Business
Grant of Share Options
Grant of Share Options.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n07 December 2007\n\n7 December 2007\n AIM:PDL\n\n\n Petra Diamonds Limited\n\n Directors Dealing\n\n Grant of Share Options\n\nPetra Diamonds Limited ('Petra' or 'the Company') announces that the Company's\nRemuneration Committee resolved on 6 December 2007 to grant the following share\noptions over ordinary Petra shares:\n\nAdonis Pouroulis Chairman 300,000\nJohan Dippenaar Chief Executive Officer 300,000\nJim Davidson Technical Director 300,000\nDavid Abery Finance Director 300,000\n\n\nDue to the confidential bid process for the Cullinan diamond mine which was\nunderway from 8 October 2007 (when the Company released its preliminary results)\nto 22 November when the Company signed the agreements for the consortium to\nacquire the Cullinan mine, the Company has been in a close period and was\ntherefore unable to grant options when the preliminary results were released, as\nit would ordinarily have done so.\n\nTherefore the Remuneration Committee has resolved that the exercise price for\nthese options be the closing mid-market price of Petra's shares on 8 October\n2007, being 125 pence per share, which is the exercise price at which the\noptions would have been granted but for the close period due to the Cullinan bid\nprocess.\n\nThe options granted to Directors will be subject to the satisfaction of\nappropriate performance conditions.\n\n\nEnds\n\n\nCathy Malins Telephone: +44 (0) 20 7493 7671\nPetra Diamonds, London\n\nJustine Howarth / Louise Goodeve Telephone: +44 (0) 20 7851 7480\nParkgreen Communications, London\n\nAdrian Hadden Telephone: +44 (0) 20 7523 8000\nCollins Stewart, London\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2313,"tagName":"div"}]