Allotment of shares

RNS Number : 9651Q

GCM Resources PLC

22 April 2009

 



22 April 2009

Gem Diamonds Limited

('Gem Diamonds' or the 'Company')

Gem Diamonds (LSE:GEM) announces that following the publication of the Prospectus and the Circular dated 3 April 2009 in connection with the Placing of 75,000,000 new ordinary shares of US$ 0.01 each in the capital of the Company (the 'New Shares') and the approval of the Placing at the General Meeting held on 20 April 2009, the Board resolved on 21 April 2009 to allot and issue, subject to admission of the New Shares to the Official List of the Financial Services Authority and admission of such shares to trading on the London Stock Exchange's main market for listed securities ('Admission'), the New Shares in connection with the Placing.  Admission occurred at 8.00 a.m. on 22 April 2009. 

As outlined in the Prospectus, the Directors of the Company participated in the Placing as follows:

	Holding prior to Admission	% of issued share capital	Holding following Admission	% of issued share capital
Roger Davis	578,652	0.92	1,267,752	0.92
Clifford Elphick*	9,325,000	14.81	9,325,000	6.76
Alan Ashworth	10,000	0.02	21,900	0.02
Kevin Burford	458,333	0.73	458,333	0.33
Glenn Turner	600,000	0.95	600,000	0.43
Miklos Salamon	144,664	0.23	316,944	0.23
Gavin Beevers	148,164	0.24	188,164	0.14
Dave Elzas	144,664	0.23	144,664	0.10
Lord Renwick	NIL	NIL	60,000	0.04
Richard Williams	NIL	NIL	20,000	0.01

* Clifford 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.

The Company advises that its issued share capital now comprises 137,977,853 Ordinary Shares. The voting rights of these Shares are identical, with each Share carrying the right to one vote. The Company holds no Ordinary Shares in Treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company.

For further information, please contact:

Gem Diamonds Limited                        

Richard Chetwode, Investor Relations Manager            Tel: [phone]

André Confavreux, Company Secretary

Pelham PR                            

Candice Sgroi                                                                    Tel: [phone]

J.P. Morgan Cazenove                        

Patrick Magee/Neil Passmore                                         Tel: [phone]

 

END

 

 

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