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PDL Petra Diamonds Limited

40.60
0.575 (1.44%)
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
  0.575 1.44% 40.60 39.05 40.60 41.00 40.00 41.00 50,007 16:35:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Petra Diamonds Tender Offer

13/09/2022 7:01am

UK Regulatory


 
TIDMPDL 
 
13 September 2022                                                       LSE: PDL 
 
                            Petra Diamonds Limited 
                                   ("Petra") 
 
  Petra's wholly owned subsidiary, Petra Diamonds US$ Treasury Plc, has today 
         made the following announcement on the Irish Stock Exchange: 
 
FOR IMMEDIATE RELEASE 
 
This announcement is not an invitation to participate in a tender offer with 
respect to any Notes (as defined below). The Offer (as defined below) is being 
made solely pursuant to the Tender Offer Memorandum (as defined below) which 
sets forth the complete terms of the Offer. 
 
This announcement and any materials relating to the Offer do not constitute, 
and may not be used in connection with, any form of offer or solicitation in 
any place where such offers or solicitations are not permitted by law. 
 
The distribution of this announcement in certain jurisdictions may be 
restricted by law. Persons into whose possession this announcement comes are 
required to inform themselves about, and to observe, any such restrictions. 
 
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN 
DOUBT ABOUT THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT IMMEDIATELY YOUR 
STOCKBROKER, BANK MANAGER, SOLICITOR, ACCOUNTANT OR APPROPRIATELY AUTHORISED 
INDEPENT FINANCIAL ADVISER. 
 
                        Petra Diamonds US$ Treasury Plc 
 
                           Company Number: 09518557 
 
                                (the "Offeror") 
 
   Announces an Offer to Purchase for Cash in a Modified Dutch Auction up to 
     $150,000,000 in aggregate total cash consideration of its outstanding 
 $336,656,000 in aggregate notional principal amount of Senior Secured Second 
                              Lien Notes due 2026 
 
      (ISIN No. XS2289899242, Common Code 228989924 (Private Placement)) 
         (ISIN No. XS2289895927, Common Code 228989592 (Regulation S)) 
 
13 September 2022 
 
Petra Diamonds US$ Treasury Plc (the "Offeror") has today launched an offer 
(the "Offer") to holders (the "Noteholders") to submit tenders to sell to the 
Offeror for cash the $336,656,000 Senior Secured Second Lien Notes due 2026 
(the "Notes") up to a maximum consideration of $150,000,000 (the "Acceptance 
Consideration"), subject to the offer and distribution restrictions set out 
below, and upon the terms and subject to the conditions set forth in a tender 
offer memorandum dated September 13, 2022 (as it may be amended or supplemented 
from time to time, the "Tender Offer Memorandum") in accordance with a modified 
Dutch auction procedure. 
 
Capitalised terms used in this announcement but not otherwise defined have the 
meanings given to them in the Tender Offer Memorandum. Copies of the Tender 
Offer Memorandum are available, subject to the offer and distribution 
restrictions and registration, from the Offer Website: https:// 
deals.is.kroll.com/petradiamonds. 
 
Summary of the Offer 
 
 Description   ISIN/Common   Outstanding  Early Tender      Total          Total 
of                Code        Notional     Premium(2)   Consideration  Consideration 
the Notes                     Principal       (3)          (2)(3)       Acceptable 
                              Amount(1)                                Bid Range(2) 
                                                                            (3) 
 
              Private       $336,656,000      $50           To be         $970 to 
$336,656,000  Placement:                                 determined       $1,010 
in aggregate  ISIN:                                     pursuant to a 
  notional    XS2289899242                             modified Dutch 
  principal   Common code:                                 auction 
  amount of   228989924                                   procedure 
   Senior 
   Secured    Regulation S: 
 Second Lien  ISIN: 
  Notes due   XS2289895927 
 2026 (the "  Common code: 
   Notes")    228989592 
 
(1) Represents the notional outstanding principal amount. The actual principal 
amount after application of a pool factor of 1.14362 is $385,006,534.72. Unless 
stated otherwise, all references to outstanding principal in this announcement 
are to the notional outstanding principal amount prior to the application of 
the pool factor. 
 
(2) Per $1,000 of principal amount of Notes. 
 
