Gemfields Announces Proposed Rights Issue Amid Losses
Why we think this is bad
The RNS indicates that Gemfields is expecting a loss per share of USDc 7.0 for the year ended 31 December 2024, which is significantly below the prior year's loss per share of USDc 0.8. This suggests the company's financial performance has deteriorated, leading to a BAD sentiment score.
Key Points
- Gemfields to seek shareholder approval for a USD 30 million Rights Issue
- Expected loss per share of USDc 7.0 for the year ended 31 December 2024, compared to USDc 0.8 in the prior year
Summary
The mining company announces a proposed rights issue to raise funds as it reports expected losses for the year.
Gemfields Group Limited announces it will be seeking shareholder approval for a fully committed and underwritten Rights Issue to raise approximately USD 30 million. The company also expects to report a loss per share of USDc 7.0 for the year ended 31 December 2024, compared to a loss per share of USDc 0.8 in the prior year.
Key Dates
11 April 2025
Release of Full Year Results and Annual Report
11 April 2025
Extraordinary General Meeting to approve Proposed Rights Issue
TRADING UPDATE