REG - Petra Diamonds Ltd - Director Share Vesting

Petra DiamondsAnnouncement

19/10/2023 07:00

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RNS Number : 6535Q  Petra Diamonds Limited  19 October 2023

 

 

 

 19 October 2023  LSE:PDL

 

Petra Diamonds Limited

(Petra or the Company)

 

Director Share Vesting

Petra announces the approval of the vesting of certain shares in respect of
share awards originally granted on 12 January 2022 to Petra's Executive
Directors under the 2021 PSP in respect of the period 1 July 2020 to 30 June
2023.

The vested awards are subject to a 2-year holding period and, upon release at
the end of the holding period, may be settled using newly issued shares,
shares held in treasury, shares purchased in the market or in cash, at the
Company's discretion. The number of vested shares in each case is set out
below. Details of the vesting level is further disclosed in the Directors'
Remuneration Report within the Company's 2023 Annual Report.

 

 Director             Position                 2021 PSP                              2021 PSP

                                               Number of ordinary shares vested(1)   Number of ordinary shares lapsed(1)
 Richard Duffy        Chief Executive Officer  199,118                               439,078
 Jacques Breytenbach  Chief Finance Officer    142,411                               314,033

 

Note:

1.   All awards under the 2021 PSP were granted as conditional awards over
ordinary shares in Petra of 0.05p each; no consideration was payable for the
grant of the awards.

 

Further details regarding the share awards are set out within the Directors'
Remuneration Report within the Company's 2023 Annual Report. This announcement
is made in accordance with Article 19 of the EU Market Abuse Regulation.

 

~ Ends ~

 

 

For further information, please contact:

 

Investor Relations, London             Telephone: +44 20 7494
8203

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

Julia Stone

Kelsey Traynor

 

Financial PR (Camarco)

Gordon
Poole
Telephone: +44 20 3757 4980

Owen
Roberts
petradiamonds@camarco.co.uk (mailto:petradiamonds@camarco.co.uk)

Elfie Kent

 

 

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
(Finsch and Cullinan Mine) 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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