Business
Drawdown of Convertible Bond
Drawdown of Convertible Bond.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n05 October 2006\n\n\n Petra Diamonds Limited\n\n Drawdown of US$20 million Convertible Bond\n\nPetra Diamonds Limited ('Petra' or 'the Company'), the AIM-quoted and ASX-listed\ndiamond mining group, announces that further to the announcement of 19 September\n2006 with regards to the issue of a US$20 million unsecured, interest free\nconvertible bond ('the Convertible') to Al Rajhi Holdings W.L.L, Petra has today\ndrawn down the US$20 million under the terms of the Convertible.\n\n\nAs stated in the announcement of 19 September 2006, the Company is currently\nevaluating opportunities that the board of Petra believe may have the potential\nto grow revenue and cash flow, and the Company will provide further information\nshould any of these opportunities progress to formal agreements. In the\nmeantime, the proceeds of the Convertible will be held by Petra and accrue bank\ndeposit interest and any acquisitions or other business developments will be\nsubject to the Company's demanding review criteria.\n\n\nEnds\n\n\nFor further information, please contact:\n\n\nJustine Howarth / Cathy Malins Telephone: +44 (0) 20 7493 3713\nParkgreen Communications, London\n\n\nFor further information on Petra Diamonds, please visit www.petradiamonds.com\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1548,"tagName":"div"}]