Director Share Vesting

RNS Number : 9960Q

Petra Diamonds Limited

24 October 2019

 

24 October 2019

LSE:PDL

Petra Diamonds Limited

("Petra" or the "Company")

Director Share Vesting

Petra Diamonds Limited announces the approval of the vesting of the following shares:

(i)       Originally granted on 7 October 2016 under the Company's 2012 Performance Share Plan ("2012 PSP") in respect of the period 1 July 2016 to 30 June 2019; the Company has elected to settle via the issuance of shares; and

(ii)       Originally granted on 7 October 2017, deferred awards ("2017 Deferred shares") over ordinary shares in the Company under the annual performance bonus plan; the Company has elected to cash settle.

The number of vested shares in each case is set out below. Details with regards to the vesting level is further disclosed in the Directors' Remuneration Report within the Company's 2019 Annual Report.

Director	Position	2012 PSP Number of ordinary shares vested 1	2012 PSP Number of ordinary shares lapsed 1	2017 Deferred shares Number of ordinary shares vested (Cash settlement value)
Johan Dippenaar	Chief Executive (to 31 March 2019)	62,304	313,022	92,680 (£7,322)
Jim Davidson	Technical Director (to 30 June 2018)	32,554	163,554	74,818 (£5,911)

Notes:

1.   All awards under the 2012 PSP were granted as conditional awards over ordinary shares in Petra of 10p each; no consideration was payable for the grant of the awards.

Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2019 Annual Report. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation.

~ Ends ~

For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]

Cathy Malins

Des Kilalea     

Marianna Bowes                                                         [e-mail]

Buchanan                                                                  Telephone: [phone]

(PR Adviser)

Bobby Morse

Ariadna Peretz                                                           [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). Petra also conducts a limited exploration programme in Botswana and South Africa.

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. 250 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. The Company's US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. For more information, visit www.petradiamonds.com.

 

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