REG-Petra Diamonds Ltd: Completion of sale of entire interest in Williamson Diamonds Limited

Petra DiamondsAnnouncement

14/05/2025 16:15

 


 

 

 14 May 2025  LSE: PDL  

 

Petra Diamonds Limited

(Petra or the Company)

 

 

Completion of sale of entire interest in Williamson Diamonds Limited

 

Further to the announcement made on 22 January 2025, Petra announces that it
has completed the sale of its entire shareholding in the entity that holds
Petra's interest in Williamson Diamonds Limited (WDL), together with all the
shareholder loans such entity owes Petra, to Pink Diamonds Investments Limited
(Pink Diamonds) for a headline consideration of up to U$16 million (the
Transaction).

 

The Transaction was completed following receipt of approval from the Tanzanian
Fair Competition Commission.

 

The consideration for the Transaction shall be payable by Pink Diamonds out of
WDL's distributable cash, with 20% of any distributable cash generated
annually payable to Petra until the consideration is fully paid.  Petra
intends to use any net proceeds received from the Transaction for general
corporate purposes.

 

Vivek Gadodia Joint Interim CEO commented: "We would like to thank the
Government of Tanzania for their partnership and support since Petra acquired
its interest in WDL in 2009 and to the Tanzanian Fair Competition Commission
for providing their approval of the transaction. Petra concluded it was
preferable for WDL to come under consolidated ownership, and we wish all the
best to Pink Diamonds as they take over the mine."

 

Further information

 

There has been no material change affecting any matter contained in the
announcement relating to the Transaction released by the Company on 22 January
2025.

 

For more information on the Transaction (including use of proceeds of the
Transaction and the background to and rationale for the Transaction), please
see the announcement released by the Company on 22 January 2025.

 

 

~ Ends ~

 

 

For further information, please contact:

 

 

 Petra Diamonds, London  Kelsey Traynor  Telephone: +447495 470187 investorrelations@petradiamonds.com  

 

 

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 two underground
mines in South Africa (Cullinan and Finsch Mines).

 

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 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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