(3) Total Consideration per $1,000 of principal amount of Notes includes the 
Early Tender Premium and will be multiplied by the pool factor of 1.14362. 
Total Consideration will only be paid to Noteholders validly tendering their 
Notes at or prior to the Early Participation Deadline and accepted by the 
Offeror. Noteholders validly tendering their Notes after the Early 
Participation Deadline and accepted by the Offeror will receive the Tender 
Consideration, which is equal to the Total Consideration minus the Early Tender 
Premium. 
 
The Offeror intends to accept for purchase validly tendered Notes up to the 
Acceptance Consideration. Acceptance of Notes tendered may be subject to 
scaling as described herein. The Offeror reserves the right, in its sole and 
absolute discretion, to amend the Acceptance Consideration to accept 
significantly more than or significantly less than the Acceptance 
Consideration, or to accept none of such Notes, for purchase pursuant to the 
Offer, not to accept any tender or purchase Notes or to modify in any manner 
any of the terms and conditions of the Offer. 
 
Tender Instructions submitted on or prior to the Early Participation Deadline 
will be accepted in priority to those Tender Instructions submitted after the 
Early Participation Deadline. 
 
Assuming the Acceptance Consideration has not been met at the Early 
Participation Deadline, Noteholders validly tendering their Notes after the 
Early Participation Deadline but on or prior to the Expiration Deadline will 
only be eligible to receive the Tender Consideration. The Offeror may choose 
not to accept any Tender Instructions submitted after the Early Participation 
Deadline. No accrued interest will be payable in addition to the Total 
Consideration. 
 
No accrued interest will be payable in addition to the Total Consideration or, 
with respect to Tender Instructions submitted after the Early Participation 
Deadline, the Tender Consideration. 
 
Rationale for the Offer 
 
The purpose of the Offer is to enable the Offeror to manage its overall funding 
level and to reduce its gross debt, while maintaining a prudent approach to 
liquidity. 
 
Total Consideration 
 
The Offeror will pay per $1,000 of principal amount (to be multiplied by a pool 
factor of 1.14362 (the "Pool Factor")) of the Notes validly tendered and 
accepted by it for purchase pursuant to the Offer a cash purchase price (the " 
Total Consideration"), as determined pursuant to the Modified Dutch Auction 
Procedure, as defined below. The Total Consideration will be not less than $970 
(the "Minimum Total Consideration") nor more than $1,010 (the "Maximum Total 
Consideration") per $1,000 of principal amount of the Notes and shall be an 
amount that is a multiple of $1,000. The Total Consideration is inclusive of 
the Early Tender Premium of $50 per $1,000 of principal amount of the Notes. 
Such Total Consideration is payable only to the Noteholders who validly tender 
their Notes prior to the Early Participation Deadline and the Offeror accepts 
such validly tendered Notes for purchase. No accrued interest will be payable. 
 
No Accrued Interest 
 
No accrued interest will be payable in addition to the Total Consideration or, 
with respect to Tender Instructions submitted after the Early Participation 
Deadline, the Tender Consideration. 
 
Modified Dutch Auction Procedure 
 
The amount that the Offeror will pay per $1,000 of principal amount of the 
Notes validly tendered and accepted for purchase pursuant to the Offer will be 
determined pursuant to a modified Dutch auction procedure (the "Modified Dutch 
Auction Procedure"). 
 
Under the Modified Dutch Auction Procedure, the Offeror will determine, in its 
sole discretion, for the Notes tendered prior to the Early Participation 
Deadline, as soon as practicable following the Early Participation Deadline, 
(a) the Acceptance Consideration and (b) the Total Consideration (expressed as 
the amount payable per $1,000 of principal amount of Notes), taking into 
account the principal amount of the Notes so tendered and the Total 
Consideration Bid Prices specified (or deemed to be specified, as set out 
below) by tendering Noteholders. 
 
The Total Consideration for the Notes will represent the lowest price that will 
enable the Offeror to purchase an aggregate principal amount of the Notes for 
which the total consideration paid by the Offeror will not exceed the 
Acceptance Consideration and shall be an amount that is a multiple of $1.00. 
 
If the total amount of Tender Instructions received by the Offeror is less than 
the Acceptance Consideration, then the Total Consideration will be equivalent 
to the Maximum Total Consideration. 
 
Tender Instructions may be submitted in the form of either a Competitive Offer 
or a Non-Competitive Offer. Competitive Offers can only be submitted prior to 
the Early Participation Deadline. 
 
