Petra Diamonds
Limited
(“Petra” or the
“Company”)
Director
Resignation
Petra today announces that Matthew
Glowasky has informed the Board that he will stand down as a
Non-Executive Director of the Company, with immediate effect.
Mr Glowasky was appointed as a non-independent, Non-Executive
Director of the Company on 10 March 2021, pursuant to a
Nomination Agreement between the Company and Monarch Master Funding
2 (Luxembourg) S.a r.l.
(“Monarch”) and following the successful completion of the
recapitalisation of the Petra Group.
While Monarch does not currently intend to nominate a director
to replace Mr Glowasky, it retains its right to do so under the
Nomination Agreement. Further details of the Nomination
Agreement are contained in the combined circular and prospectus
published by Petra on 22 December 2020.
Peter Hill, Petra’s Non-Executive
Chairman, commented:
“On behalf of the Board, I would like
to thank Matthew for his contribution to Petra during his tenure as
a director and wish him every success in his future
endeavours.”
~ Ends ~
For further information, please
contact:
Petra Diamonds,
London
Telephone: +44 20 7494 8203
Jill
Sherratt
investorrelations@petradiamonds.com
Patrick Pittaway
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 Company’s portfolio incorporates 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. 230 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 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'. The Company’s
US$336.7 million notes due in 2026
are listed (subject to temporary suspension) on the Irish Stock
Exchange and admitted to trading on the Global Exchange Market. For
more information, visit www.petradiamonds.com.