Petra Diamonds Limited Notification of Transaction of PDMR (5767F)

TIDMPDL

RNS Number : 5767F

Petra Diamonds Limited

29 October 2018

 
 29 October 2018   LSE: PDL 
 

Petra Diamonds Limited

("Petra," "the Company")

Notification of Transaction of PDMR

On 27 October 2016 Petra Diamonds Limited announced that Johan Dippenaar, Chief Executive Officer had acquired 3,849,253 Shares in the Company. Mr Dippenaar has received an assessment from the authorities in respect of this transaction.

Petra Diamonds Limited has been notified today, that in order to settle this assessment Mr Dippenaar has entered into an individual personal loan arrangement ("Loan") with Equities First Holdings LLC (the "Lending Institution") and has provided security for the Loans in favour of the Lending Institution by way of a legal mortgage ("Security") over 1,830,000 Ordinary Shares in the Company of 10 pence each ("Shares"). The Loan is repayable in two years and contains reversionary rights in favour of Mr Dippenaar upon satisfaction of the Loan.

Mr Dippenaar's shareholding details are set out below:

 
                            Number of ordinary   Percentage of issued 
                             shares               share capital 
 Security announced 
  on 19 June 2018 in 
  connection with Rights 
  Issue                     2,500,000            0.29% 
                           -------------------  --------------------- 
 Security announced 
  above                     1,830,000            0.21% 
                           -------------------  --------------------- 
 Balance of shares          4,055,830            0.47% 
                           -------------------  --------------------- 
 Total holding after 
  loans settlement and 
  share release             8,385,830            0.97% 
                           -------------------  --------------------- 
 

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] 

Marianna Bowes [e-mail]

Salisha Ilyas

Buchanan Telephone: [phone]

(PR Adviser)

   Bobby Morse                                                               [e-mail] 

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). It announced in July 2018 the proposed disposal of its interest in the Kimberley Ekapa Mining JV in South Africa. It also maintains an exploration programme in Botswana and South Africa, which is currently under review.

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 of ca. 290 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate 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' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

DSHEASENADPPFFF

(END) Dow Jones Newswires

October 29, 2018 11:42 ET (15:42 GMT)