Completion of the Refinancing and PDMR Notifications
Petra Diamonds Limited has successfully completed its refinancing, with the Restructuring Effective Date occurring and all conditions met. This includes the granting of Incentivisation Warrants to participants, with one-third vesting, and Work Fee Warrants to the Working Group, alongside the operative Amended and Restated Indenture. The company's total voting rights stand at 319,861,762 ordinary shares. Additionally, notifications detail the grant of 3,750,000 warrants to Joint CEOs Vivek Gadodia and Jozephus Kemp, and 1,248,750 vested warrants to each, as well as the grant of 1,240,000 work fee warrants to Non-Executive Director José Manuel Vargas, all occurring on November 28, 2025, on the London Stock Exchange.
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| 28 November 2025 | LSE: PDL |
Petra Diamonds Limited
("Petra", "the Company" or "the Group")
Completion of the Refinancing and PDMR Notifications
Petra Diamonds Limited is pleased to announce that, following completion of all of the implementation steps under the Implementation Deed, the Restructuring Effective Date has occurred and all remaining conditions to the Group's Refinancing have completed in full.
In accordance with the terms of the Refinancing:
the Incentivisation Warrants approved by the Board under the Incentivisation Plan have now been granted to the relevant participants, with one-third of such warrants vesting;
the Work Fee Warrants have been granted to members of the Working Group; and
the Amended and Restated Indenture is now operative.
Capitalised terms not otherwise defined in this announcement shall have the meanings given to them in the combined prospectus and circular dated 17 October 2025 published by the Company (the "Prospectus").
Further to the Company's announcement on 27 November 2025, the Company's share capital consists of 319,861,762 Ordinary Shares of 0.05 pence each in issue with voting rights, none of which are held in treasury. Therefore, the total number of voting rights in Petra is 319,861,762.
Vivek Gadodia and Juan Kemp, Joint CEOs of Petra, commented:
“The completion of the Refinancing is a pivotal moment for the Company enabling us to continue with the capital development that we believe will unlock sustainable value for all of our stakeholders going forward.
We would like to thank our noteholders, lender and shareholders in getting to this milestone and for their continued support.”
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | José Manuel Vargas |
| 2 | Reason for the notification | |
| (a) | Position/status | Non-Executive Director |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 3,750,000 3,750,000 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | José Manuel Vargas |
| 2 | Reason for the notification | |
| (a) | Position/status | Non-Executive Director |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Vesting of warrants granted under Petra Diamonds Limited Warrant Incentive Plan |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 1,248,750 1,248,750 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | Vivek Gadodia |
| 2 | Reason for the notification | |
| (a) | Position/status | Joint Chief Executive Officer |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 3,750,000 3,750,000 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | Vivek Gadodia |
| 2 | Reason for the notification | |
| (a) | Position/status | Joint Chief Executive Officer |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Vesting of warrants under Petra Diamonds Limited Warrant Incentive Plan |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 1,248,750 1,248,750 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | Jozephus Kemp |
| 2 | Reason for the notification | |
| (a) | Position/status | Joint Chief Executive Officer |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Grant of warrants under Petra Diamonds Limited Warrant Incentive Plan |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 3,750,000 3,750,000 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | Jozephus Kemp |
| 2 | Reason for the notification | |
| (a) | Position/status | Joint Chief Executive Officer |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Vesting of warrants under Petra Diamonds Limited Warrant Incentive Plan |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 1,248,750 1,248,750 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| (a) | Name | José Manuel Vargas |
| 2 | Reason for the notification | |
| (a) | Position/status | Non-Executive Director |
| (b) | Initial notification/Amendment | Initial Notification |
| (a) | Name | Petra Diamonds Limited |
| (b) | LEI | 213800X4QZIAVSA12860 |
| (a) | Description of the financial instrument, type of instrument Identification code | Warrant over Ordinary Shares Ordinary Shares ISIN: BMG702782084 |
| (b) | Nature of the transaction | Grant of work fee warrants in connection with the Refinancing |
| (c) | Price(s) and volume(s) | Price(s) Volume(s) Total 0 1,240,000 1,240,000 |
| (d) | Aggregated information | N/A |
| (e) | Date of the transaction | 28 November 2025 |
| (f) | Place of the transaction | London Stock Exchange, Main Market (XLON) |
~ Ends ~
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