REG - Petra Diamonds - Directorate Changes

Petra DiamondsAnnouncement

27/03/2023 07:00

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RNS Number : 2082U  Petra Diamonds Limited  27 March 2023

 

 

 27 March 2023   LSE: PDL

 

Petra Diamonds Limited

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

 

Directorate Changes

 

Petra today announces that Octavia Matloa, independent Non-Executive Director,
will retire from the Board of Petra at the end of June 2023 having been an
independent Non-Executive Director since 2014.  Consequently, Octavia will
also step down as the Company's designated workforce engagement Non-Executive
Director, Chair of the Company's Social, Ethics & Diversity Committee and
member of the Company's Audit & Risk, Remuneration, Nomination and
Investment Committees, also with effect from the end of June 2023.

 

Lerato Molebatsi has been appointed as an independent Non-Executive Director
of the Company, effective 3 April 2023. Lerato will serve on Petra's Social,
Ethics & Diversity, Audit & Risk, Remuneration, Nomination and
Investment Committees and with effect from 1 July 2023, will become the
Company's designated workforce engagement Non-Executive Director and Chair of
the Company's Social, Ethics & Diversity Committee.

 

Lerato is currently the lead independent Non-Executive Director of the South
African Reserve Bank, having been appointed in 2019.  Lerato is also an
independent Non-Executive Director of Spur Corporation, the restaurant
franchiser listed on the Johannesburg Stock Exchange where she is also Chair
of the Social, Ethics and Environmental Sustainability Committee. She is a
member of the Remuneration Committee of South Africa's Financial Sector
Conduct Authority; prior to this, Lerato was deputy Chair of the Adrian Group,
a Kenyan telecommunications company.

 

Lerato was previously: CEO of General Electric South Africa from 2016 until
2019, having joined General Electric in 2015 as their Director for Government
Affairs and Policy for Southern Africa; Executive Vice President,
Communications and Public Affairs at Lonmin plc; Deputy Director General,
Corporate Services at South Africa's Department of Labour; and Special Advisor
to South Africa's Minister of Transport.  She has also held senior positions
at Old Mutual and Sanlam, including in corporate communications, public
affairs and corporate social investment; Lerato has a strong background in
Board governance and ESG matters.

 

Lerato, a South African citizen, holds a BA in Psychology from the University
of Johannesburg in South Africa, attended the Senior Executive Leadership
Programme for Africa at Harvard University in the USA and has diplomas from
the Senior Management Development Programme (University of Stellenbosch
Business School) and Rural Development Programme (University of
Witwatersrand).

 

Peter Hill, Non-Executive Chairman of Petra Diamonds commented:

"We very much appreciate the significant contribution Octavia has made to the
Board during her long service, particularly on financial and audit matters and
since 2019 as inaugural Chair of the Social, Ethics & Diversity Committee
and since 2020 as Petra's inaugural designated workforce engagement
Non-Executive Director.  When Octavia retires from the Board at the end of
June 2023, she does so with our thanks and appreciation, and with all best
wishes for the future.

 

I am delighted to welcome Lerato to the Petra Board.  Lerato has extensive
executive and non-executive experience across a range of sectors, primarily in
South Africa where the majority of our operations are located, including in
corporate communications/public affairs, stakeholder relations, corporate
social investments, policy development, black economic empowerment and
governance, all of which will greatly assist in the strategic development of
the Company."

 

~ Ends ~

 

 

 

 

For further information, please contact:

 

Petra Diamonds,
London
Telephone: +44 20 7494 8203

Patrick
Pittaway
investorrelations@petradiamonds.com
(mailto:investorrelations@petradiamonds.com)

Julia Stone

 

 

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 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
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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