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RAPAPORT... Gem Diamonds appointed its newly named chief financial officer, Michael Michael, to the company's board. Michael has more than 20 years of experience in financial management. According to Gem Diamonds, since 2006, he has been closely involved with the financial aspects of the company's listing, financial reporting, management accounting and tax related to its initial public offering. Clifford Elphick, Gem Diamonds CEO, said, "Michael is well known to the market and to major shareholders and has spent a significant portion of his time communicating with analysts as well as attending investor road shows and presentations. Michael's intimate knowledge of the company will ensure a seamless transition into his role as chief financial officer and we wish him every success in his appointment to the Gem Diamonds' board." Shares in Gem Diamonds were trading 1.2 percent higher on the London Stock Exchange at 135.72 pence about one hour before the market closed.
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