REG-Petra Diamonds: Director Share Awards

Petra DiamondsAnnouncement

14/12/2022 07:15

14 December 2022   LSE: PDL 

Petra Diamonds Limited
(Petra or the Company)

Director Share Awards

Petra announces the grant of performance based share awards under the
Company's 2021 Performance Share Plan ("2021 PSP") over ordinary shares in the
Company.

This award follows the shareholders’ approval of amendments to the
Company’s Directors’ Remuneration Policy and 2021 PSP rules at the AGM on
16 November 2022 which enabled an enhanced PSP award to be made for FY 2023 of
300% of salary for the CEO and 225% of salary for the CFO.   This enhanced
award level will apply for FY 2023 only.

The awards made are as follows, with full vesting of the maximum award
requiring performance conditions to be met in full:

 Director             Position   FY 2023 PSP award 
 Richard Duffy           CEO             1,236,688 
 Jacques Breytenbach     CFO               618,344 

Notes:

1.      The 30-day VWAP to 16 November 2022 for the FY 2023 PSP awards is
110.8 pence per share.

2.      All awards under the 2021 PSP are granted as conditional awards
over ordinary shares in Petra of 0.05 pence each.

3.      The FY2023-25 awards under the 2021 PSP are subject to
performance conditions based on (i) 30% linked to absolute and relative total
shareholder return; (ii) 30% linked to operational free cashflow and net debt
to EBITDA ratio; (iii) 25% linked to operational performance and efficiencies;
and (iv) 15% linked to ESG and sustainability measures.

4.      Further details regarding the share awards are set out within the
Directors' Remuneration Report within the Company's 2022 Annual Report.

5.      No consideration was payable for the grant of the awards.

6.      The grant of these awards does not affect Petra's Total Voting
Rights.

 This announcement is made in accordance with Article 19 of the EU Market
Abuse Regulation.

 1.        Details of the person discharging managerial responsibilities / person closely associated                                                                                                             
 a.        Name                                                                                               Richard Duffy                                                                                      
 2.        Reason for the notification                                                                                                                                                                           
 a.        Position/status                                                                                    Chief Executive Officer                                                                            
 b.        Initial notification/Amendment                                                                     Initial Notification                                                                               
 3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                         
 a.        Name                                                                                               Petra Diamonds Limited                                                                             
 b.        LEI                                                                                                213800X4QZIAVSA12860                                                                               
 4.        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, type of instrument Identification code                    Ordinary shares of 0.05p per share par value   BMG702782084                                        
 b.        Nature of the transaction                                                                          Grant of performance based share awards                                                            
 c.        Price(s) and volume(s)                                                                                                                                                                                
 Price(s)  Volume(s)                                                                                          
 Nil       1,236,688                                                                                          
 d.        Aggregated information · Aggregated volume · Price                                                 1,236,688 Nil                                                                                      
 e.        Date of the transaction                                                                            13 December 2022                                                                                   
    a.     Place of the transaction                                                                           London Stock Exchange, Main Market (XLON)                                                          

   

 1.        Details of the person discharging managerial responsibilities / person closely associated                                                                                                             
 a.        Name                                                                                               Jacques Breytenbach                                                                                
 2.        Reason for the notification                                                                                                                                                                           
 a.        Position/status                                                                                    Chief Financial Officer                                                                            
 b.        Initial notification/Amendment                                                                     Initial Notification                                                                               
 3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                         
 a.        Name                                                                                               Petra Diamonds Limited                                                                             
 b.        LEI                                                                                                213800X4QZIAVSA12860                                                                               
 4.        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, type of instrument Identification code                    Ordinary shares of 0.05p per share par value   BMG702782084                                        
 b.        Nature of the transaction                                                                          Grant of performance based share awards                                                            
 c.        Price(s) and volume(s)                                                                                                                                                                                
 Price(s)  Volume(s)                                                                                          
 Nil       618,344                                                                                            
 d.        Aggregated information · Aggregated volume · Price                                                 618,344 Nil                                                                                        
 e.        Date of the transaction                                                                            13 December 2022                                                                                   

~ Ends ~

For further information, please contact:

Petra Diamonds,
London                                        
Telephone: +44 20 7494 8203
Patrick Pittaway
Julia Stone 
                                       
            investorrelations@petradiamonds.com

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a supplier of
gem quality rough diamonds to the international market. The Company’s
portfolio incorporates interests in three underground producing mines in South
Africa (the Finsch, Cullinan and Koffiefontein Mines) 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
which supports the potential for long-life operations.

Petra strives to conduct all operations according to the highest ethical
standards and only operates 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'. The Company’s loan notes due in 2026 are
listed on the Irish Stock Exchange and admitted to trading on the Global
Exchange Market. For more information, visit www.petradiamonds.com.



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