Petra Diamonds Ltd.

Director's Dealing • Oct 24, 2019

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RNS Number : 9958Q

Petra Diamonds Limited

24 October 2019

24 October 2019	LSE: PDL

Petra Diamonds Limited

("Petra" or 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 50% of the total annual performance bonus for the financial year ended 30 June 2019, are as follows:

Director	Position	Deferred shares awarded1,2
Richard Duffy	Chief Executive	116,926
Jacques Breytenbach	Finance Director	262,364
Johan Dippenaar	Chief Executive (to 31 March 2019)	374,1703

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 2020 PSP award1,4
Richard Duffy	Chief Executive	2,106,818
Jacques Breytenbach	Finance Director	1,506,818

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.      Mr. Dippenaar's 2019 settlement agreement included an undertaking that he would continue to serve as Chief Executive until a successor was appointed based on an open-ended departure date with a target of 30 June 2019.

4.      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 free cashflow generation (net of debt obligations) (25%); and operational performance (25%) measured over the three years FY 2020 to FY 2022.

5.      Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2019 Annual Report.

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

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

This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation.

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Richard Duffy

2.         

Reason for the notification

a.         

Position/status

Chief Executive

b.         

Initial notification/Amendment

Initial Notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.        

Name

Petra Diamonds Limited

b.        

LEI

213800X4QZIAVSA12860

4.         

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a.         

Description of the Financial instrument, type

of instrument

Identification code

Ordinary shares of 10p per share par value

BMG702781094

b.         

Nature of the transaction

Award of deferred shares

c.         

Price(s) and volume(s)

Price(s)	Volume(s)
17.60p	116,926

d.         

Aggregated information

·      Aggregated volume

·      Price

116,926

17.60p

e.         

Date of the transaction

24 October 2019

f.         

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

Richard Duffy

2.

Reason for the notification

a.

Position/status

Chief Executive

b.

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Petra Diamonds Limited

b.

LEI

213800X4QZIAVSA12860

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a.

Description of the Financial instrument, type

of instrument

Identification code

Ordinary shares of 10p per share par value

BMG702781094

b.

Nature of the transaction

Grant of performance based share awards

c.

Price(s) and volume(s)

Price(s)	Volume(s)
17.60p	2,106,818

d.

Aggregated information

·      Aggregated volume

·      Price

2,106,818

17.60p

e.

Date of the transaction

24 October 2019

g.        

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

Jacques Breytenbach

2.

Reason for the notification

a.

Position/status

Finance Director

b.

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Petra Diamonds Limited

b.

LEI

213800X4QZIAVSA12860

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a.

Description of the Financial instrument, type

of instrument

Identification code

Ordinary shares of 10p per share par value

BMG702781094

b.

Nature of the transaction

Award of deferred shares

c.

Price(s) and volume(s)

Price(s)	Volume(s)
17.60p	262,364

d.

Aggregated information

·      Aggregated volume

·      Price

262,364

17.60p

e.

Date of the transaction

24 October 2019

f.

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

Jacques Breytenbach

2.

Reason for the notification

a.

Position/status

Finance Director

b.

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Petra Diamonds Limited

b.

LEI

213800X4QZIAVSA12860

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a.

Description of the Financial instrument, type

of instrument

Identification code

Ordinary shares of 10p per share par value

BMG702781094

b.

Nature of the transaction

Grant of performance based share awards

c.

Price(s) and volume(s)

Price(s)	Volume(s)
17.60p	1,506,818

d.

Aggregated information

·      Aggregated volume

·      Price

1,506,818

17.60p

e.

Date of the transaction

24 October 2019

~ Ends ~

For further information, please contact:

Petra Diamonds, London                                         Telephone: +44 20 7494 8203

Cathy Malins

Des Kilalea     

Marianna Bowes                                                         [email protected]

Buchanan                                                                  Telephone: +44 20 746 5000

(PR Adviser)

Bobby Morse

Ariadna Peretz                                                           [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). Petra also conducts a limited exploration programme in Botswana and South Africa.

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. 250 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. The Company's US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. 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.

END

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