Competitive Offers 
 
Noteholders may submit one or more Competitive Offers in respect of the Notes 
on or prior to the Early Participation Deadline, provided that the aggregate 
principal amount of the Notes that are the subject of these Competitive Offers, 
together with the aggregate principal amount of the Notes that are the subject 
of any Non-Competitive Offers submitted by each such Noteholder, does not 
exceed the aggregate principal amount of the Notes that each such Noteholder 
holds. Competitive Offers must specify: 
 
 a. a purchase price per $1,000 of aggregate principal amount of the Notes, in 
    increments of $1.00, which is above the Minimum Total Consideration and at 
    or below the Maximum Total Consideration, that such Noteholder would be 
    willing to accept as the Total Consideration in respect of Notes that are 
    the subject of the particular Tender Instruction (the "Total Consideration 
    Bid Price"); and 
 b. the principal amount of the Notes, in minimum denomination of $1,000 and in 
    integral multiples of $1.00 in excess thereof, that the relevant Noteholder 
    is tendering at that Total Consideration Bid Price. 
 
If a Competitive Offer specifies a purchase price that is not in increments of 
$1.00, such purchase price will be rounded up to the nearest number divisible 
by $1.00. 
 
If the Offeror accepts a Competitive Offer (or Competitive Offers), the 
relevant Noteholder will receive the Total Consideration for the Notes. In 
respect of each Competitive Offer (or Competitive Offers) that is accepted, the 
Offeror will pay the Total Consideration to each Noteholder whose Competitive 
Offer of Notes is accepted, even if the Total Consideration is higher than the 
Total Consideration Bid Offer Price specified by the tendering Noteholder in 
its Tender Instruction. In the event that the Competitive Offers submitted at 
the Total Consideration (following acceptance of all Non-Competitive Offers as 
described below) result in more Notes being offered than the Acceptance 
Consideration, such Competitive Offers will be accepted on a pro rata basis, as 
described below. 
 
Non-Competitive Offers 
 
Alternatively, Noteholders may submit one or more Non-Competitive Offers in 
respect of the Notes on or prior to the Expiration Deadline. Non-Competitive 
Offers must specify the principal amount of the Notes, in minimum denomination 
of $1,000 and in integral multiples of $1.00 in excess thereof, that the 
relevant Noteholder is offering pursuant to such Non-Competitive Offer, 
provided that the aggregate principal amount of the Notes that are the subject 
of these Non-Competitive Offers, together with the aggregate principal amount 
of the Notes that are the subject of any Competitive Offers submitted by each 
such Noteholder, does not exceed the aggregate principal amount of the Notes 
that each such Noteholder holds. 
 
Tender Instructions that (i) do not specify a Total Consideration Bid Price, 
(ii) specify a Total Consideration Bid Price equal to the Minimum Total 
Consideration or (iii) are received after the Early Participation Deadline will 
be treated as Non-Competitive Offers. Each Non-Competitive Offer falling within 
(i) or (ii) above, if received on or prior to the Early Participation Deadline, 
will be deemed to have specified the Minimum Total Consideration. Each 
Non-Competitive Offer submitted after the Early Participation Deadline will be 
deemed to have specified the Tender Consideration. Tender Instructions which 
specify a Total Consideration Bid Price more than the Maximum Total 
Consideration or less than the Minimum Total Consideration will not be 
accepted. 
 
A separate Tender Instruction must be submitted on behalf of each beneficial 
owner of the Notes due to possible scaling. 
 
The Offeror will accept all Non-Competitive Offers if it accepts any 
Competitive Offers. If the Offeror accepts a Non-Competitive Offer, the 
relevant Noteholder will receive the Total Consideration for the Notes (or, if 
such Non-Competitive Offer was submitted after the Early Participation 
Deadline, the Tender Consideration). In the event that the Non-Competitive 
Offers submitted would result in total consideration paid by the Offeror that 
is higher than the Acceptance Consideration, such Non-Competitive Offers will 
be accepted on a pro rata basis, as described below. 
 
