REG-Petra Diamonds: Appointment of Non-Executive Director

Petra DiamondsAnnouncement

22/12/2020 15:25

22 December 2020   LSE: PDL 

Petra Diamonds Limited

("Petra", the "Company" or, in conjunction with its subsidiaries, the "Group")

Appointment of Non-Executive Director

The Company is pleased to announce the prospective appointment of Mr. Matthew
Glowasky to the Board as a Non-Executive Director nominee appointed by Monarch
Master Funding 2 (Luxembourg) S.à r.l., a holder of Notes that is
participating in the Debt for Equity Conversion ("Monarch"). Mr. Glowasky will
also be a member of the 'Investment Committee' of the Board, which shall be
established with effect from the Restructuring Effective Date to monitor
significant capital and other investments. Mr. Glowasky's prospective
appointment to the Board is subject to the successful implementation of the
Consensual Restructuring and a further announcement confirming the date on
which he will formally assume office will be made in due course.

Mr. Glowasky's prospective appointment to the Board is pursuant to and in
accordance with a Nomination Agreement that has been executed between the
Company and Monarch.  Further details of the Nomination Agreement are
contained in the combined circular and prospectus published by the Company
today (the "Prospectus").

Mr. Glowasky has over five years of directorial experience in UK companies in
the health and social care sector and was a director of Latécoère S.A., a
publicly quoted company in France, between 2015 and 2019.

Mr. Glowasky is a director of the following companies, each of which entered
into solvent liquidation on 16 December 2020: (i) Aspenframe Limited; (ii)
Salco Homes Limited; and (iii) World Trade Properties Limited. Mr. Glowasky is
also a director of the following companies, each of which entered into solvent
liquidation on 17 December 2020: (i) Eagle View Care Home Limited; (ii)
Executive Health Care Limited; (iii) Express Care (Guest Services) Limited;
(iv) Express Care Limited; (v) Hillcrest Care Homes Limited; (vi) Primrose
Care Home Limited; (vii) Sovereign Guest Services Limited; (viii) System Cycle
Limited; and (ix) Windmill Hills Care Home Limited. Mr. Glowasky is a director
of Crossco (1332) Limited, which entered into solvent liquidation on 18
December 2020.

Mr. Glowasky is a director of Northwind Leisure Limited which was acquired by
Monarch on 26 November 2014, which has been in administration since 2 November
2015.

Save as set out above, there are no further matters which are required to be
disclosed pursuant to paragraph 9.6.13 of the Listing Rules.

The defined terms set out in the Prospectus apply in this Announcement.

~ Ends ~

For further information, please contact:

Petra Diamonds,
London                                        
Telephone: +44 20 7494 8203

Cathy
Malins                                                  
            investorrelations@petradiamonds.com

Des Kilalea

Marianna Bowes

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 mine in Tanzania (Williamson).

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. 243 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, currently subject to
restructuring, are listed on the Global Exchange market of the Irish Stock
Exchange. For more information, visit www.petradiamonds.com.



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