Notification of Transactions of PDMR

RNS Number : 8717R

Petra Diamonds Limited

19 June 2018

 

19 June 2018

LSE: PDL

Petra Diamonds Limited

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

Notification of Transactions of PDMR

Petra Diamonds Limited was notified today that Johan Dippenaar, Chief Executive Officer, and Jim Davidson, Technical Director, have entered into individual personal loan arrangements ("Loans") with Equities First Holdings LLC (the "Lending Institution") and have provided security for the Loans in favour of the Lending Institution by way of a legal mortgage ("Security") over, respectively, 2,500,000 and 1,000,000 Ordinary Shares in the Company of 10 pence each ("Shares").

The purpose of the Loans granted to Mr Dippenaar and Mr Davidson is to enable them to follow their rights in full in respect of the Rights Issue, announced by the Company on 24 May 2018. The Loans are repayable in two years and contain reversionary rights in favour of Mr Dippenaar and Mr Davidson upon satisfaction of the Loans. A waiver has been granted by the Joint Bookrunners in relation to the 90 day Director irrevocable lock-up (details of which are set out in the prospectus dated 24 May 2018) in order to allow the grant of the Security.

The Directors' shareholding details are set out below:

	Johan Dippenaar		Jim Davidson
	Number of ordinary shares	Percentage of issued share capital	Number of ordinary shares	Percentage of issued share capital
Current holding	5,160,511	0.97%	4,934,506	0.93%
Security	2,500,000	0.47%	1,000,000	0.19%
Holding after Security	2,660,511	0.50%	3,934,506	0.74%
Rights Issue Shares being subscribed for	3,225,319		3,084,066
	5,885,830		7,018,572
Two year reversionary right	2,500,000		1,000,000
Holding after settlement of the Loan and release of the Shares	8,385,830	0.97%	8,018,572	0.93%

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Johan Dippenaar
b)	Position / status	Chief Executive Officer
c)	Initial notification / amendment	Initial Notification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument	Ordinary Shares of Petra Diamonds Limited (the "Company").
b)	Nature of the transaction	Mr Johan Dippenaar has granted security by way of a legal mortgage in favour of Equities First Holdings LLC over 2,500,000 ordinary shares of 10 pence each in the Company as security in connection with the Loan. Shareholding details are as per table above.
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 2,500,000
d)	Aggregated information Aggregated volume Price	2,500,000 ordinary shares N/A
e)	Date of the transaction	18 June 2018
f)	Place of the transaction	Outside trading venue

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Jim Davidson
b)	Position / status	Technical Director
c)	Initial notification / amendment	Initial Notification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument	Ordinary Shares of Petra Diamonds Limited (the "Company").
b)	Nature of the transaction	Mr Jim Davidson has granted security by way of a legal mortgage in favour of Equities First Holdings LLC over 1,000,000 ordinary shares of 10 pence each in the Company as security in connection with the Loan. Shareholding as per table above.
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 1,000,000
d)	Aggregated information Aggregated volume Price	1,000,000 ordinary shares N/A
e)	Date of the transaction	18 June 2018
f)	Place of the transaction	Outside trading venue

~ Ends ~

For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]

Cathy Malins                                                               [e-mail] 

Cornelia Grant                                                             [e-mail]

Buchanan                                                                  Telephone: [phone]

(PR Adviser)

Bobby Morse                                                               [e-mail]

Anna Michniewicz                                                      

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 five producing operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint venture (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson).  It also maintains an 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 the efficiency and profitability of its operations. The Group has a significant resource base in excess of 300 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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