ALLOTMENT AND ISSUE OF ORDINARY SHARES TO NON-EXECUTIVE DIRECTORSBack
13 Feb 2008
On 19th February 2008, the Board of Directors of Gem Diamonds Limited ("Gem Diamonds" or the "Company") met and formally approved the allotment and issue of 506,322 ordinary shares in the capital of the Company ("Ordinary Shares") to four of the Company's Non-Executive Directors on the terms set out in the Prospectus published by the Company on 14 February 2007 and outlined in more detail below. The Ordinary Shares will be subscribed for at a nominal value of US$0.01 each.
Application has been made to the FSA and the London Stock Exchange for listing and trading of the shares as at 25th February 2008.
|Non-Executive Director||Number of Ordinary Shares|
|Roger Davis||(2nd tranche) 289,326|
|Gavin Beevers||(2nd tranche) 72,332|
|Dave Elzas||(2nd tranche) 72,332|
|Mike Salamon||(1st tranche) 72,332|
For further information:
Gem Diamonds Limited
Tel: 020 3043 0280