24th Sep 2007 07:01
Gem Diamonds Limited24 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 Renwickof Clifton as a Non-Executive Director of the Company with effect from 24September 2007. Lord Renwick served at an important time as British Ambassador to South Africaand, subsequently, as British Ambassador to the United States. He is Vice Chairman, Investment Banking, of JPMorgan Europe and Vice Chairman ofJPMorgan Cazenove. He is a Non-Executive Director of Compagnie FinanciereRichemont, Fluor Corporation, Kazakhmys plc and SABMiller plc. Lord Renwickserved previously on the boards of BHP Billiton, British Airways and LibertyInternational. Gem Diamonds, Chief Executive Officer, Clifford Elphick, commented: "At the time of our IPO, the Board of Gem Diamonds committed to the shareholdersthat they intended both to separate the role of Chairman and Chief ExecutiveOfficer within twelve months and to appoint at least one further Non-ExecutiveDirector within six months. We are delighted to welcome Lord Renwick to theBoard of Gem Diamonds which fulfils these commitments made to the shareholders.Lord Renwick will bring enormous benefits to the Company, with his internationalexperience, strategic vision and extensive experience with growth companies. Welook forward to making the most of his valuable contribution." For further information: Gem Diamond Technical Services (Pty) LimitedClifford ElphickAngela ParrTel: +27 83 578 3885 Pelham PRCandice SgroiTel: +44 207 743 6376 Regulatory Disclosure Note: Other than the directorships disclosed above there are no other disclosuresrequired under Listing Rule 9.6.13. About Gem Diamonds Gem Diamonds is a diamond mining company with a balanced portfolio of aproducing kimberlite mine, two producing alluvial mines, development projectsand long-term prospects. Established in July 2005, Gem Diamonds is pursuing anaccelerated growth strategy and aims to become one of the world's leadingdiamond companies. Gem Diamonds currently has one producing kimberlite mine,Letseng, in Lesotho, two producing alluvial mines - Cempaka in Indonesia andMbelenge in the Democratic Republic of Congo (DRC), a kimberlite developmentproject in Botswana, two development projects in the DRC, one in the CentralAfrican Republic and an option to develop the Chiri kimberlite concession inAngola. The Company recently made an offer to Kimberley Diamond Company's shareholdersto acquire their shares in this company, which owns the Ellendale Mine in northWestern Australia. Gem Diamonds currently has a specific focus towards higher value diamonds, asegment of the market that its management believes will deliver superior longterm 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 ExchangeRelated Shares:
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