Gemfields launches rights issue to raise USD30m

Gemfields has launched a rights issue to raise approximately USD30 million through the issuance of 556,203,396 new shares. The rights issue, originally announced on April 11, 2025, offers 10 new shares for every 21 existing shares at a price of 4.22 pence or ZAR1.06860 per new share. The prospectus has received regulatory approval from the Johannesburg Stock Exchange (JSE) and the Financial Conduct Authority (FCA). Shareholders approved the necessary resolutions for the rights issue at an Extraordinary General Meeting on May 19, 2025. The prospectus and related documents are available on the Gemfields website. The offer opens May 29, 2025, and closes June 12, 2025. Panmure Liberum are underwriters for the offering.