Acceptance of Tender Instructions 
 
Once the Offeror has determined the Total Consideration and the Acceptance 
Consideration for the Notes, the Offeror will accept Tender Instructions 
validly submitted on or prior to the Early Participation Deadline in the 
following order: 
 
 a. all validly submitted Non-Competitive Offers will be accepted first, 
    subject to possible scaling in the event that Tender Instructions in 
    respect of such Non-Competitive Offers have been submitted that would 
    result in a greater total consideration paid by the Offeror than the 
    Acceptance Consideration; 
 b. all validly submitted Competitive Offers that specify Total Consideration 
    Bid Prices lower than the Total Consideration will be accepted second; and 
 c. all validly submitted Competitive Offers that specify Total Consideration 
    Bid Prices equal to the Total Consideration will be accepted third, subject 
    to possible scaling in the event that such Competitive Offers, when 
    aggregated with all Tender Instructions referred to above and accepted for 
    purchase, would result in a greater total consideration paid by the Offeror 
    than the Acceptance Consideration. 
 
Such pro rata allocations will be calculated by multiplying the aggregate 
principal amount of the Notes represented by each Tender Instruction subject to 
scaling by a factor (the "Scaling Factor") derived from (i) the maximum amount 
of notes that could be purchased taking into account the Acceptance 
Consideration less the aggregate principal amount of the Notes accepted for 
purchase not subject to scaling, divided by (ii) the aggregate principal amount 
of the Notes validly tendered in the Offer that are subject to scaling. Each 
tender of Notes reduced in this manner will be rounded down to the nearest 
$1.00 in aggregate notional principal amount. In the event of any scaling on a 
pro rata basis and such scaling would result in either (i) the Offeror 
accepting Notes from the relevant Noteholder in an aggregate principal amount 
of less than $1,000 or (ii) the principal amount of Notes not purchased and 
returned back to the relevant Noteholder being an aggregate principal amount of 
less than $1,000, the Offeror may elect to accept or reject such Tender 
Instructions in full. 
 
If the Offeror accepts tenders of Notes for purchase on a pro rata basis, 
Noteholders will only receive the Total Consideration (or, with respect to 
Tender Instructions submitted after the Early Participation Deadline, the 
Tender Consideration) in respect of those Notes validly tendered and accepted 
for purchase by the Offeror. All Notes not accepted as a result of scaling will 
be returned to Noteholders. 
 
If at the Early Participation Deadline the aggregate principal amount of Notes 
validly tendered  by Noteholders would result in a greater total consideration 
paid by the Offeror than the Acceptance Consideration, the Offeror may not 
accept any Notes tendered by Noteholders after the Early Participation 
Deadline. In such case, any Notes tendered after the Early Participation 
Deadline and on or prior to the Expiration Deadline will not be accepted for 
purchase by the Offeror and shall be promptly returned without cost to the 
tendering Noteholder. If the Offer is oversubscribed at the Early Participation 
Deadline, then the Offeror will issue an announcement promptly after the Early 
Participation Deadline stating that Notes tendered after the Early 
Participation Deadline will not be purchased pursuant to the Offer and Notes 
tendered before the Early Participation Deadline may be subject to scaling. 
 
If at the Early Participation Deadline the aggregate principal amount of Notes 
validly tendered by Noteholders would result in a total consideration paid by 
the Offeror that is less than the Acceptance Consideration, the Offeror expects 
to accept for purchase all Notes validly tendered at or prior to the Early 
Participation Deadline without scaling, subject to the satisfaction or waiver 
of the Transaction Conditions set forth in this Tender Offer Memorandum. In 
such case, the Offeror also expects to accept for purchase Notes validly 
tendered after the Early Participation Deadline and on or prior to the 
Expiration Deadline, up to a total consideration paid by the Offeror equal to 
the Acceptance Consideration, and only Notes tendered after the Early 
Participation Deadline and on or prior to the Expiration Deadline, to the 
extent that the aggregate principal amount of all Notes tendered as of the 
Expiration Deadline would result in a greater total consideration paid by the 
Offeror than the Acceptance Consideration, will be subject to scaling. 
 
If the Offeror decides to increase or decrease the Acceptance Consideration or 
adjust the Early Tender Premium, it will announce any such change during the 
pendency of the Offer. If the Acceptance Consideration is increased or 
decreased or the Early Tender Premium is adjusted and there are fewer than 10 
Business Days until the scheduled Expiration Deadline, the Offeror will extend 
the Offer so that at least 10 Business Days remain until the Expiration 
Deadline. 
 
Notes offered for purchase at a Total Consideration Bid Price higher than the 
Total Consideration of the Notes will not be accepted pursuant to the Offer. 
The Offeror may elect not to purchase any Notes. 
 
