Petra Diamonds Ltd.

Share Issue/Capital Change • Oct 16, 2018

National Storage Mechanism | Additional information

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RNS Number : 1014E

Petra Diamonds Limited

16 October 2018

16 October 2018	LSE: PDL

Petra Diamonds Limited

("Petra," "the Company")

Director Share Awards

Petra Diamonds Limited announces that the Executive Directors of the Company have been granted deferred awards over ordinary shares in the Company under the annual performance bonus plan.

The deferred share awards, representing 100% of the total bonus in respect of performance for the financial year ended 30 June 2018, are as follows:

Director	Position	Deferred shares awarded1,2
Johan Dippenaar	Chief Executive Officer	272,347
Jacques Breytenbach	Finance Director	93,034
Jim Davidson	Technical Director (to 30 June 2018)	219,859

The Company also announces the grant 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 2019 PSP award1,3
Johan Dippenaar	Chief Executive Officer	618,000
Jacques Breytenbach	Finance Director	433,333

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 are deferred for two years; 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 operational performance (40%) and project delivery (10%). Vesting will be based on performance measured over the three years FY 2019 to FY 2021.

4.      Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2018 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.

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

Cornelia Grant

Marianna Bowes                                                         [email protected]

Salisha Ilyas

Buchanan                                                                  Telephone: +44 20 7466 5000

(PR Adviser)

Bobby Morse                                                               [email protected]          

About Petra Diamonds Limited 

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson).  It announced in July 2018 the proposed disposal of its interest in the Kimberley Ekapa Mining JV in South Africa. It also maintains an exploration programme in Botswana and South Africa, which is currently under review.

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. 290 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate 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' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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