Business
Allotment and Issue of Shares
Allotment and Issue of Shares.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n RNS Number : 5846U Gem Diamonds Limited 26 June 2009 \n \n\n26 June 2009\n \nGem Diamonds Limited\n('Gem Diamonds' or 'the Company')\n\nAllotment and Issue of Ordinary Shares to Non-Executive Directors\n\nGem Diamonds (LSE:GEMD) announces that it has approved the requests of non-executive directors Lord Renwick of Clifton and Richard Williams MBE MC to take up their entitlements to shares in Gem Diamonds. \n\nThe Board agreed that the entitlement to shares, under the IPO in February 2007, could be postponed for up to two years from the date of their respective appointment.\n\nConsequently the Share Scheme Committee of the Board of Directors of Gem Diamonds has allotted and issued 144,664 Ordinary Shares in the capital of the Company ('Ordinary Shares') each to Lord Renwick of Clifton and Richard Williams MBE MC, non-Executive Directors, equally in accordance with the entitlement set out in the Prospectus published by the Company on 14 February 2007. \n\nA total of 289,328 Ordinary Shares will be subscribed for at the nominal value of US$0.01 each. \n\nThis is the final allotment and issue of shares to non-Executive Directors as permitted under the terms of the IPO. \n\nApplication has been made to the FSA and London Stock Exchange for listing and trading of the shares as at 29 June 2009. \n\nFor further information:\nGem Diamonds Limited\nAndre Confavreux, Company Secretary \nTel: +44 (0) 203 043 0280\nPelham PR\nCandice Sgroi \nTel: +44 (0) 207 337 1533\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END IOEEAEKKADANEFE \n ","length":4367,"tagName":"div"}]