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27 September 2024
LSE:PDL
Petra Diamonds Limited
(Petra or the Company)
Director Share Awards
The Company announces the grant of performance-based share awards under the
Company's 2021 Performance Share Plan ("2021 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 2025 PSP award1,2,3,4,5,6|
+-------------+---------------+----------------------------+
|Richard Duffy|Chief Executive|2,654,558 |
+-------------+---------------+----------------------------+
Notes:
1.The 30-day VWAP to 23 September 2024 for the 2021 PSP awards is 27.1 pence per
share.
2.All awards under the 2021 PSP are granted as conditional awards over ordinary
shares in Petra of 0.05 pence each.
3.The FY2025 award under the 2021 PSP is subject to performance conditions based
on (i) 30% linked to absolute total shareholder return (with reference to 30-day
VWAP at date of final award); (ii) 55% linked to cashflow generation and
resultant net debt profile measured over the three years FY2025 to FY2027; and
(iii) 15% linked to ESG and sustainability.
4.Further details regarding the share awards are set out within the Directors'
Remuneration Report within the Company's 2024 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 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 |Initial Notification |
| |notification/Amendment| |
+---------------+----------------------+---------------------------------------+
|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 |Ordinary shares of 0.05p per share par |
| |Financial instrument, |value |
| |type | |
| | |BMG702782084 |
| |of instrument | |
| | | |
| |Identification code | |
+---------------+----------------------+---------------------------------------+
|b. |Nature of the |Grant of performance based share awards|
| |transaction | |
+---------------+----------------------+---------------------------------------+
|c. |Price(s) and volume(s)| |
| | |+--------+---------+ |
| | ||Price(s)|Volume(s)| |
| | |+--------+---------+ |
| | ||Nil |2,654,558| |
| | |+--------+---------+ |
+---------------+----------------------+---------------------------------------+
|d. |Aggregated information|2,654,558 |
| | | |
| | · Aggregated volume |Nil |
| | · Price | |
+---------------+----------------------+---------------------------------------+
|e. |Date of the |25 September 2024 |
| |transaction | |
+---------------+----------------------+---------------------------------------+
| |Place of the |London Stock Exchange, Main Market |
| a. |transaction |(XLON) |
| | | |
+---------------+----------------------+---------------------------------------+
~ Ends ~
FURTHER INFORMATION
Petra Diamonds, London+44 (0)784 192 0021
Patrick Pittawayinvestorrelations@petradiamonds.com
Kelsey Traynor
ABOUT PETRA DIAMONDS
Petra Diamonds is a leading independent diamond mining group and a supplier of
gem quality rough diamonds to the international market. The Company's portfolio
incorporates interests in three underground mines in South Africa (Cullinan
Mine, Finsch and Koffiefontein) and one open pit mine in Tanzania (Williamson).
The Koffiefontein mine is currently on care and maintenance in preparation for a
possible sale following the execution of a definitive sales agreement as
announced on 8 April 2024.
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
which supports the potential for long-life operations.
Petra strives to conduct all operations according to the highest ethical
standards and only operates 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'. The Company's loan notes due in 2026 are listed
on the Irish Stock Exchange and admitted to trading on the Global Exchange
Market. For more information, visit www.petradiamonds.com.
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Petra Diamonds Ltd.
Petra Diamonds Ltd - Director Share Awards
27th September 2024, 06:00
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