Petra Diamonds Limited has announced the approval of the vesting of certain shares in respect of share awards granted to its Executive Directors under the 2021 Performance Share Plan (PSP). The shares were originally granted on 12 January 2022 and are subject to a 2-year holding period. Upon release at the end of the holding period, the vested awards may be settled using newly issued shares, shares held in treasury, shares purchased in the market, or in cash, at the company's discretion. The number of vested shares for each director is provided in the announcement.
The announcement also states that further details regarding the share awards can be found in the Directors' Remuneration Report within the company's 2023 Annual Report. The disclosure of this information is in accordance with Article 19 of the EU Market Abuse Regulation.
Petra Diamonds Limited is a leading independent diamond mining group and supplier of gem quality rough diamonds to the international market. The company's portfolio includes interests in two underground mines in South Africa (Finsch and Cullinan Mine) and one open pit mine in Tanzania (Williamson). Petra's strategy is to focus on value rather than volume production by optimizing recoveries from its high-quality asset base. The company aims to conduct all operations according to the highest ethical standards and only operates in countries that are members of the Kimberley Process. Petra strives to generate tangible value for its stakeholders and contribute to the socio-economic development of its host countries.