5 Dec 2014 07:00
5 December 2014 | LSE: PDL |
Petra Diamonds Limited
("Petra" or the "Company" or the "Group")
Update - Refinancing of BEE partner loans
Petra Diamonds Limited announces that, further to the announcement of 25 November 2014 with regards to Absa Corporate and Investment Banking and RMB directly financing the Cullinan and Finsch Black Economic Empowerment ("BEE") Partners in respect of the loans due to Petra of R1,078 million (US$98.0 million), the transaction has now closed. The BEE partners have drawn down the full funds of R1,078 million and transferred to Petra treasury in settlement of their loans.
Note:
An exchange rate of US$1:R11.00 has been used for the purposes of this announcement, in line with the announcement of 25 November 2014.
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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 |
Buchanan (PR Adviser) | Telephone: +44 20 7466 5000 |
Bobby Morse Louise Mason | bobbym@buchanan.uk.com louisem@buchanan.uk.com |
RBC Capital Markets (Joint Broker) | Telephone: +44 20 7653 4000 |
Matthew Coakes Jonathan Hardy | matthew.coakes@rbccm.com jonathan.hardy@rbccm.com |
Barclays (Joint Broker) | Telephone: +44 20 7623 2323 |
Bertie Whitehead | bertie.whitehead@barclays.com |
Marcus Jackson | marcus.jackson@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 offers an exceptional growth profile, with a core objective to steadily increase annual production to 5 million carats by FY 2019. The Group has a major resource base in excess of 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 constituent of the FTSE 250 Index.
For more information, visit the Company's website at www.petradiamonds.com.
About Absa
Absa Corporate and Investment Banking, a division of Absa Bank Limited and a member of Barclays, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe. For more information, visit www.absacapital.com.
About RMB
RMB, a division of the FirstRand Bank Limited, is a leading diversified financial services brand encompassing investment banking, fund management, private wealth management and advisory services. The bank offers innovative financing solutions to its clients in South Africa and across Africa. For more information, visit www.rmb.co.za.
Petra Diamonds (PDL)