Petra Diamonds Ltd.

Management Reports • Sep 24, 2015

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RNS Number : 0989A

Petra Diamonds Limited

24 September 2015

24 September 2015	LSE: PDL

Petra Diamonds Limited

("Petra" or the "Company")

Director Share Vesting

Petra Diamonds Limited announces the approval on 23 September 2015 of the vesting and delivery of shares:

(i)        originally granted on 20 December 2012 under the Company's 2012 Performance Share Plan ("2012 PSP") in respect of the period 1 July 2012 to 30 June 2015; and

(ii)     originally granted on 15 May 2012 under the Company's 2011 Longer-Term Share Plan ("2011 LTSP") in respect of the period 1 July 2012 to 30 July 2015.

The number of vested shares in each case is set out below. Details with regards to the vesting level will be disclosed in the Directors' Remuneration Report within the Company's 2015 Annual Report.

Director	Position	2012 PSP Number of ordinary shares vested	2012 PSP Number of ordinary shares lapsed	2011 LTSP Number of ordinary shares vested
Johan Dippenaar	Chief Executive Officer	238,643	180,029	170,000
David Abery	Finance Director	222,185	167,613	170,000
Jim Davidson	Technical Director	222,185	167,613	170,000

The Company also announces that the deferred share awards over ordinary shares in respect of the bonus for the year ended 30 June 2013, as set out below and announced on 20 December 2013, vested on 23 September 2015.

Director	Role	Shares awarded
Johan Dippenaar	Chief Executive Officer	71,223
David Abery	Finance Director	66,311
Jim Davidson	Technical Director	66,311

Notes:

1.   All awards under the 2012 PSP and 2011 LTSP were granted as conditional awards over ordinary shares in Petra of 10p each; no consideration was payable for the grant of the awards.

2.  Up to 50% (equivalent to 200,000 shares) of the LTSP award is eligible for vesting based on performance measures assessed over the period 1 July 2012 to 30 June 2015; the balance of the LTSP award not vested to date may qualify for potential further vesting when measured for the period 1 July 2012 to 30 June 2016.

3.   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
Cathy Malins	[email protected]
Cornelia Grant	[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]

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 has a core objective to steadily increase annual production to ca. 5 million carats by FY 2019. The Group has a significant resource base of ca. 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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