Petra Diamonds Ltd - Director Share Awards
27 September 2024
LSE:PDL
( Petra or the Company )
Director Share Awards
The Company 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 2025 PSP award1,2,3,4,5,6| |_____________|_______________|____________________________| |Richard Duffy|Chief Executive|2,654,558 | |_____________|_______________|____________________________|
Notes:
1.
The 30-day VWAP to
2.
All awards under the 2021 PSP are granted as conditional awards over ordinary shares in Petra of
3. The FY2025 award under the 2021 PSP is subject to performance conditions based on (i) 30% linked to absolute total shareholder return (with reference to 30-day VWAP at date of final award); (ii) 55% linked to cashflow generation and resultant net debt profile measured over the three years FY2025 to FY2027; and (iii) 15% linked to ESG and sustainability.
4. Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2024 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 | |__|______________________________|_______________________________________| |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 | |__|______________________________|_______________________________________| | |Details of the transaction(s): section to be repeated for (i) each | |4.|type of instrument; (ii) each type of transaction; (iii) each date; | | |and (iv) each place where transactions have been conducted | |__|______________________________________________________________________| | |Description of the Financial | | | |instrument, type |Ordinary shares of 0.05p per share par | |a.| |value | | |of instrument | | | | |BMG702782084 | | |Identification code | | |__|______________________________|_______________________________________| |b.|Nature of the transaction |Grant of performance based share awards| |__|______________________________|_______________________________________| | | | __________________ | | | ||Price(s)|Volume(s)| | |c.|Price(s) and volume(s) ||________|_________| | | | ||Nil |2,654,558| | | | ||________|_________| | |__|______________________________|_______________________________________| | |Aggregated information |2,654,558 | |d.| | | | | -- Aggregated volume |Nil | |__|____--__Price_________________|_______________________________________| |e.|Date of the transaction |25 September 2024 | |__|______________________________|_______________________________________| | |Place of the transaction |London Stock Exchange, Main Market | | | |(XLON) | |__|______________________________|_______________________________________|
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FURTHER INFORMATION
Petra Diamonds,
ABOUT PETRA DIAMONDS
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 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 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
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