Last checked at 16 Oct 2018 07:00
16 October 2018 | LSE: PDL |
Petra Diamonds Limited("Petra," "the Company")
Director Share Vesting
Petra Diamonds Limited announces the approval of the vesting of the following shares to the Executive Directors; the Company has elected to settle in cash and no shares will be issued to the Directors.
(i) originally granted on 6 October 2015 under the Company's 2012 Performance Share Plan ("2012 PSP") in respect of the period 1 July 2015 to 30 June 2018; and
(ii) originally granted on 6 October 2016, deferred awards ("2016 Deferred shares") over ordinary shares in the Company under the annual performance bonus plan.
The number of vested shares in each case is set out below. Details with regards to the vesting level is further disclosed in the Directors' Remuneration Report within the Company's 2018 Annual Report.
Director | Position | 2012 PSP
Number of ordinary shares vested 1,2 | 2012 PSP
Number of ordinary shares lapsed 1,2 | 2016 Deferred shares
Number of ordinary shares vested 2 |
Johan Dippenaar
|
Chief Executive Officer
|
105,307 |
496,445 |
75,156 |
Jim Davidson |
Technical Director (to 30 June 2018)
|
85,010 |
400,762 |
60,670 |
Notes:
1. All awards under the 2012 PSP were granted as conditional awards over ordinary shares in Petra of 10p each; no consideration was payable for the grant of the awards.
2. Original quantum's adjusted following the Rights Issue in June 2018, as further disclosed in the 2018 Annual Report.
This announcement is made under the UKLA's Disclosure and Transparency Rule 3.1.2R.
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For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cornelia Grant
Marianna Bowes investorrelations@petradiamonds.com
Salisha Ilyas
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse pdl@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). It announced in July 2018 the proposed disposal of its interest in the Kimberley Ekapa Mining JV in South Africa. It also maintains an exploration programme in Botswana and South Africa, which is currently under review.
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. 290 million carats, which supports the potential for long-life operations.
Petra conducts all operations according to the highest ethical standards and will only operate 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' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.