Petra Diamonds Limited Director Share Awards (5518V)
November 03 2017 - 9:32AM
UK Regulatory
TIDMPDL
RNS Number : 5518V
Petra Diamonds Limited
03 November 2017
3 November 2017 LSE: PDL
Petra Diamonds Limited
("Petra," "the Company")
Director Share Awards
Petra Diamonds Limited 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 are as follows and represent 100% of
the total bonus in respect of performance for the financial year
ended 30 June 2017.
Director Position Deferred shares
awarded
----------------- ------------------------- ----------------
Johan Dippenaar Chief Executive Officer 76,302
----------------- ------------------------- ----------------
Jim Davidson Technical Director 61,596
----------------- ------------------------- ----------------
The Company also announces the grant of performance based share
awards under the Company's 2012 Performance Share Plan ("2012 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 2018 PSP
award
----------------- ------------------------- ------------
Johan Dippenaar Chief Executive Officer 446,209
----------------- ------------------------- ------------
Jim Davidson Technical Director 360,208
----------------- ------------------------- ------------
Notes:
1. All awards under the annual performance bonus plan and 2012
PSP are granted as conditional awards over ordinary shares in Petra
of 10 pence each.
2. The awards under the annual performance bonus plan will
ordinarily vest on 30 June 2019; these awards may be settled using
existing shares purchased in the market or in cash at the Company's
discretion.
3. The awards under the 2012 PSP are subject to performance
conditions based on (i) absolute total shareholder return (25%);
(ii) relative total shareholder return against mining and diamond
industry peers (25%); and (iii) targets linked to operational
performance (40%) and project delivery (10%). Vesting will be based
on performance measured over three years.
4. Further details regarding the share awards are set out within
the Directors' Remuneration Report within the Company's 2017 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.
7. This announcement is made under the UKLA's Disclosure and Transparency Rule 3.1.2R.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins cathy.malins@petradiamonds.com
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse bobbym@buchanan.uk.com
Anna Michniewicz annam@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
an increasingly important supplier of rough diamonds to the
international market. The Company has interests in five producing
operations: three underground mines in South Africa (Finsch,
Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint
venture (including the Kimberley Underground mine and extensive
tailings retreatment operations) and one open pit mine in Tanzania
(Williamson). It also maintains an exploration programme in
Botswana and South Africa.
Petra has a core objective to steadily increase annual
production to 5.0 - 5.3 million from FY 2019 onwards. The Group has
a significant resource base in excess of 300 million carats.
Petra conducts all operations according to the highest ethical
standards and will only operate in countries which are members of
the Kimberley Process. 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,
visit www.petradiamonds.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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