Sign In
Last checked at 
28 Nov 2025 17:40
Petra Diamonds Limited - Completion of the Refinancing and PDMR NotificationsPetra Diamonds Limited - Completion of the Refinancing and PDMR Notifications
PR Newswire
LONDON, United Kingdom, November 28
FOR IMMEDIATE RELEASE.
|
|
|
|
|
|
| 28 November 2025 | LSE: PDL |
Petra Diamonds Limited
("Petra", "the Company" or "the Group")
Completion of the Refinancing and PDMR Notifications
Petra Diamonds Limited is pleased to announce that, following completion of all of the implementation steps under the Implementation Deed, the Restructuring Effective Date has occurred and all remaining conditions to the Group's Refinancing have completed in full.
In accordance with the terms of the Refinancing:
the Incentivisation Warrants approved by the Board under the Incentivisation Plan have now been granted to the relevant participants, with one-third of such warrants vesting;
the Work Fee Warrants have been granted to members of the Working Group; and
the Amended and Restated Indenture is now operative.
Capitalised terms not otherwise defined in this announcement shall have the meanings given to them in the combined prospectus and circular dated 17 October 2025 published by the Company (the " Prospectus ").
Further to the Company's announcement on 27 November 2025, the Company's share capital consists of 319,861,762 Ordinary Shares of 0.05 pence each in issue with voting rights, none of which are held in treasury. Therefore, the total number of voting rights in Petra is 319,861,762.
Vivek Gadodia and Juan Kemp, Joint CEOs of Petra, commented:
“The completion of the Refinancing is a pivotal moment for the Company enabling us to continue with the capital development that we believe will unlock sustainable value for all of our stakeholders going forward.
We would like to thank our noteholders, lender and shareholders in getting to this milestone and for their continued support.”
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | José Manuel Vargas | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Non-Executive Director
| |||||||
| (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 | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan
| |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
|
|
|
|
| ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | José Manuel Vargas | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Non-Executive Director
| |||||||
| (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 ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Vesting of warrants granted under Petra Diamonds Limited Warrant Incentive Plan | |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
|
|
|
|
| ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | Vivek Gadodia | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Joint Chief Executive Officer
| |||||||
| (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
| Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan | |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
|
|
|
|
| ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | Vivek Gadodia | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Joint Chief Executive Officer
| |||||||
| (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 ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Vesting of warrants under Petra Diamonds Limited Warrant Incentive Plan
| |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
|
|
|
|
| ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | Jozephus Kemp | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Joint Chief Executive Officer
| |||||||
| (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 | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan | |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
|
|
|
|
| ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | Jozephus Kemp | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Joint Chief Executive Officer
| |||||||
| (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 ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Vesting of warrants under Petra Diamonds Limited Warrant Incentive Plan | |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
|
|
|
|
| ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| (a) | Name | José Manuel Vargas | |||||||
| 2 | Reason for the notification | ||||||||
| (a) | Position/status | Non-Executive Director
| |||||||
| (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 | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 | |||||||
| (b) | Nature of the transaction | Grant of work fee warrants in connection with the Refinancing | |||||||
| (c) | Price(s) and volume(s) |
| |||||||
| (d) | Aggregated information | N/A | |||||||
| (e) | Date of the transaction | 28 November 2025
| |||||||
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| |||||||
~ Ends ~
For further information, please contact:
Petra Diamonds, London
Julia Stone
Kelsey Traynor
Telephone: +44 (0)7495470187
investorrelations@petradiamonds.com
Peel Hunt LLP (Sponsor to Petra)
Ross Allister / David McKeown / Emily Bhasin
+44 (0)20 7418 8900
Herbert Smith Freehills Kramer LLP is acting as legal counsel to Petra in connection with the Refinancing.
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 (Cullinan Mine and Finsch).
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's Ordinary Shares are admitted to the equity shares (commercial companies) category of the FCA's Official List and are admitted to trading 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 .
Follow the stocks
