Wrap Text
Trading Statement for the year ended 31 December 2024 and Announcement in connection with a Proposed 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")
Trading Statement for the year ended 31 December 2024 and
Announcement in connection with a Proposed Rights Issue
LONDON, 11 APRIL 2025
In accordance with paragraph 3.4(b) of the JSE Listings Requirements, Gemfields shareholders are
advised that the Company is reasonably certain of its expected financial results for the year ended
31 December 2024.
Release of Full Year Results and Annual Report
The Company's financial results for the year ended 31 December 2024 are expected to be released
today (Friday 11 April 2025) on SENS, RNS and the Company's website at 07:30am (UK) /
08:30am (South Africa).
Announcement of Proposed Rights Issue
Gemfields Group Limited also announces it will be seeking shareholder approval to, amongst other
things, issue 556,203,396 New Shares to raise approximately USD 30 million by way of a fully
committed and underwritten Rights Issue (the "Proposed Rights Issue"). The Proposed Rights
Issue, which subject to shareholder approval, shall be fully underwritten by Gemfields' two largest
shareholders, Assore International Holdings Limited ("AIH") and Rational Expectations (Pty) Ltd
("Rational"). Should shareholder approval be obtained at an Extraordinary General Meeting
("EGM") of the Company, the Company will launch the Proposed Rights Issue which will be
offered at a UK Issue Price of 4.22 pence per New Share and SA Issue Price of ZAR 1.06860 per
New Share, on a 10 New Shares for every 21 Existing Shares basis and will be available to all
qualifying shareholders.
AIH and Rational have also entered into Pre-Funding Agreements with the Company, pursuant to
which each of AIH and Rational shall make loans equivalent to their pro-rata entitlement in the
Proposed Rights Issue in the amounts of USD 8,742,000 and USD 4,646,000, respectively (together
the "Loans") to the Company, subject to the publication of the EGM Circular. The Loans will
provide the Company with an immediate working capital injection pending the completion of the
Proposed Rights Issue.
The full announcement, Notice of EGM and publication of the EGM Circular setting out details
of the Proposed Rights Issue is expected to be released following the receipt of final regulatory
approval, and will also be made available on the Company's website at: www.gemfieldsgroup.com.
Expected loss per share and headline loss per share
Loss per share[1] for the year ended 31 December 2024 is expected to be USDc 7.0 (2023: Loss per
share – USDc 0.8). In ZAR terms, the loss per share is expected to be ZARc 129.0 (2023: Loss per
share – ZARc 15.4).
Headline loss per share [1] is expected to be USDc 2.1 (2023: Headline loss per share – USDc 0.9).
In ZAR terms, headline loss per share is expected to be ZARc 39.1 (2023: Headline loss per share
– ZARc 16.0).
The Company's weighted average shares in issue for the year ended 31 December 2024 was
1,167,028,719 (Weighted average for 2023: 1,206,076,930).
The financial information upon which this trading statement is based has not been reviewed or
reported on by the Company's auditors and is the responsibility of the Company's directors.
[1] Per share metrics based on weighted average number of shares over the period and earnings are based on parent-
only figures (i.e. exclusive of the minority interest).
Full year results shareholder and analyst webcast
The Company intends to schedule a shareholder and analyst webcast after receiving final regulatory
approval for the release of the Proposed Rights Issue shareholder Circular.
In the meantime, should you wish to ask a question, please contact ir@gemfields.com.
-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
Gemfields Group Limited
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: 11-04-2025 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
