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Petra Diamonds Ltd - Appointment of Non-Executive Director

·3-min read

22 December 2020

LSE: PDL

Petra Diamonds Limited

("Petra", the "Company" or, in conjunction with its subsidiaries, the "Group")

Appointment of Non-Executive Director

The Company is pleased to announce the prospective appointment of Mr. Matthew Glowasky to the Board as a Non-Executive Director nominee appointed by Monarch Master Funding 2 (Luxembourg) S.à r.l., a holder of Notes that is participating in the Debt for Equity Conversion ("Monarch"). Mr. Glowasky will also be a member of the 'Investment Committee' of the Board, which shall be established with effect from the Restructuring Effective Date to monitor significant capital and other investments. Mr. Glowasky's prospective appointment to the Board is subject to the successful implementation of the Consensual Restructuring and a further announcement confirming the date on which he will formally assume office will be made in due course.

Mr. Glowasky's prospective appointment to the Board is pursuant to and in accordance with a Nomination Agreement that has been executed between the Company and Monarch. Further details of the Nomination Agreement are contained in the combined circular and prospectus published by the Company today (the "Prospectus").

Mr. Glowasky has over five years of directorial experience in UK companies in the health and social care sector and was a director of Latécoère S.A., a publicly quoted company in France, between 2015 and 2019.

Mr. Glowasky is a director of the following companies, each of which entered into solvent liquidation on 16 December 2020: (i) Aspenframe Limited; (ii) Salco Homes Limited; and (iii) World Trade Properties Limited. Mr. Glowasky is also a director of the following companies, each of which entered into solvent liquidation on 17 December 2020: (i) Eagle View Care Home Limited; (ii) Executive Health Care Limited; (iii) Express Care (Guest Services) Limited; (iv) Express Care Limited; (v) Hillcrest Care Homes Limited; (vi) Primrose Care Home Limited; (vii) Sovereign Guest Services Limited; (viii) System Cycle Limited; and (ix) Windmill Hills Care Home Limited. Mr. Glowasky is a director of Crossco (1332) Limited, which entered into solvent liquidation on 18 December 2020.

Mr. Glowasky is a director of Northwind Leisure Limited which was acquired by Monarch on 26 November 2014, which has been in administration since 2 November 2015.

Save as set out above, there are no further matters which are required to be disclosed pursuant to paragraph 9.6.13 of the Listing Rules.

The defined terms set out in the Prospectus apply in this Announcement.

~ Ends ~

For further information, please contact:

Petra Diamonds, London Telephone: +44 20 7494 8203

Cathy Malins investorrelations@petradiamonds.com

Des Kilalea

Marianna Bowes

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.