Further to the announcement issued by the Company on
As noted in previous announcements relating to the Restructuring, each of the elements of the Restructuring (of which the Scheme is an integral part) are inter-conditional, meaning that the Scheme will only become effective if the Scheme Conditions are approved and/or implemented or waived in accordance with the terms of the Scheme. Therefore, notwithstanding the sanctioning of the Scheme by the Court, the Restructuring Effective Date will only occur if, in particular, (i) Petra's Shareholders approve the issuance of the New Shares, (ii) the
The Special General Meeting at which Petra's Shareholders will be asked to approve the issuance of the New Shares is scheduled to take place at
The hearing before the
Capitalised terms used but not defined in this announcement have the meaning given to them in the Practice Statement Letter.
Contact:
Tel: +44 20 7494 8203
About
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
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
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.
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