The determination of the Total Consideration by the Offeror will, in the 
absence of manifest error, be final and binding on all parties. 
 
Early Tender Premium 
 
Any Noteholder who validly tenders its Notes prior to the Early Participation 
Deadline will be entitled to receive a fee of $50 per $1,000 of principal 
amount of Notes for the Notes accepted for purchase in the Offer (the "Early 
Tender Premium"), with such Early Tender Premium included in the Total 
Consideration and payable on the Early Settlement Date. Noteholders whose Notes 
are not accepted for purchase or who validly tender their Notes after the Early 
Participation Deadline, but prior to the Expiration Deadline, assuming the 
Acceptance Consideration has not been met, will be eligible to receive the 
Tender Consideration, and will not receive any other additional cash 
consideration. 
 
Further Information 
 
The Offeror has appointed Kroll Issuer Services Limited to act as Information 
and Tender Agent. The Tender Offer Memorandum and all announcements and 
supporting documentation in relation to the Offer will be posted on the website 
operated by the Information and Tender Agent for purposes of the Offer (the " 
Offer Website"): https://deals.is.kroll.com/petradiamonds 
 
An indicative timeline for the Offer is set out below: 
 
Commencement of the Offer:            September 13, 2022 
 
Early Participation Deadline:         September 26, 2022 at 5:00 p.m. 
                                      London time 
 
Early Results Announcement:           On or about September 27, 2022 
 
Early Settlement Date:                On or about September 28, 2022 
 
Expiration Deadline:                  October 11, 2022 at 5:00 p.m. London 
                                      time 
 
Final Announcement Date:              On or about October 12, 2022 
 
Final Settlement Date                 On or about October 13, 2022 
 
Noteholders are advised to check with any bank, securities broker or other 
Intermediary through which they hold Notes when such Intermediary would require 
the receipt of instructions from a Noteholder in order for that Noteholder to 
be able to participate in, or (in the limited circumstances in which revocation 
is permitted) revoke their instruction to participate in, the Offer before the 
deadlines specified above. The deadlines set by any such Intermediary and each 
Clearing System for the submission of Tender Instructions will be earlier than 
the relevant deadlines specified above. 
 
The Offeror has the right to extend, amend or terminate the Offer at any time 
before the Expiration Deadline. 
 
The Offer is being made solely by means of the Tender Offer Memorandum, dated 
September 13, 2022, which sets forth the complete terms of the Offer. 
Noteholders are advised to read the Tender Offer Memorandum carefully and in 
full for details of, and information on the procedures for participating in, 
the Offer. 
 
Noteholders whose notes are held on their behalf by a broker, dealer, 
commercial bank, custodian, trust company or accountholder must contact and 
request such broker, dealer, commercial bank, custodian, trust company or 
accountholder if they wish to participate in the Offer. 
 
NONE OF THE OFFEROR OR ITS AFFILIATES, THE TRUSTEE OR THE INFORMATION AND 
TENDER AGENT MAKES ANY RECOMMENDATION AS TO WHETHER OR NOT NOTEHOLDERS SHOULD 
TENDER THEIR NOTES. EACH NOTEHOLDER MUST MAKE HIS, HER OR ITS OWN DECISION AS 
TO WHETHER TO TENDER NOTES. NOTEHOLDERS ARE URGED TO EVALUATE CAREFULLY ALL OF 
THE INFORMATION IN THE TENDER OFFER MEMORANDUM AND TO CONSULT THEIR INVESTMENT 
AND TAX ADVISORS IN MAKING THEIR DECISION AS TO WHETHER TO TENDER THEIR NOTES. 
 
Absa Bank Limited and Merrill Lynch International are acting as Dealer Managers 
for the Offer (the "Dealer Managers"). 
 
