Petra Diamonds Ltd - Director Share Awards

14 December 2022

LSE: PDL

Petra Diamonds Limited
(Petra or the Company)

Director Share Awards

Petra announces the grant of performance based share awards under the Company's 2021 Performance Share Plan ("2021 PSP") over ordinary shares in the Company.

This award follows the shareholders’ approval of amendments to the Company’s Directors’ Remuneration Policy and 2021 PSP rules at the AGM on 16 November 2022 which enabled an enhanced PSP award to be made for FY 2023 of 300% of salary for the CEO and 225% of salary for the CFO.   This enhanced award level will apply for FY 2023 only.

The awards made are as follows, with full vesting of the maximum award requiring performance conditions to be met in full:

Director	Position	FY 2023 PSP award
Richard Duffy	CEO	1,236,688
Jacques Breytenbach	CFO	618,344

Notes:

1.      The 30-day VWAP to 16 November 2022 for the FY 2023 PSP awards is 110.8 pence per share.

2.      All awards under the 2021 PSP are granted as conditional awards over ordinary shares in Petra of 0.05 pence each.

3.      The FY2023-25 awards under the 2021 PSP are subject to performance conditions based on (i) 30% linked to absolute and relative total shareholder return; (ii) 30% linked to operational free cashflow and net debt to EBITDA ratio; (iii) 25% linked to operational performance and efficiencies; and (iv) 15% linked to ESG and sustainability measures.

4.      Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2022 Annual Report.

5.      No consideration was payable for the grant of the awards.

6.      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 Officer
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 of instrument Identification code	Ordinary shares of 0.05p per share par value BMG702782084
b.	Nature of the transaction	Grant of performance based share awards
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,236,688
d.	Aggregated information ·  Aggregated volume ·  Price	1,236,688 Nil
e.	Date of the transaction	13 December 2022
a.	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	Chief Financial Officer
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 of instrument Identification code	Ordinary shares of 0.05p per share par value BMG702782084
b.	Nature of the transaction	Grant of performance based share awards
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 618,344
d.	Aggregated information ·  Aggregated volume ·  Price	618,344 Nil
e.	Date of the transaction	13 December 2022

~ Ends ~

For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]
Patrick Pittaway
Julia Stone                                                      [e-mail]

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 (the Finsch, Cullinan and Koffiefontein Mines) 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.