REG-Petra Diamonds Limited: Completion of the Refinancing and PDMR Notifications
28/11/2025 17:45
FOR IMMEDIATE RELEASE.
28 November 2025 LSE: PDL
Petra Diamonds Limited
("Petra", "the Company" or "the Group")
Completion of the Refinancing and PDMR Notifications
Petra Diamonds Limited is pleased to announce that, following completion of
all of the implementation steps under the Implementation Deed, the
Restructuring Effective Date has occurred and all remaining conditions to the
Group's Refinancing have completed in full.
In accordance with the terms of the Refinancing:
* the Incentivisation Warrants approved by the Board under the
Incentivisation Plan have now been granted to the relevant participants, with
one-third of such warrants vesting;
* the Work Fee Warrants have been granted to members of the Working
Group; and
* the Amended and Restated Indenture is now
operative.
Capitalised terms not otherwise defined in this announcement shall have the
meanings given to them in the combined prospectus and circular dated 17
October 2025 published by the Company (the " Prospectus
").
Further to the Company's announcement on 27 November 2025, the Company's share
capital consists of 319,861,762 Ordinary Shares of 0.05 pence each in issue
with voting rights, none of which are held in treasury. Therefore, the total
number of voting rights in Petra is 319,861,762.
Vivek Gadodia and Juan Kemp, Joint CEOs of Petra, commented:
“The completion of the Refinancing is a pivotal moment for the Company
enabling us to continue with the capital development that we believe will
unlock sustainable value for all of our stakeholders going forward.
We would like to thank our noteholders, lender and shareholders in getting to
this milestone and for their continued support.”
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name José Manuel Vargas
2 Reason for the notification
(a) Position/status Non-Executive Director
(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 Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084
(b) Nature of the transaction Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 3,750,000 3,750,000
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name José Manuel Vargas
2 Reason for the notification
(a) Position/status Non-Executive Director
(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 ISIN: BMG702782084
(b) Nature of the transaction Vesting of warrants granted under Petra Diamonds Limited Warrant Incentive Plan
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 1,248,750 1,248,750
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name Vivek Gadodia
2 Reason for the notification
(a) Position/status Joint 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 Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084
(b) Nature of the transaction Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 3,750,000 3,750,000
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name Vivek Gadodia
2 Reason for the notification
(a) Position/status Joint 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 ISIN: BMG702782084
(b) Nature of the transaction Vesting of warrants under Petra Diamonds Limited Warrant Incentive Plan
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 1,248,750 1,248,750
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name Jozephus Kemp
2 Reason for the notification
(a) Position/status Joint 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 Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084
(b) Nature of the transaction Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 3,750,000 3,750,000
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name Jozephus Kemp
2 Reason for the notification
(a) Position/status Joint 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 ISIN: BMG702782084
(b) Nature of the transaction Vesting of warrants under Petra Diamonds Limited Warrant Incentive Plan
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 1,248,750 1,248,750
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name José Manuel Vargas
2 Reason for the notification
(a) Position/status Non-Executive Director
(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 Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084
(b) Nature of the transaction Grant of work fee warrants in connection with the Refinancing
(c) Price(s) and volume(s)
Price(s) Volume(s) Total
0 1,240,000 1,240,000
(d) Aggregated information N/A
(e) Date of the transaction 28 November 2025
(f) Place of the transaction London Stock Exchange, Main Market (XLON)
~ Ends ~
For further information, please contact:
Petra Diamonds, London
Julia Stone
Kelsey Traynor
Telephone: +44 (0)7495470187
investorrelations@petradiamonds.com
Peel Hunt LLP (Sponsor to Petra)
Ross Allister / David McKeown / Emily Bhasin
+44 (0)20 7418 8900
Herbert Smith Freehills Kramer LLP is acting as legal counsel to Petra in
connection with the Refinancing.
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 two underground
mines in South Africa (Cullinan Mine
and Finsch).
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's Ordinary Shares are admitted to the equity shares (commercial
companies) category of the FCA's Official List and are admitted to trading on
the Main Market of the London Stock Exchange
under the ticker "PDL". The Company's loan notes, due in 2026, are
listed on Euronext Dublin (Irish Stock Exchange). For more information, visit
www.petradiamonds.com
.
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