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PDL Petra Diamonds Limited

40.90
0.875 (2.19%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petra Diamonds Limited LSE:PDL London Ordinary Share BMG702782084 ORD GBP0.0005 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.875 2.19% 40.90 39.05 40.60 41.00 40.00 41.00 47,391 16:20:48
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Petra Diamonds Limited Director Share Awards (5518V)

03/11/2017 1:32pm

UK Regulatory


Petra Diamonds (LSE:PDL)
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TIDMPDL

RNS Number : 5518V

Petra Diamonds Limited

03 November 2017

 
 3 November 2017   LSE: PDL 
 

Petra Diamonds Limited

("Petra," "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 are as follows and represent 100% of the total bonus in respect of performance for the financial year ended 30 June 2017.

 
 Director           Position                   Deferred shares 
                                                   awarded 
-----------------  -------------------------  ---------------- 
 Johan Dippenaar    Chief Executive Officer        76,302 
-----------------  -------------------------  ---------------- 
 Jim Davidson       Technical Director             61,596 
-----------------  -------------------------  ---------------- 
 

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 2018 PSP 
                                                award 
-----------------  -------------------------  ------------ 
 Johan Dippenaar    Chief Executive Officer      446,209 
-----------------  -------------------------  ------------ 
 Jim Davidson       Technical Director           360,208 
-----------------  -------------------------  ------------ 
 

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 will ordinarily vest on 30 June 2019; these awards may be settled using existing shares purchased in the market or in cash at the Company's discretion.

3. 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 operational performance (40%) and project delivery (10%). Vesting will be based on performance measured over three years.

4. Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2017 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. 
   7.      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 cathy.malins@petradiamonds.com

Buchanan Telephone: +44 20 7466 5000

(PR Adviser)

   Bobby Morse                                                               bobbym@buchanan.uk.com 
   Anna Michniewicz                                                       annam@buchanan.uk.com 

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 operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint venture (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana and South Africa.

Petra has a core objective to steadily increase annual production to 5.0 - 5.3 million from FY 2019 onwards. The Group has a significant 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 constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

November 03, 2017 09:32 ET (13:32 GMT)

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