Petra Diamonds Limited Notification of Transactions of Directors (6247N)
October 27 2016 - 6:00AM
UK Regulatory
TIDMPDL
RNS Number : 6247N
Petra Diamonds Limited
27 October 2016
27 October 2016 LSE: PDL
Petra Diamonds Limited
("Petra," "the Company" or "the Group")
Notification of Transactions of Directors
Petra Diamonds Limited announces the following transactions of
Directors:
This notification is made in accordance with Disclosure Rule 3.1
of the Disclosure Guidance and Transparency Rules ("DTR") and
Article 19(3) of the Market Abuse Regulation ("MAR").
1. Director transactions
On 27 October 2016, Johan Dippenaar and Jim Davidson became
beneficiaries of a trust, African Rainbow Trust of which, inter
alia, Adonis Pouroulis is currently a beneficiary (the
"Transaction"). As previously announced by the Company on 14 April
2009 and 10 December 2009, ordinary shares in the share capital of
the Company ("Shares") were acquired and registered in the trust
("Trust Shares"). Prior to completion of the Transaction, neither
Johan Dippenaar nor Jim Davidson had any interest, voting or
dividend rights in the Trust Shares.
The announcements referenced above can be accessed by opening
the below links:
https://irssl.euroinvestor.com/asp/ir/PetraDiamonds/https/NewsRead.aspx?storyid=13082494&ishtml=0
https://irssl.euroinvestor.com/asp/ir/PetraDiamonds/https/NewsRead.aspx?storyid=13082478&ishtml=0
Following completion of the Transaction, the interest in the
Trust Shares are equally divided amongst the beneficiaries of the
trust. The transaction will provide Johan Dippenaar and Jim
Davidson with an interest in 1,052,637 Shares each, while Adonis
Pouroulis' interest will reduce by 777,013 Shares and the remaining
beneficiaries' interest will reduce by 1,328,261 Shares. Johan
Dippenaar and Jim Davidson are not required to pay any further
consideration in connection with the Transaction.
Further, on 27 October 2016, Johan Dippenaar acquired 2,796,616
Shares and Jim Davidson acquired 2,716,569 Shares respectively (in
aggregate, the "Crown Shares"). These shares were acquired from the
previous controlling shareholders of Crown Diamonds NL ("Crown")
(the company which Petra merged with in 2005) and the private
company structure that preceded Crown. The shares were acquired for
nil consideration pursuant to a non-contractual agreement between
the parties. Prior to this transfer, neither Johan Dippenaar nor
Jim Davidson had any interest, voting or dividend rights in the
Crown Shares.
There are currently 529,989,968 Ordinary Shares in issue, which
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in (or a change to their interest in) Petra under the
FCA's Disclosure and Transparency Rules.
2. Changes to Directors' shareholdings
As a result of the transactions described above, the following
directors' interests in the Company as at 27 October 2016, are as
follows:
Director Total Holding Shareholding Resulting Percentage
of Ordinary Shares post completion Holding in the
prior to completion of the Transactions Company
of the transactions
------------------ --------------------- --------------------- ---------------------
Adonis Pouroulis 9,564,650 8,787,637 1.66%
------------------ --------------------- --------------------- ---------------------
Johan Dippenaar 1,160,719 5,009,972 0.95%
------------------ --------------------- --------------------- ---------------------
Jim Davidson 1,043,775 4,812,981 0.91%
------------------ --------------------- --------------------- ---------------------
-- Ends --
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Salisha Ilyas salisha.ilyas@petradiamonds.com
Buchanan Telephone: 44 20 7466 5000
(PR Adviser)
Bobby Morse bobbym@buchanan.uk.com
Anna Michniewicz annam@buchanan.uk.com
RBC Capital Markets Telephone: +44 20 7653 4000
(Joint Broker)
Matthew Coakes matthew.coakes@rbccm.com
Jonathan Hardy jonathan.hardy@rbccm.com
Barclays Telephone: +44 20 7623 2323
(Joint Broker)
Bertie Whitehead bertie.whitehead@barclays.com
Philip Drake philip.e.drake@barclays.com
BMO Capital Markets Telephone: +44 20 7236 1010
(Joint Broker)
Jeffery Couch jeffery.couch@bmo.com
Neil Haycock neil.haycock@bmo.com
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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 Operations (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.
Petra has a core objective to steadily increase annual
production to ca. 5.3 million carats by FY 2019. 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 the Company's website at www.petradiamonds.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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