REG-Petra Diamonds: Director Share Vesting

Petra DiamondsAnnouncement

11/10/2022 07:15

11 October 2022   LSE:PDL 

Petra Diamonds Limited

(Petra or the Company)

Director Share Vesting

Petra announces the approval of the vesting of certain shares in respect of
the following share awards:
1. share awards originally granted on 1 April 2019 to Richard Duffy on his
appointment as Chief Executive Officer (Appointment Award) under the Company's
2012 Performance Share Plan (2012 PSP) in respect of the period 1 July 2019 to
30 June 2022; and
2. share awards originally granted on 24 October 2019 to Petra’s Executive
Directors under the 2012 PSP in respect of the period 1 July 2019 to 30 June
2022. 
The vested awards are subject to a 2-year holding period and, upon release at
the end of the holding period, may be settled using newly issued shares,
shares held in treasury, shares purchased in the market or in cash, at the
Company's discretion. The number of vested shares in each case is set out
below. Details of the vesting level is further disclosed in the Directors'
Remuneration Report within the Company's 2022 Annual Report.

 Director                           Position                 2012 PSP  Number of ordinary shares vested (1,2)  2012 PSP  Number of ordinary shares lapsed (1,2)  
 Richard Duffy (Appointment Award)  Chief Executive Officer                       15,957                                              nil                        

   

 Director             Position                 2012 PSP  Number of ordinary shares vested (1,2)  2012 PSP  Number of ordinary shares lapsed (1,2)  
 Richard Duffy        Chief Executive Officer                       17,234                                            24,902                       
 Jacques Breytenbach  Chief Finance Officer                         12,326                                            17,810                       

Notes:
1. All awards under the 2012 PSP were granted as conditional awards over
ordinary shares in Petra of 0.05p each; no consideration was payable for the
grant of the awards.
2. The number of previously approved awards have been adjusted in the same
ratio as the Company’s 50:1 share consolidation which became effective on 29
November 2021.
Further details regarding the share awards are set out within the Directors'
Remuneration Report within the Company's 2022 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: +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
of ca. 226.6 million carats, 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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