FOR IMMEDIATE RELEASE
Petra Diamonds
Limited
("Petra", "PDL" or the "Company" or,
in conjunction with its subsidiaries, the "Group")
Petra Diamonds
Limited issues Settlement Advisory Notice
7.25% Senior
Secured Second Lien Notes due 2022
(ISINs: USG7028AAB91 / US71642QAB32;
CUSIPs: G7028AAB9 / 71642QAB3)
(the "Notes")
Following the announcement made on 17 November 2020 in
relation to the launch of the scheme of arrangement (the
"Scheme") via the issuance of a practice statement letter
(the "PSL"), Petra would like to provide an advance notice
of certain procedures and actions which certain Noteholders will be
required to complete for the successful settlement of the New Notes
which they are entitled to receive pursuant to the proposed
financial restructuring of the Group (the "Restructuring").
Capitalised terms not otherwise defined have the meanings set out
in the PSL.
TO ALL NOTEHOLDERS
Please note that Petra Diamonds US$ Treasury plc (the
"Scheme Company") will be making available certain
documents (the "Scheme Documents") to the Scheme Company’s
existing creditors, including all Noteholders, which will request
that Noteholders follow the procedures and take the actions further
described below by the designated deadlines set forth therein.
As a prerequisite to receiving the New
Notes, all Noteholders holding positions through DTC must first
transfer their positions into an existing securities account with
Euroclear or Clearstream (thereby making such holdings “EC/CS
Notes”) by the designated deadlines that will be set forth in the
Scheme Documents. Such Noteholders will then need to submit an
electronic instruction to either Euroclear or Clearstream, as
applicable, to block their EC/CS Notes until the Restructuring
Effective Date, in order to have successful settlement of the New
Notes. The existing trustee for the Notes has no role in such
transfers of positions, and this transfer must be performed by all
relevant Noteholders.
If Noteholders do not transfer their holding positions held
through DTC into an existing securities account with Euroclear or
Clearstream and make arrangements to block such EC/CS Notes as set
out in the Scheme Documents, such Noteholders will not be able to
receive their New Notes on the Restructuring Effective Date.
Euroclear and Clearstream expect to receive the New Notes on the
Restructuring Effective Date in their respective accounts as
instructed by the Information Agent, of which further details will
be set forth in the Scheme Documents. Upon receipt of these
securities, Euroclear and Clearstream will, on a reasonable efforts
basis, credit such securities to their relevant customers. Neither
Clearstream nor Euroclear shall be held responsible if any step
above cannot be completed within the requested timeframe.
* * * * *
Any communications or questions in relation to this notice or
procedures in connection with the Restructuring generally may be
directed to the Information Agent:
Lucid Issuer
Services Limited
Oliver Slyfield / David Shilson
Tel: +44 207 704 0880
Email: petradiamonds@lucid-is.com
~ Ends ~
For further information, please
contact:
Petra Diamonds,
London
Telephone: +44 20 7494 8203
Cathy
Malins
investorrelations@petradiamonds.com
Des Kilalea
Marianna Bowes
Rothschild &
Co
Giles
Douglas
giles.douglas@rothschildandco.com
Glen
Cronin
glen.cronin@rothschildandco.com
Mahir
Quraishi
mahir.quraishi@rothschildandco.com
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 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 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 London Stock Exchange under the ticker
'PDL' and is a constituent of the FTSE4Good Index. The Company’s
US$650 million loan notes due in
2022, currently subject to restructuring, are listed on the Global
Exchange market of the Irish Stock Exchange. For more information,
visit www.petradiamonds.com.
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.
N.M. Rothschild & Sons Limited ("Rothschild & Co"),
which is authorised and regulated in the United Kingdom by the Financial Conduct
Authority, is acting exclusively for Petra and no one else in
connection with the contents of this announcement and will not be
responsible to anyone other than Petra for providing the
protections offered to clients of Rothschild & Co nor for
providing advice in relation to the subject matter of this
announcement or any other matters referred to in this
announcement.