Result of Special General Meeting

RNS Number : 9050S

Petra Diamonds Ld

28 November 2011

 



 

28 November 2011

AIM: PDL

Petra Diamonds Limited

("Petra" or "the Company")

Result of Special General Meeting

Appointment of new Directors; Adoption of new Bye-laws

Petra Diamonds Limited announces that at its Special General Meeting ("SGM"), held today at 3.00 p.m. GMT at the Company's group management office at Elizabeth House, 9 Castle Street, St Helier, Jersey, all resolutions were duly approved.

Accordingly, Dr Patrick Bartlett and Mr Gordon Hamilton have been appointed as independent Non-Executive Directors to the Board. Following these appointments, Mr Adonis Pouroulis has moved from Executive Chairman to Non-Executive Chairman of the Company with immediate effect.

The Company's Board now consists of seven members, including three Executive Directors (Mr Johan Dippenaar, Mr David Abery and Mr Jim Davidson), two independent Non-Executive Directors (Dr Patrick Bartlett and Mr Gordon Hamilton), one Non-Executive Director (Dr Omar Kamal, who is not considered independent as he represents a 13.3% shareholder in the Company), and Mr Adonis Pouroulis as Non-Executive Chairman.

In addition, the adoption of new Bye-laws was approved at the SGM. The new Bye-laws are in a form which comply with the Financial Services Authority's (United Kingdom) Listing Rules Source Book and the UK Corporate Governance Code. The new Bye-laws are therefore more appropriate for the Company as it prepares for the admission, with a premium listing, of its entire issued share capital to the Official List of the UK Listing Authority, and for admission to trading on the London Stock Exchange's Main Market on or shortly after 8 December 2011.

A copy of the new Bye-laws is available on the Petra's website at the following weblink: www.petradiamonds.com/a/files/company-bye-laws-2011.pdf.

For further information, please contact:

Petra Diamonds, London	Telephone: [phone]
Cathy Malins	[e-mail]

Buchanan (PR Adviser)	Telephone: [phone]
Bobby Morse James Strong	[e-mail] [e-mail]

RBC Europe Limited (Financial Adviser and Joint Broker)	Telephone: [phone]
Joshua Critchley	[e-mail]
Martin Eales	[e-mail]

Canaccord Genuity Limited (NOMAD and Joint Broker)	Telephone: [phone]
Andrew Chubb	[e-mail]
Ryan Cohen	[e-mail]

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has a well-diversified portfolio, with interests in eight producing mines: seven in South Africa (Finsch, Cullinan, Koffiefontein, Kimberley Underground, Helam, Sedibeng and Star) and one in Tanzania (Williamson).

Petra offers an exceptional growth profile, with a core objective to steadily increase annual production to over 5 million carats by FY 2019. The Group has a major reserves and resources base in excess of 300 million carats.

Petra conducts all its operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company is quoted on the AIM market of the London Stock Exchange (AIM: PDL), and has announced its plans to step up to the Main Market on or shortly after 8 December 2011. For more information, visit www.petradiamonds.com.

 

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