GEMFIELDS GROUP LIMITED - Update - Proposed sale of stake in Sedibelo Platinum

Update - Proposed sale of stake in Sedibelo Platinum

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")




Update - Proposed Sale of Stake in Sedibelo Platinum


LONDON, 7 JANUARY 2022


Gemfields hereby provides an update on the proposed sale of its interest in Sedibelo Platinum
Mines Limited (“SPM”). At the time of the Company’s announcement on 13 November 2020,
Gemfields held its stake in SPM via an interposed vehicle named Pallinghurst Ivy Lane Capital S.à
r.l. (“Ivy Lane”), a company incorporated in Luxembourg, which in turn had an interest in 27.64%
of SPM.

Gemfields is pleased to confirm that Ivy Lane has now been “unbundled” such that Ivy Lane’s
27.64% shareholding in SPM, as well as Ivy Lane’s surplus net assets, have been transferred to Ivy
Lane’s shareholders in accordance with their respective equity holdings in Ivy Lane. Gemfields
therefore now holds its 6.54% stake in SPM directly.

SPM is a public (unlisted) company incorporated in Guernsey and owns and operates the
Pilanesburg Platinum Mines located in South Africa’s Bushveld Igneous Complex. SPM dispatched
and sold approximately 128,800 4E PGM ounces (comprising platinum, palladium, rhodium and
gold) and generated EBITDA of approximately USD113 million in its financial year ending 31
December 2020 (nine months to September 2021: approximately 68,800 4E PGM ounces and
EBITDA of approximately USD 45 million). Gemfields understands that SPM is planning an IPO
in 2022.

As previously announced, SPM is not considered a core part of Gemfields’ strategy. Gemfields
invites interested parties to contact Liberum Capital Limited, who have been appointed by
Gemfields to manage an orderly disposal of Gemfields’ SPM shares.

                                               -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 / Emily Hall
                                   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



Gemfields Group Limited                                                               
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, 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: 07-01-2022 09:00:00
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