Petra Diamonds Limited Director Share Vesting (5515V)

TIDMPDL

RNS Number : 5515V

Petra Diamonds Limited

03 November 2017

 
 3 November 2017   LSE: PDL 
 

Petra Diamonds Limited

("Petra," "the Company")

Director Share Vesting

Petra Diamonds Limited announces the approval of the following vesting and delivery of shares to the Executive Directors:

(i) originally granted on 28 November 2014 under the Company's 2012 Performance Share Plan ("2012 PSP") in respect of the period 1 July 2014 to 30 June 2017; and

(ii originally granted on 30 November 2015, deferred awards ("2015 Deferred shares") over ordinary shares in the Company under the annual performance bonus plan.

The number of vested shares in each case is set out below. Details with regards to the vesting level is further disclosed in the Directors' Remuneration Report within the Company's 2017 Annual Report.

 
 Director                  Position          2012 PSP         2012 PSP              2015 
                                                                                  Deferred 
                                              Number      Number of ordinary       shares 
                                            of ordinary     shares lapsed 
                                              shares                              Number of 
                                              vested                              ordinary 
                                                                                shares vested 
-------------------  -------------------  -------------  -------------------  --------------- 
 
                        Chief Executive 
   Johan Dippenaar      Officer                75,539           227,832             75,000 
-------------------  -------------------  -------------  -------------------  --------------- 
 
                        Technical 
   Jim Davidson         Director               60,980           183,920             60,545 
-------------------  -------------------  -------------  -------------------  --------------- 
 

Notes:

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

   2.   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: [phone] 

Cathy Malins [e-mail]

Buchanan Telephone: [phone]

(PR Adviser)

   Bobby Morse                                                               [e-mail] 
   Anna Michniewicz                                                       [e-mail] 

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

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November 03, 2017 09:31 ET (13:31 GMT)