PDL Petra Diamonds Limited

 
TIDMPDL 
 
FOR IMMEDIATE RELEASE 
 
9 March 2021                                                                                                LSE: PDL 
 
                            Petra Diamonds Limited 
 
("Petra", "PDL" or the "Company" or, in conjunction with its subsidiaries, the 
                                   "Group") 
 
                      Update regarding the Restructuring 
 
The Company is pleased to announce that the Proposed Restructuring Effective 
Date occurred today and that all of the implementation steps to the 
recapitalisation of the Group (the "Restructuring") have occurred other than 
Admission (as defined below).  It is expected that as part of the Restructuring 
and pursuant to the debt for equity conversion announced on 22 December 2020, 
8,844,657,929 New Ordinary Shares will be admitted to listing on the premium 
segment of the Official List of the FCA and admitted to trading on the London 
Stock Exchange's main market for listed securities at 8.00 a.m. tomorrow ( 
"Admission"). Following Admission and completion of the Capital Reduction, the 
Company's New Ordinary Shares will trade under the new ISIN BMG702781417 to 
reflect the change in the nominal value to 0.001p per share. 
 
Admission is the final step of the Restructuring, and it is therefore expected 
that the Restructuring will be completed tomorrow. A further announcement will 
be made tomorrow following Admission as to occurrence of the completion of the 
Restructuring. 
 
Capitalised terms used but not defined in this announcement have the meaning 
given to them in the explanatory statement dispatched to Scheme Creditors on 
10 December 2020 or in the combined prospectus and circular published by the 
Company on 22 December 2020, which is available on the Company's website ( 
www.petradiamonds.com/investors/2020-financial-restructuring/), as applicable. 
 
                                    Ends 
 
For further information, please contact: 
 
Petra Diamonds, London                                         Telephone: +44 
20 7494 8203 
Des Kilalea 
investorrelations@petradiamonds.com 
Marianna Bowes 
 
Rothschild & Co 
Giles Douglas 
giles.douglas@rothschildandco.com 
Glen Cronin 
glen.cronin@rothschildandco.com 
Mahir Quraishi 
mahir.quraishi@rothschildandco.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 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. 243 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. 
The Company's US$337 million notes due in 2026 will be listed on the Global 
Exchange market of the Irish Stock Exchange. For more information, visit 
www.petradiamonds.com . 
 
Important Notice 
 
This announcement contains statements about Petra that are or may be forward 
looking statements. All statements other than statements of historical facts 
included in this announcement may be forward looking statements. Without 
limitation, any statements preceded or followed by or that include the words 
"targets", "goals", "should", "would", "could", "continue", "plans", 
"believes", "expects", "aims", "intends", "will", "may", "anticipates", 
"estimates", "hopes", "projects" or words or terms of similar substance or the 
negative thereof, are forward looking statements. 
 
Such forward looking statements involve risks and uncertainties that could 
significantly affect expected results and are based on certain key assumptions. 
Many factors could cause actual results to differ materially from those 
projected or implied in any forward looking statements. Due to such 
uncertainties and risks, readers are cautioned not to place undue reliance on 
such forward looking statements, which speak only as of the date hereof. Petra 
disclaims any obligation to update any forward looking or other statements 
contained herein, except as required by applicable law or regulation. 
 
N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and 
regulated in the United Kingdom by the Financial Conduct Authority, is acting 
exclusively for Petra and no one else in connection with the contents of this 
announcement and will not be responsible to anyone other than Petra for 
providing the protections offered to clients of Rothschild & Co nor for 
providing advice in relation to the subject matter of this announcement or any 
other matters referred to in this announcement. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

March 09, 2021 09:42 ET (14:42 GMT)

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