REG-Petra Diamonds Ltd: Director Share Vesting

Petra DiamondsAnnouncement

27/09/2024 07:15

 

 


 

 27 September 2024 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 2021 to 30 June
2024. 

For Mr Duffy, the vested awards are subject to a 2-year post-vesting holding
period and for Mr Breytenbach, the vested awards are subject to a 2-year
post-termination holding period following his resignation effective 30
September 2024. Upon release at the end of the holding period, the vested
awards 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 2024 Annual Report.

 

 Director             Position                 2022 PSP Number of ordinary shares vested 1  2022 PSP Number of ordinary shares lapsed 1  
 Richard Duffy        Chief Executive Officer  167,976                                      585,279                                      
 Jacques Breytenbach  Chief Finance Officer    111,984                                      390,186                                      

 

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 2024 Annual Report. This announcement
is made in accordance with Article 19 of the EU Market Abuse Regulation.

 

~ 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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