Last checked at 17 Dec 2009 12:01
| Immediate Release | 17 December 2009 |
Petra Diamonds Limited
("Petra" or the "Company")
Result of Annual General Meeting
Petra Diamonds Limited today held its Annual General Meeting ("AGM") and is pleased to confirm that all resolutions proposed to shareholders were duly passed, including the resolution to increase the Company's authorised share capital to 400 million shares. Johan Dippenaar, CEO of Petra Diamonds, gave a presentation at the AGM and this is available on the Company's website: www.petradiamonds.com.
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For further information, please contact:
| Cathy Roberts | Telephone: +44 20 7318 0452 |
| Petra Diamonds, London | cathyr@petradiamonds.com |
| Bobby Morse / James Strong | Telephone: +44 20 7466 5000 |
| Buchanan Communications | bobbym@buchanan.uk.com jamess@buchanan.uk.com |
| James Duncan / Nicola Taylor | Telephone: +27 11 880 3924 |
| Russell & Associates | james@rair.co.za nicola@rair.co.za |
| Mike Jones / Ryan Gaffney | Telephone: +44 20 7050 6500 |
| Canaccord Adams | mike.jones@canaccordadams.com ryan.gaffney@canaccordadams.com |
About Petra Diamonds
Petra Diamonds is a leading supplier of rough diamonds. A number of acquisitions have established Petra as one of the world's largest independent diamond groups by resources, with a gross total resource base of 262 million carats. Petra increased its annual production fivefold in the year to June 2009 to over 1 million carats and the Company's objective is to continue to increase supply and develop its stature as a world-class diamond group.
In South Africa, Petra has interests in five producing mines - Cullinan, Koffiefontein, Helam, Sedibeng and Star - and has also agreed to acquire the Kimberley Underground mines from De Beers (this acquisition is expected to complete imminently). In Tanzania, Petra has an interest in the Williamson mine.
These mines are noted for the production of valuable diamonds, but in particular the Cullinan mine is famed as the source of the largest rough gem diamond ever found. More recently, an internally flawless, fancy vivid blue diamond of 7.03 carats from the Cullinan mine sold for US$9.4 million, or US$1.35 million per carat, in May 2009 and a white diamond of over 507 carats was recovered in September 2009. A 168 carat white diamond recovered in the same production series as the 507 carat diamond was sold on 26 November 2009 for US$6.28 million.
Petra conducts all its operations according to the highest ethical standards, and will only work in countries which are members of the Kimberley Process.
The Company is quoted on the AIM market of the London Stock Exchange (AIM: PDL).
www.petradiamonds.com