Petra Diamonds : Statement Regarding Voting at November 2018 AGM

RNS Number : 3690T

Petra Diamonds Limited

20 March 2019

20 March 2019

LSE: PDL

Petra Diamonds Limited

("Petra," the "Company" or the "Group")

Statement Regarding Voting at November 2018 Annual General Meeting

In accordance with the U.K. Corporate Governance Code, the Board of Petra Diamonds Limited provides the following statement regarding the voting at the November 2018 Annual General Meeting.

The Board and Nomination Committee of Petra Diamonds Limited have considered the 22.12% vote recorded against the re-election of Adonis Pouroulis as Chairman in the context of our ongoing three-year Succession Plan. In addition, we have considered the concerns raised by our shareholders.

The Board has reaffirmed its assessment that the Chairman continues to demonstrate the independence of thought and challenge required for his role, notwithstanding the number of years he has served as a Director.

The Board notes the announcement of the appointment of Richard Duffy as the new CEO with effect from 1 April 2019, following a process announced in September 2018, and the appointment of two new Independent Non-Executive Directors, Mr Bernard Pryor and Mrs Varda Shine, effective from 1 January 2019.

In order to ensure continuity and stability of leadership and management, the appointment of a new Chairman is not considered appropriate at this time. The situation will remain under review as the Nomination Committee is in the final year of its three-year Succession Plan, and as previously announced, the Committee expects to make further changes to the composition of the Board during this calendar year.

~ Ends ~

For further information, please contact:

Petra Diamonds, London Telephone:[phone]

Marianna [e-mail]

Salisha Ilyas

BuchananTelephone: [phone]

(PR Adviser)

Bobby [e-mail]

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 producing mine in Tanzania (Williamson). Petra also conducts a limited exploration programme in Botswana and South Africa, which is currently under review.

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. 290 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. For more information, visitwww.petradiamonds.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

STRUKRARKRAOAUR