Petra Diamonds Ltd.

Management Reports • Oct 7, 2016

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RNS Number : 0000M

Petra Diamonds Limited

07 October 2016

7 October 2016	LSE: PDL

Petra Diamonds Limited

("Petra," "the Company" or "the Group")

Director Share Awards

Petra Diamonds Limited announces that on 6 October 2016 the Executive Directors of the Company were granted deferred awards over ordinary shares in the Company under the annual performance bonus plan.

The deferred share awards are as follows and represent 25% of the total bonus in respect of performance for the financial year ended 30 June 2016.

Director	Position	Deferred shares awarded
Johan Dippenaar	Chief Executive Officer	61,875
Jim Davidson	Technical Director	49,949
David Abery	Finance Director to 30 June 2016	49,949

The Company also announces the grant on 6 October 2016 of performance based share awards under the Company's 2012 Performance Share Plan ("2012 PSP") over ordinary shares in the Company:

The awards made are as follows, with full vesting of the maximum award requiring performance conditions to be met in full:

Director	Position	FY 2017 PSP award
Johan Dippenaar	Chief Executive Officer	309,000
Jim Davidson	Technical Director	242,179

Notes:

1.      All awards under the annual performance bonus plan and 2012 PSP are granted as conditional awards over ordinary shares in Petra of 10 pence each;

2.      The awards under the annual performance bonus plan will ordinarily vest on 30 June 2018, except for Mr David Abery's whose will vest on 30 June 2017 (in line with the agreed terms of his departure);  these awards may be settled using existing shares purchased in the market or in cash at the Company's discretion;

3.      The awards under the 2012 PSP are subject to performance conditions based on (i) absolute total shareholder return (25%); (ii) relative total shareholder return against mining and diamond industry peers (25%); and (iii) targets linked to delivery of the expansion programmes at the Company's various operations and operational performance (together 50%). Vesting will be based on performance measured over three years.

4.      Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2016 Annual Report;

5.      No consideration was payable for the grant of the awards;

6.      The grant of these awards does not affect Petra's Total Voting Rights;

7.      This announcement is made under the UKLA's Disclosure and Transparency Rule 3.1.2R.

~ Ends ~

For further information, please contact:

Petra Diamonds, London	Telephone: +44 20 7494 8203
Salisha Ilyas	[email protected]
Buchanan	Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse	[email protected]
Anna Michniewicz	[email protected]
RBC Capital Markets	Telephone: +44 20 7653 4000
(Joint Broker)
Matthew Coakes	[email protected]
Jonathan Hardy	[email protected]
Barclays	Telephone: +44 20 7623 2323
(Joint Broker)
Bertie Whitehead	[email protected]
Philip Drake	[email protected]
BMO Capital Markets	Telephone: +44 20 7236 1010
(Joint Broker)
Jeffrey Couch	[email protected]
Neil Haycock	[email protected]

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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 operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Operations (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana.

Petra has a core objective to steadily increase annual production to ca. 5.3 million carats by FY 2019. The Group has a significant 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 FTSE4Good Index. For more information, visit the Company's website at www.petradiamonds.com .

This information is provided by RNS

The company news service from the London Stock Exchange

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