GEMD Gem Diamonds Limited

TIDMGEMD

RNS Number : 5625R

Gem Diamonds Limited

12 December 2016

12 December 2016

GEM DIAMONDS LIMITED

("Gem Diamonds" or the "Company")

Michael Lynch-Bell - Change of external directorship

The Company has been informed that, with effect from the close of business on 9 December 2016, Mr Lynch-Bell resigned as a director of Transocean Partners LLC, following a merger of the Transocean entities.

For further information:

Gem Diamonds Limited

Juliet Cox (née Kirk). Assistant to the Company Secretary

Tel: +44 (0) 203 043 0280

Celicourt Communications

Joanna Boon/Mark Antelme

Tel: +44 (0) 207 520 9261

About Gem Diamonds:

Gem Diamonds is a leading global diamond producer of high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and 100% of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Gem Diamonds has a growth strategy based on the expansion of the Letšeng mine and bringing the Ghaghoo mine into production, while maintaining its strong balance sheet. The Company seeks to maximise revenue and margin from its rough diamond production by pursuing cutting, polishing and sales and marketing initiatives further along the diamond value chain. With favourable supply/demand dynamics expected to benefit the industry over the medium to long term, particularly at the high end of the market supplied by Gem Diamonds, this strategy positions the Company well to generate attractive returns for shareholders in the coming years.

www.gemdiamonds.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAUUAKRNSAUARA

(END) Dow Jones Newswires

December 12, 2016 04:19 ET (09:19 GMT)

Gem Diamonds (LSE:GEMD)
Historical Stock Chart
From Apr 2024 to May 2024

Gem Diamonds (LSE:GEMD)
Historical Stock Chart
From May 2023 to May 2024