The Offeror is a wholly-owned subsidiary of Petra Diamonds Limited ("PDL"). 
PDL's shares are listed on the premium listing segment of the Official List 
maintained by the Financial Conduct Authority (the "FCA") and traded on the 
London Stock Exchange's main market for listed securities. Accordingly, PDL is 
subject to and must comply with the Listing Rules (as defined in the Tender 
Offer Memorandum). The Listing Rules regulate transactions that constitute 
Related Party Transactions (as defined in Chapter 11 of the Listing Rules), 
which can include a transaction between the Offeror, being a subsidiary of PDL, 
and a Substantial Shareholder (as defined in the Tender Offer Memorandum) of 
PDL. The Offeror makes no offer to Noteholders to the extent the purchase by 
the Offeror of Notes (or a certain portion of Notes) from a Noteholder would be 
a transaction to which Chapter 11 of the Listing Rules would apply. 
Accordingly, the Offer is restricted by the RPT Condition (as defined in the 
Tender Offer Memorandum) and the RPT Condition must be satisfied (or waived) in 
order for a Noteholder's Notes to be validly tendered. The Offeror reserves the 
right, in its sole and absolute discretion, to refuse any Notes tendered by 
Noteholders in the event the purchase of those Notes by the Offeror would 
constitute a transaction to which Chapter 11 of the Listing Rules would apply. 
 
Any questions and requests for assistance concerning the terms of the Offer may 
be directed to the Dealer Managers at the telephone number and location listed 
below: 
 
                               Absa Bank Limited 
                                 15 Alice Lane 
                                    Sandton 
                               Johannesburg 2196 
                                 South Africa 
 
                 Telephone: +44 203 961 6067, +44 738 411 8926 
                            Attention: Simon Rankin 
                        Email: Simon.Rankin@absa.africa 
 
                          Merrill Lynch International 
                             2 King Edward Street 
                                London EC1A 1HQ 
                                United Kingdom 
 
              United Kingdom Telephone (Europe): +44 207 996 5420 
                 Telephone (U.S. Toll Free): +1 (888) 292-0070 
                      Telephone (U.S.): +1 (980) 388-3646 
                     Attention: Liability Management Group 
                          Email: DG.LM-EMEA@bofa.com 
 
Any questions and requests for additional copies of the Tender Offer Memorandum 
may be directed to the Information and Tender Agent at the telephone number and 
location listed below: 
 
                         Kroll Issuer Services Limited 
 
                                   The Shard 
 
                            32 London Bridge Street 
 
                                London SE1 9SG 
 
                                United Kingdom 
 
                          Telephone: +44 20 7704 0880 
                           Attention: Thomas Choquet 
                       Email: petradiamonds@is.kroll.com 
            Offer Website: https://deals.is.kroll.com/petradiamonds 
 
Forward-Looking Statements 
 
This announcement contains certain forward-looking statements, which are based 
on current intentions, beliefs, assumptions and estimates by the management of 
the Offeror concerning, among other things, results of operations, financial 
condition, liquidity, prospects, growth, strategies of PDL and its subsidiaries 
(the "Group") and the industries in which the Group operates. By their nature, 
forward-looking statements involve risks and uncertainties because they relate 
to events and depend on circumstances that may or may not occur in the future. 
Readers are cautioned that forward-looking statements are not guarantees of 
future performance and that the Group's actual results of operations, financial 
condition and liquidity, and the development of the industries in which it 
operates, may differ materially from those made in or suggested by the 
forward-looking statements contained in this announcement. In addition, even if 
the Group's or its affiliates' results of operations, financial condition and 
liquidity and the development of the industries in which it operates are 
consistent with the forward-looking statements contained in this announcement, 
those results or developments may not be indicative of results or developments 
in subsequent periods. The Offeror undertakes no obligation to update these 
forward-looking statements and will not publicly release any revisions that may 
be made to these forward-looking statements which may result from events or 
circumstances arising after the date of this announcement. 
 
This announcement includes inside information as defined in Article 7 of the 
Market Abuse Regulation No. 596/2014 and is being released on behalf of PDL by 
the Company Secretary. 
 
                                    Ends 
 
For further information, please contact: 
 
Petra Diamonds, London                  Telephone: +44 20 7494 8203 
 
Patrick Pittaway 
investorrelations@petradiamonds.com 
 
Jill Sherratt 
 
Julia Stone 
 
About Petra Diamonds Limited 
 
Petra Diamonds is a leading independent diamond mining group and a supplier of 
gem quality rough diamonds to the international market. The Group's portfolio 
incorporates interests in three underground producing mines in South Africa 
(Finsch, Cullinan Mine and Koffiefontein) and one open pit mine in Tanzania 
(Williamson). 
 
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. 226.6 million carats, 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 Group 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 Group's US$336.7 million 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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

September 13, 2022 02:01 ET (06:01 GMT)

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