|
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
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 0.05p per share par value
BMG702782084
|
|
b.
|
Nature of
the transaction
|
Grant of
performance based share awards
|
|
c.
|
Price(s)
and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
2,654,558
|
|
|
d.
|
Aggregated
information
|
2,654,558
Nil
|
|
e.
|
Date of
the transaction
|
25
September 2024
|
-
|
Place of
the transaction
|
London
Stock Exchange, Main Market (XLON)
|
~
Ends ~
FURTHER
INFORMATION
Petra
Diamonds, London +44
(0)784 192 0021
Patrick Pittaway investorrelations@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.