Petra Diamonds Ltd - Related Party Transaction
PR Newswire
London, September 26
| 27 September 2022 | LSE: PDL |
Petra Diamonds Limited
("Petra", the "Company")
Related Party Transaction
Petra today announces that Vontobel Asset Management AG ("Vontobel") has participated in the tender offer process of Petra Diamonds US$ Treasury Plc's ("PDUST") Senior Secured Second Lien Notes due 2026 (the "Notes") pursuant to a tender offer memorandum dated 13 September 2022 (the "Tender Offer"). Vontobel submitted tender instructions for the Notes which PDUST accepted on 26 September 2022. The total consideration to be received by Vontobel for such Notes shall be US$11,900,000. The expected settlement date for the transaction with Vontobel is 28 September 2022. PDUST is a wholly-owned subsidiary of Petra.
As Vontobel is a related party of Petra for the purposes of the Listing Rules, the participation of Vontobel in the Tender Offer (the "Vontobel Transaction") is a transaction of the kind covered by LR 11.1.10R. The Company's sponsor has provided written confirmation that the terms of the Vontobel Transaction are fair and reasonable insofar as the Company's shareholders are concerned.
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For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Patrick Pittaway investorrelations@petradiamonds.com
Jill Sherratt
Julia Stone
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 Group's portfolio incorporates interests in three underground producing mines in South Africa (Finsch, Cullinan Mine 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. 226.6 million carats, 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 Group 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 Group's US$336.7 million 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.
