Incorporated in Guernsey. Guernsey registration Number: 47656.

South African external company registration number 2009/012636/10

Share code on JSE:GML  / AIM:GEM

    ISIN: GG00BG0KTL52   |   LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Company")

Change of Auditors

LONDON, 6 DECEMBER 2021

Following a competitive tender process and a recommendation from its Audit Committee, the Gemfields' Board resolved to appoint Ernst & Young LLP ("Ernst and Young") as its statutory auditors, commencing with the financial year ending 31 December 2022, subject to ratification by shareholders in the Company's 2022 Annual General Meeting.  The Board and the Audit Committee have taken the view that this change of auditors promotes good corporate governance given the long period that the incumbents, BDO LLP ("BDO"), have been in position. 

BDO will complete the Company's audit for the financial year ending 31 December 2021 and will formally resign thereafter. At this point, BDO remain in office. However, they expect to confirm that, upon their formal resignation, there will be no circumstances connected with their resignation which they consider should be brought to the attention of the members or creditors of the Company.   The Company's Board has also confirmed that there are no disagreements, or other matters of a similar nature, between the Company and BDO.

David Lovett, Gemfields' Chief Financial Officer, commented:

"On behalf of the Board, I would like to take this opportunity to thank BDO for its services and support during its many years as auditor to Gemfields. We look forward to working with Ernst and Young during the next phase of Gemfields' development."

-ENDS-

Further information on Gemfields Group Limited can be found at:

 GEMFIELDSGROUP.COM

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ADDITIONAL INFORMATION ON GEMFIELDS

Gemfields is a world-leading supplier of responsibly sourced coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Ethiopia and Madagascar.

Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage - enables Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones, advancing the wider group's "mine and market" vision.

Gemfields has developed a proprietary grading system and a pioneering auction and trading platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields' business model and has played an important role in the growth of the global coloured gemstone sector.

GEMFIELDS

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FABERGÉ

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KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN