Gem Diamonds Limited Flexible tender sales process (2827I)
April 01 2020 - 1:00AM
UK Regulatory
TIDMGEMD
RNS Number : 2827I
Gem Diamonds Limited
01 April 2020
1 April 2020
GEM DIAMONDS LIMITED
("Gem Diamonds" or "the Company")
Flexible tender sales process for selected Letšeng large
diamonds
Gem Diamonds Limited (LSE: GEMD) announces that the first round
of the Letšeng flexible tender sales process concluded on 26 March
2020 and raised US$12.1 million for a selection of Letšeng's large,
high quality diamonds.
The previously announced flexible tender sales process was put
in place as a result of the March large diamond tender being
cancelled due to the travel and other Covid19 restrictions imposed
by the Belgian government and the governments of the Company's
clients. The flexible tender sales process will continue during the
period of these restrictions.
For a full description of the steps taken regarding the
prevention of the Covid19 disease see the Company's website at
www.gemdiamonds.com
Clifford Elphick, CEO of the Company, commented:
"The results of the initial round of the flexible tender sales
process for a selection of Letšeng's large diamonds demonstrates
the continued demand for these high quality diamonds. The US$12.1m
raised from the sale maintains revenue and cashflow during the
current challenges of the Covid19 global pandemic".
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67
For further information:
Gem Diamonds
Susan Wallace, Company Secretarial department
ir@gemdiamonds.com
Celicourt Communications
Mark Antelme / Joanna Parker
Tel: +44 (0) 208 434 2643
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. 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. www.gemdiamonds.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
STREALDFDLKEEFA
(END) Dow Jones Newswires
April 01, 2020 02:00 ET (06:00 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