Gemfields Group Limited has completed its entirely underwritten Rights Issue, generating approximately USD 30 million by issuing 556,203,396 New Shares. The announcement of the capital raise was first made on April 11, 2025.

The Rights Issue attracted strong interest from investors, with valid acceptances recorded for 458,330,512 New Shares, which accounts for approximately 82.40% of the total shares offered. The underwriters of the issue will cover the remaining 97,872,884 New Shares. Assore International Holdings Limited (“AIH”) is set to acquire 63,910,993 New Shares, while Rational Expectations (Pty) Ltd (“Rational”) will take 33,961,891 New Shares, both surpassing their respective pro-rata entitlements.

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The admission of the fully paid New Shares to trading on the AIM market took place at 08:00 am (London time) this morning, June 13, 2025. Uncertificated New Shares are expected to be credited to CREST stock accounts shortly after admission, and definitive share certificates for those in certificated form will be dispatched within ten business days.

For Qualifying South African Shareholders (or their renouncees) holding shares in dematerialised form, CSDP or broker accounts will be credited with the New Shares at 09:00 (SAST) today. Those in certificated form who provided account details and did not opt for “rematerialisation” will also see credits at 09:00 (SAST). Shareholders who have not provided the required account details will have their New Shares held by the SA Registrar pending confirmation. Meanwhile, Documents of Title for shareholders who elected to rematerialise their New Shares will be posted as soon as possible from today, Friday, June 13, 2025.