Notification of Transaction of PDMR

RNS Number : 3149T

Petra Diamonds Limited

19 March 2019

 

19 March 2019

LSE: PDL

Petra Diamonds Limited

("Petra," the "Company" or the "Group")

Notification of Transaction of PDMR

Petra Diamonds Limited has been notified today that Johan Dippenaar, Chief Executive Officer, has increased the security for the individual loan arrangements ("Loans") as announced on 19 June 2018 and 26 October 2018 respectively, in favour of Equities First Holdings LLC ("the Lending Institution") by way of a legal mortgage ("Security") by an additional 300,000 Ordinary Shares in the Company of 10 pence each ("Shares").

The Loans are repayable in two years from the original date and contain reversionary rights in favour of Mr Dippenaar upon satisfaction of the Loan.

Mr Dippenaar's shareholding details are set out as below:

	Number of ordinary shares	Percentage of issued share capital
Security announced on 19 June 2018 in connection with Rights Issue	2,500,000	0.29%
Security announced 29 October 2018	1,830,000	0.21%
Increased security as announced 05 March 2019	700,000	0.08%
Increased security as announced today	300,000	0.03%
Total number of PDL shares offered as security	5,330,000	0.62%
Unencumbered balance of PDL shares held	3,055,830	0.35%
Total holding after loan settlement and share reversion and release	8,385,830	0.97%

This announcement is made under the UKLA's Disclosure and Transparency Rule 3.1.2R.

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For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]

Marianna Bowes                                                         [e-mail] 

Salisha Ilyas

Buchanan                                                                  Telephone: [phone]

(PR Adviser)

Bobby Morse                                                               [e-mail]

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana and South Africa, which is currently under review.

Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 290 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.

 

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