REG-Petra Diamonds Ltd: Director Share Awards

Petra DiamondsAnnouncement

27/09/2024 07:15

 

 


 

 27 September 2024 LSE:PDL    

 

Petra Diamonds Limited

(Petra or the Company)

 

Director Share Awards

 

The Company announces the grant of performance-based share awards under the
Company's 2021 Performance Share Plan ("2021 PSP") over ordinary shares in the
Company.

 

The awards made are as follows, with full vesting of the maximum award
requiring performance conditions to be met in full:

 

 Director       Position         FY 2025 PSP award 1,2,3 , 4,5,6  
 Richard Duffy  Chief Executive  2,654,558                        

 

Notes:

1. The 30-day VWAP to 23 September 2024 for the 2021 PSP awards is 27.1 pence
per share.

2. All awards under the 2021 PSP are granted as conditional awards over
ordinary shares in Petra of 0.05 pence each.

3. The FY2025 award under the 2021 PSP is subject to performance conditions
based on (i) 30% linked to absolute total shareholder return (with reference
to 30-day VWAP at date of final award); (ii) 55% linked to cashflow generation
and resultant net debt profile measured over the three years FY2025 to FY2027;
and (iii) 15% linked to ESG and sustainability.

4. Further details regarding the share awards are set out within the
Directors' Remuneration Report within the Company's 2024 Annual Report.

5. No consideration was payable for the grant of the awards.

6. The grant of these awards does not affect Petra's Total Voting Rights.

 

 

 This announcement is made in accordance with Article 19 of the EU Market
Abuse Regulation.

 

 1.        Details of the person discharging managerial responsibilities / person closely associated                                                                                                             
 a.        Name                                                                                               Richard Duffy                                                                                      
 2.        Reason for the notification                                                                                                                                                                           
 a.        Position/status                                                                                    Chief Executive                                                                                    
 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 of 0.05p per share par value   BMG702782084                                        
 b.        Nature of the transaction                                                                          Grant of performance based share awards                                                            
 c.        Price(s) and volume(s)                                                                                                                                                                                
 Price(s)  Volume(s)                                                                                          
 Nil       2,654,558                                                                                          
 d.        Aggregated information * Aggregated volume                                                         2,654,558 Nil                                                                                      
           * Price                                                                                                                                                                                               
 e.        Date of the transaction                                                                            25 September 2024                                                                                  
 1.        Place of the transaction                                                                           London Stock Exchange, Main Market (XLON)                                                          

 

~ Ends ~

 

 

FURTHER INFORMATION

 

Petra Diamonds, London  +44 (0)784 192 0021

Patrick Pittaway   investorrelations@petradiamonds.com

Kelsey Traynor

 

                                                            

ABOUT PETRA DIAMONDS

 

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
(Cullinan Mine, Finsch and Koffiefontein) and one open pit mine in Tanzania
(Williamson). The Koffiefontein mine is currently on care and maintenance in
preparation for a possible sale following the execution of a definitive sales
agreement as announced on 8 April 2024.

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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