REG-Petra Diamonds: Lock-Up Agreement accession results Early Bird Deadline

Petra DiamondsAnnouncement

03/12/2020 17:35

FOR IMMEDIATE RELEASE

 3 December 2020   LSE: PDL 

Petra Diamonds Limited

("Petra", "PDL" or the "Company" or, in conjunction with its subsidiaries, the
"Group")

Lock-Up Agreement accession results as at the Early Bird Deadline

The Company is pleased to announce that, as at the Early Bird Deadline, which
was on 1 December 2020, holders of the Group's US$650,000,000 7.25 per cent.
senior secured second lien notes due 1 May 2022 (the “Noteholders”)
representing over 75 per cent. of the aggregate principal amount of the Notes
Debt had entered into or acceded to the Lock-Up Agreement, which will require
these Noteholders to vote in favour of the scheme at the creditor meeting. To
confirm, in order to become effective the Scheme must be approved by a
majority in number of the Scheme Creditors, representing at least 75 per cent.
in value of the Scheme Creditors present and voting at the creditor meeting
ordered by the Court for the purposes of considering the Scheme. Further
details are set out in the announcement issued by the Company on
17 November 2020 and to the Practice Statement Letter distributed on the
same date the Noteholders, which is available on the Scheme Website at
www.lucid-is.com/petradiamonds/.

The Company is delighted that such a high proportion of Noteholders have
indicated their support for the Scheme and the proposed Restructuring. As per
the announcement issued by the Company on 2 December 2020, the next stage in
the Scheme timetable is the Scheme Convening Hearing, which is scheduled to
take place on 9 December 2020.

Capitalised terms used but not defined in this announcement have the meaning
given to them in the Practice Statement Letter.

~ Ends ~

For further information, please contact:

Petra Diamonds,
London                                        
Telephone: +44 20 7494 8203

Cathy
Malins                                                  
            investorrelations@petradiamonds.com

Des Kilalea     

Marianna Bowes 
                                                      

Rothschild & Co

Giles
Douglas                                                
            giles.douglas@rothschildandco.com

Glen
Cronin                                                    
            glen.cronin@rothschildandco.com

Mahir
Quraishi                                               
            mahir.quraishi@rothschildandco.com

Lucid Issuer Services
Limited                                
Telephone: +44 20 7704 0880

Sunjeeve
Patel                                              
            petradiamonds@lucid-is.com

David Shilson

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.

Important Notice

This announcement contains statements about Petra that are or may be forward
looking statements. All statements other than statements of historical facts
included in this announcement may be forward looking statements. Without
limitation, any statements preceded or followed by or that include the words
"targets", "goals", "should", "would", "could", "continue", "plans",
"believes", "expects", "aims", "intends", "will", "may", "anticipates",
"estimates", "hopes", "projects" or words or terms of similar substance or the
negative thereof, are forward looking statements.

Such forward looking statements involve risks and uncertainties that could
significantly affect expected results and are based on certain key
assumptions. Many factors could cause actual results to differ materially from
those projected or implied in any forward looking statements. Due to such
uncertainties and risks, readers are cautioned not to place undue reliance on
such forward looking statements, which speak only as of the date hereof. Petra
disclaims any obligation to update any forward looking or other statements
contained herein, except as required by applicable law or regulation.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States, except pursuant to an applicable
exemption from, or in a transaction not subject to, the registration
requirements of the United States and in compliance with any applicable
securities laws of any state or other jurisdiction of the United States.

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is acting
exclusively for Petra and no one else in connection with the contents of this
announcement and will not be responsible to anyone other than Petra for
providing the protections offered to clients of Rothschild & Co nor for
providing advice in relation to the subject matter of this announcement or any
other matters referred to in this announcement.



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