancing the wider group's "mine and market" vision.
Gemfields has developed a proprietary grading system and a pioneering auction platform to
provide a consistent supply of coloured gemstones to downstream markets, a key component of
Gemfields' business model that has played an important role in the growth of the global coloured
gemstone sector.
GEMFIELDS
GEMFIELDS.COM | INVESTORS |FOUNDATION
INSTAGRAM | FACEBOOK | X | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM | FACEBOOK | X | YOUTUBE
KAGEM MINING LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
Date: 13-06-2025 08:00:00
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