RESULT OF EGMBack
16 Oct 2007
Further to the announcement by Gem Diamonds, on 19 July 2007 of its proposed cash offer for 100 per cent of the issued share capital of Kimberley Diamond Company NL ("Kimberley"), the Board of Gem Diamonds announces that at its Extraordinary General Meeting, convened and held Linklaters LLP, One Silk Street, London EC2Y 8HQ today, the 16th October 2007 at 3.30 p.m, the resolution to approve the acquisition of Kimberley, as outlined in the circular to shareholders dated 27 September 2007, was passed unanimously with 68.34% of the Company's register voting.
The voting on the resolutions was as follows:
Copies of the resolution will shortly be available for inspection at the UKLA Document Viewing Facility situated at: the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
For further information:
Gem Diamonds Limited
Tel: +44 203 043 0280
Gem Diamond Technical Services (Pty) Limited
Tel: +27 82 418 8735
Tel: +44 207 743 6376
About Gem Diamonds:
Gem Diamonds is a diamond mining company with a balanced portfolio of a producing kimberlite mine, two producing alluvial mines, development projects and longÃ¢â¬Âterm prospects. Established in July 2005, Gem Diamonds is pursuing an accelerated growth strategy and aims to become one of the worldÃÂ¹s leading diamond companies. Gem Diamonds currently has one producing kimberlite mine, LetÅ¡eng, in Lesotho, two producing alluvial mines Ã¢â¬Â Cempaka in Indonesia and Mbelenge in the Democratic Republic of Congo (DRC), a kimberlite development project in Botswana, two development projects in the DRC, one in the Central African Republic and an option to develop the Chiri kimberlite concession in Angola.
The Company recently made an offer to Kimberley Diamond Company's shareholders to acquire their shares in this company, which owns the Ellendale Mine in north Western Australia, and which was approved by Gem Diamonds' shareholders at an Extraordinary General Meeting on 16 October 2007.
Gem Diamonds currently has a specific focus towards higher value diamonds, a segment of the market that its management believes will deliver superior long term returns.
For further information about Gem Diamonds visitÂ www.gemdiamonds.com.