REG-Petra Diamonds: Related Party Transaction

Petra DiamondsAnnouncement

27/09/2022 07:15

27 September 2022   LSE: PDL 

Petra Diamonds Limited

("Petra", the "Company")

Related Party Transaction

Petra today announces that Vontobel Asset Management AG ("Vontobel") has
participated in the tender offer process of Petra Diamonds US$ Treasury Plc's
("PDUST") Senior Secured Second Lien Notes due 2026 (the "Notes") pursuant to
a tender offer memorandum dated 13 September 2022 (the "Tender Offer").
Vontobel submitted tender instructions for the Notes which PDUST accepted on
26 September 2022. The total consideration to be received by Vontobel for such
Notes shall be US$11,900,000. The expected settlement date for the transaction
with Vontobel is 28 September 2022. PDUST is a wholly-owned subsidiary of
Petra.

As Vontobel is a related party of Petra for the purposes of the Listing Rules,
the participation of Vontobel in the Tender Offer (the "Vontobel Transaction")
is a transaction of the kind covered by LR 11.1.10R. The Company's sponsor has
provided written confirmation that the terms of the Vontobel Transaction are
fair and reasonable insofar as the Company's shareholders are concerned.

~ Ends ~

For further information, please contact:

Petra Diamonds, London                  Telephone: +44 20
7494 8203

Patrick Pittaway                     
            investorrelations@petradiamonds.com         

Jill Sherratt

Julia Stone

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 Group’s
portfolio incorporates interests in three underground producing mines in South
Africa (Finsch, Cullinan Mine 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. 226.6 million carats, 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 Group 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 Group’s US$336.7 million 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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