Shareholder information

On 14 February 2007, Gem Diamonds was conditionally listed on the main board of the LSE. Unconditional trading in the Company’s shares commenced on 19 February 2007. An institutional offer was held simultaneously with the listing and 31 000 000 shares subscribed for at £9.50. Subsequent thereto, a greenshoe offer was completed and a further 4 100 000 shares were issued at £9.50. The gross proceeds of this capital raising were US$636 million.

On 1 April 2009, Gem Diamonds announced a placing of 75 000 000 new shares at a 100 Pence per new share. It is expected that Admission of these shares will become effective and that dealings will commence on the London Stock Exchange on 22 April 2009.

Share Capital

The authorised, issued, called up and fully paid shares of the Company immediately following the admission of the recently issued placing shares on 3 April 2009 is expected to be as follows:

 22 April 2009
Authorised ordinary shares of US$0.01 each200 000 000
Issued ordinary share of US$0.01 each137 977 853

Major Interests in shares

On 22 April 2009, the following major interests (at or above 5%) in the ordinary issued shares of US$0.01 each of the Company is expected to be notified to the Company in accordance with the Disclosure and Transparency Rules of the Financial Services Authority:

 Number of ordinary
shares of US$0.01 each
Shareholding of
5% of above
Lansdowne Partners Limited17 852 65112.94
BlackRock Investment Management Limited14 388 24610.43
Graff Diamonds International Limited13 674 5439.91
Capital Group Companies10 365 1897.51
TT International9 650 0006.99
Gem Diamonds Holdings Limited (1)9 325 0006.76
Mirabaud Investment Management Limited8 283 8876.00

(1)CT Elphick is interested in these Ordinary Shares by virtue of his interest as a potential beneficiary in a discretionary trust which has an indirect interest in these Ordinary Shares.

Directors’ Interests

The Directors at 22 April 2009 and their interests in the ordinary share capital of the Company is expected to be as follows:

 Number of Ordinary shares
RWJ Davis1 267 752
CT Elphick(1)9 325 000
AR Ashworth21 900
GA Beevers188 614
DJ Elzas144 664
KM Burford458 333
Lord Renwick60 000
M Salamon316 944
GE Turner600 000
R Williams20 000

(1)CT Elphick is interested in these Ordinary Shares by virtue of his interest as a potential beneficiary in a discretionary trust which has an indirect interest in those Ordinary Shares.

© 2009 Gem Diamonds Limited