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12 Jan 2022 14:19
Petra Diamonds Ltd - Director Share VestingPetra Diamonds Ltd - Director Share Vesting
PR Newswire
London, January 12
| 12 January 2022 | LSE:PDL |
Petra Diamonds Limited
("Petra" or the "Company")
Director Share Vesting
Petra Diamonds Limited announces the approval of the vesting of the following shares:
Originally granted on 16 October 2018, deferred awards (“2018 Deferred shares”) over ordinary shares in the Company under the annual performance bonus plan; the Company has elected to settle via market purchased shares; Originally granted on 24 October 2019, deferred awards (“2019 Deferred shares”) over ordinary shares in the Company under the annual performance bonus plan; the Company has elected to settle via market purchased shares; and Originally granted on 4 October 2018 under the Company's 2012 Performance Share Plan ("2012 PSP") in respect of the period 1 July 2019 to 30 June 2021; the performance conditions were not met and the awards therefore lapsed in full;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 2021 Annual Report.
| Director | Position | 2018 Deferred shares Number of ordinary shares vested1,2 | 2019 Deferred shares Number of ordinary shares vested1,2 |
| Richard Duffy | Chief Executive | n/a | 2,338 |
| Jacques Breytenbach | Finance Director | 1,860 | 5,247 |
| Director | Position | 2012 PSP Number of ordinary shares vested1 | 2012 PSP Number of ordinary shares lapsed1,2 |
| Jacques Breytenbach | Finance Director | 0 | 8,666 |
Notes:
All awards under the 2012 PSP were granted as conditional awards over ordinary shares in Petra of 0.001p each; no consideration was payable for the grant of the awards. The number of previously approved awards have been adjusted in the same ratio as the share consolidation of one new share for every 50 existing shares in issue as voted on at the Company’s AGM on 19 November 2021 and which became effective on 29 November 2021.Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2021 Annual Report. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation.
~ Ends ~
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins
Des Kilalea
Julia Stone investorrelations@petradiamonds.com
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 three underground producing mines in South Africa (Finsch, Cullinan 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. 230 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 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 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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