TIDMPDL
RNS Number : 6537Q
Petra Diamonds Limited
19 October 2023
19 October 2023 LSE: PDL
Petra Diamonds Limited
(Petra or the Company)
Director Share Awards
Petra announces that the Executive Directors of the Company have
been granted deferred awards over ordinary shares in the Company
under the annual performance bonus plan.
The deferred share awards, representing 25% of the total annual
performance bonus for the financial year ended 30 June 2023, are as
follows:
Director Position Value of 30-day Volume Deferred shares awarded
deferred Weighted Average (1,2,3,5,6,7)
bonus Price (VWAP)(1)
Richard Duffy Chief Executive GBP94,719 66.9p 141,672
------------------ ----------- ------------------ ------------------------
Jacques Breytenbach Finance Director GBP62,575 66.9p 93,594
------------------ ----------- ------------------ ------------------------
The Company also announces the grant of performance based share
awards under the Company's 2021 Performance Share Plan (" 2021 PSP
") over ordinary shares in the Company.
The awards made are as follows, with full vesting of the maximum
award requiring performance conditions to be met in full:
Director Position FY 2024 PSP award(1,2,4,5,6,7)
Richard Duffy Chief Executive 1,075,998
------------------ -------------------------------
Jacques Breytenbach Finance Director 717,340
------------------ -------------------------------
Notes:
1. The 30-day VWAP to 17 October 2023 for deferred share and
2021 PSP awards is 66.9 pence per share.
2. All awards under the annual performance bonus plan and 2021
PSP are granted as conditional awards over ordinary shares in Petra
of 0.05 pence each.
3. The awards under the annual performance bonus plan are
deferred for two years; these awards may be settled using shares
purchased in the market or in cash, at the Company's
discretion.
4. The FY 2024 awards under the 2021 PSP are subject to
performance conditions based on (i) 15% linked to absolute total
shareholder return (with reference to 30-day VWAP at date of final
award); (ii) 15% linked to relative total shareholder return; (iii)
30% linked to cashflow generation and resultant net debt profile
measured over the three years FY2024 to FY2026; (iv) 25% linked to
operational performance and efficiencies; and (v) 15% linked to ESG
and sustainability.
5. Further details regarding the share awards are set out within
the Directors' Remuneration Report within the Company's 2023 Annual
Report.
6. No consideration was payable for the grant of the awards.
7. The grant of these awards does not affect Petra's Total Voting Rights.
This announcement is made in accordance with Article 19 of the
EU Market Abuse Regulation.
1. Details of the person discharging managerial responsibilities / person closely associated
a. Name Richard Duffy
------------------------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------
a. Position/status Chief Executive
------------------------------------------------ ---------------------------------------------
b. Initial notification/Amendment Initial Notification
------------------------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------
a. Name Petra Diamonds Limited
------------------------------------------------ ---------------------------------------------
b. LEI 213800X4QZIAVSA12860
------------------------------------------------ ---------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------
a. Description of the Financial instrument, type Ordinary shares of 0.05p per share par value
of instrument
Identification code
BMG702782084
------------------------------------------------ ---------------------------------------------
b. Nature of the transaction Award of deferred shares
------------------------------------------------ ---------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
N il 141,672
----------
------------------------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume 141,672
N il
* Price
------------------------------------------------ ---------------------------------------------
e. Date of the transaction 1 8 October 2023
------------------------------------------------ ---------------------------------------------
f. Place of the transaction London Stock Exchange, Main Market (XLON)
------------------------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities / person closely associated
a. Name Richard Duffy
------------------------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------
a. Position/status Chief Executive
------------------------------------------------ ---------------------------------------------
b. Initial notification/Amendment Initial Notification
------------------------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------
a. Name Petra Diamonds Limited
------------------------------------------------ ---------------------------------------------
b. LEI 213800X4QZIAVSA12860
------------------------------------------------ ---------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------
a. Description of the Financial instrument, type Ordinary shares of 0.05p per share par value
of instrument
Identification code
BMG702782084
------------------------------------------------ ---------------------------------------------
b. Nature of the transaction Grant of performance based share awards
------------------------------------------------ ---------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
N il 1,075,998
----------
------------------------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume 1,075,998
N il
* Price
------------------------------------------------ ---------------------------------------------
e. Date of the transaction 1 8 October 2023
------------------------------------------------ ---------------------------------------------
g. Place of the transaction London Stock Exchange, Main Market (XLON)
------------------------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities / person closely associated
a. Name Jacques Breytenbach
------------------------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------
a. Position/status Finance Director
------------------------------------------------ ---------------------------------------------
b. Initial notification/Amendment Initial Notification
------------------------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------
a. Name Petra Diamonds Limited
------------------------------------------------ ---------------------------------------------
b. LEI 213800X4QZIAVSA12860
------------------------------------------------ ---------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------
a. Description of the Financial instrument, type Ordinary shares of 0.05p per share par value
of instrument
Identification code
BMG702782084
------------------------------------------------ ---------------------------------------------
b. Nature of the transaction Award of deferred shares
------------------------------------------------ ---------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
N il 93,594
----------
------------------------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume 93,594
N il
* Price
------------------------------------------------ ---------------------------------------------
e. Date of the transaction 1 8 October 2023
------------------------------------------------ ---------------------------------------------
f. Place of the transaction London Stock Exchange, Main Market (XLON)
------------------------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities / person closely associated
a. Name Jacques Breytenbach
------------------------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------
a. Position/status Finance Director
------------------------------------------------ ---------------------------------------------
b. Initial notification/Amendment Initial Notification
------------------------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------
a. Name Petra Diamonds Limited
------------------------------------------------ ---------------------------------------------
b. LEI 213800X4QZIAVSA12860
------------------------------------------------ ---------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------
a. Description of the Financial instrument, type Ordinary shares of 0.05p per share par value
of instrument
Identification code
BMG702782084
------------------------------------------------ ---------------------------------------------
b. Nature of the transaction Grant of performance based share awards
------------------------------------------------ ---------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
N il 717,340
----------
------------------------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume 717,340
N il
* Price
------------------------------------------------ ---------------------------------------------
e. Date of the transaction 1 8 October 2023
------------------------------------------------ ---------------------------------------------
Ends
For further information, please contact:
Investor Relations, London Telephone: +44 20 7494 8203
Patrick Pittaway investorrelations@petradiamonds.com
Julia Stone
Kelsey Traynor
Financial PR (Camarco)
Gordon Poole Telephone: +44 20 3757 4980
Owen Roberts petradiamonds@camarco.co.uk
Elfie Kent
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 two
underground mines in South Africa (Finsch and Cullinan Mine) 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 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 loan
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.
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END
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