Last checked at 24 Sep 2015 11:41
24 September 2015 | LSE: PDL |
Petra Diamonds Limited
("Petra" or the "Company")
Director Share Vesting
Petra Diamonds Limited announces the approval on 23 September 2015 of the vesting and delivery of shares:
(i) originally granted on 20 December 2012 under the Company's 2012 Performance Share Plan ("2012 PSP") in respect of the period 1 July 2012 to 30 June 2015; and
(ii) originally granted on 15 May 2012 under the Company's 2011 Longer-Term Share Plan ("2011 LTSP") in respect of the period 1 July 2012 to 30 July 2015.
The number of vested shares in each case is set out below. Details with regards to the vesting level will be disclosed in the Directors' Remuneration Report within the Company's 2015 Annual Report.
Director | Position | 2012 PSP Number of ordinary shares vested | 2012 PSP Number of ordinary shares lapsed | 2011 LTSP Number of ordinary shares vested |
Johan Dippenaar | Chief Executive Officer | 238,643 | 180,029 | 170,000 |
David Abery | Finance Director | 222,185 | 167,613 | 170,000 |
Jim Davidson | Technical Director | 222,185 | 167,613 | 170,000 |
The Company also announces that the deferred share awards over ordinary shares in respect of the bonus for the year ended 30 June 2013, as set out below and announced on 20 December 2013, vested on 23 September 2015.
Director | Role | Shares awarded |
Johan Dippenaar | Chief Executive Officer | 71,223 |
David Abery | Finance Director | 66,311 |
Jim Davidson | Technical Director | 66,311 |
Notes:
1. All awards under the 2012 PSP and 2011 LTSP were granted as conditional awards over ordinary shares in Petra of 10p each; no consideration was payable for the grant of the awards.
2. Up to 50% (equivalent to 200,000 shares) of the LTSP award is eligible for vesting based on performance measures assessed over the period 1 July 2012 to 30 June 2015; the balance of the LTSP award not vested to date may qualify for potential further vesting when measured for the period 1 July 2012 to 30 June 2016.
3. 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 |
Cathy Malins | cathy.malins@petradiamonds.com |
Cornelia Grant | cornelia.grant@petradiamonds.com |
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Buchanan | Telephone: +44 20 7466 5000 |
(PR Adviser) |
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Bobby Morse | bobbym@buchanan.uk.com |
Anna Michniewicz | annam@buchanan.uk.com |
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RBC Capital Markets | Telephone: +44 20 7653 4000 |
(Joint Broker)
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Matthew Coakes | matthew.coakes@rbccm.com |
Jonathan Hardy | jonathan.hardy@rbccm.com |
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Barclays | Telephone: +44 20 7623 2323 |
(Joint Broker) |
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Bertie Whitehead | bertie.whitehead@barclays.com |
Philip Drake | philip.e.drake@barclays.com |
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in five producing mines: four in South Africa (Finsch, Cullinan, Koffiefontein and Kimberley Underground) and one in Tanzania (Williamson). It also maintains an exploration programme in Botswana.
Petra has a core objective to steadily increase annual production to ca. 5 million carats by FY 2019. The Group has a significant resource base of ca. 300 million carats.
Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a member of the FTSE 250. For more information, visit the Company's website at www.petradiamonds.com.