Gem Diamonds Limited
24 September 2007
24 September 2007
GEM DIAMONDS LIMITED
('Gem Diamonds' or the 'Company')
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
Gem Diamonds (LSE: GEMD) is pleased to confirm the appointment of Lord Renwick
of Clifton as a Non-Executive Director of the Company with effect from 24
September 2007.
Lord Renwick served at an important time as British Ambassador to South Africa
and, subsequently, as British Ambassador to the United States.
He is Vice Chairman, Investment Banking, of JPMorgan Europe and Vice Chairman of
JPMorgan Cazenove. He is a Non-Executive Director of Compagnie Financiere
Richemont, Fluor Corporation, Kazakhmys plc and SABMiller plc. Lord Renwick
served previously on the boards of BHP Billiton, British Airways and Liberty
International.
Gem Diamonds, Chief Executive Officer, Clifford Elphick, commented:
'At the time of our IPO, the Board of Gem Diamonds committed to the shareholders
that they intended both to separate the role of Chairman and Chief Executive
Officer within twelve months and to appoint at least one further Non-Executive
Director within six months. We are delighted to welcome Lord Renwick to the
Board of Gem Diamonds which fulfils these commitments made to the shareholders.
Lord Renwick will bring enormous benefits to the Company, with his international
experience, strategic vision and extensive experience with growth companies. We
look forward to making the most of his valuable contribution.'
For further information:
Gem Diamond Technical Services (Pty) Limited
Clifford Elphick
Angela Parr
Tel: +27 83 578 3885
Pelham PR
Candice Sgroi
Tel: +44 207 743 6376
Regulatory Disclosure Note:
Other than the directorships disclosed above there are no other disclosures
required under Listing Rule 9.6.13.
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 long-term prospects. Established in July 2005, Gem Diamonds is pursuing an
accelerated growth strategy and aims to become one of the world's leading
diamond companies. Gem Diamonds currently has one producing kimberlite mine,
Letseng, in Lesotho, two producing alluvial mines - 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.
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 visit www.gemdiamonds.com.
This information is provided by RNS
The company news service from the London Stock Exchange