REG-Petra Diamonds: Directorate Changes

Petra DiamondsAnnouncement

17/11/2020 07:00

17 November 2020   LSE: PDL 

Petra Diamonds Limited

(“Petra”, “the Company”)

Directorate Changes

Petra Diamonds Limited announces that, as indicated in its announcement on 31
March 2020, Mr Tony Lowrie has today retired from the Board and his role as
Senior Independent Non-Executive Director of the Company, and is consequently
no longer a member of the Company’s Audit and Risk, Nomination and
Remuneration Committees.

Ms Varda Shine has assumed the role of Senior Independent Non-Executive
Director, effective today. Varda is an outstanding appointee given her deep
experience of the diamond industry, as well as the UK public company corporate
world, and her expertise in multi-stakeholder engagement.

She is currently a member of the Company’s Audit and Risk, HSE (Health,
Safety and Environment), Nomination and SED (Social, Ethics and Diversity)
Committees, as well as chairing the Company’s Remuneration Committee. As
such she has oversight of all the Company’s material risks and opportunities
and will be able to apply this expertise to the benefit of shareholders and
other stakeholders.

As previously indicated, Mr. Gordon Hamilton, Independent Non-executive
Director, will retire from the Board and as Chair of the Audit and Risk
Committee (“ARC”) at the conclusion of the FY 2021 Annual General Meeting.
A search process for his successor as Chair of the ARC has commenced.

Peter Hill, Petra’s Non-Executive Chairman, commented:

“Tony has brought all his experience in the equities, mining and African
markets to bear in his roles on the Board at Petra over the last eight years
and has demonstrated his profound support for the Company via the accumulation
of a significant shareholding. Tony oversaw the recent Chairman succession and
I have enjoyed working with him; he will be much missed. I welcome Varda to
her new role and look forward to working with her as we take Petra forward.”

For further information, please contact:

Petra Diamonds,
London                                        
Telephone: +44 20 7494 8203

Cathy
Malins                                                  
            investorrelations@petradiamonds.com

Marianna
Bowes                                                        
Des
Kilalea                                                                 

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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