Petra Diamonds Limited Notification of Transaction of PDMR (5767F)
October 29 2018 - 10:42AM
UK Regulatory
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: +44 20 7494 8203
Marianna Bowes investorrelations@petradiamonds.com
Salisha Ilyas
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse pdl@buchanan.uk.com
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 rns@lseg.com or visit www.rns.com.
END
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