Petra Diamonds Ltd.

Director's Dealing • Dec 23, 2013

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RNS Number : 1793W

Petra Diamonds Limited

23 December 2013

23 December 2013	LSE: PDL

Petra Diamonds Limited

("Petra" or the "Company")

Director Share Grants

Petra Diamonds Limited announces the grant on 20 December 2013 of performance based share awards under the Company's 2012 Performance Share Plan ("2012 PSP").

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

Director	Position	Maximum number of ordinary shares over which award granted
Johan Dippenaar	Chief Executive Officer	410,637
David Abery	Finance Director	382,317
Jim Davidson	Technical Director	382,317

Further details of the awards made on 20 December 2013 under the 2012 PSP will be provided in the Directors' Remuneration Report within the Company's 2014 Annual Report.

Notes:

1.   These 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 the period 1 July 2013 to 30 June 2016.

2.   All awards under the 2012 PSP are granted as conditional awards over ordinary shares in Petra of 10p each. 

3.   No consideration was payable for the grant of the awards.

4.   In accordance with the plan rules for the 2012 PSP, awards may be settled in cash or shares at the Company's discretion.

5.   The grant of these share awards does not affect Petra's Total Voting Rights until some or all of the awards vest and the underlying shares are issued.

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

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For further information, please contact:

Petra Diamonds (Corporate Communications)	Telephone: +44 20 7494 8203
Cathy Malins	[email protected]

Buchanan (PR Adviser)	Telephone: +44 20 7466 5000
Cornelia Browne Bobby Morse Louise Mason	[email protected] [email protected] [email protected]

RBC Capital Markets (Joint Broker)	Telephone: +44 20 7653 4000
Matthew Coakes Jonathan Hardy	[email protected] [email protected]

Canaccord Genuity Limited (Joint Broker)	Telephone: +44  20 7523 8000
Ryan Gaffney	[email protected]
Chris Fincken	[email protected]

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 six producing mines: five in South Africa (Finsch, Cullinan, Koffiefontein, Kimberley Underground and Helam) 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 member of the FTSE 250.

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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