Business
Notification of Transactions of PDMR
Notification of Transactions of PDMR.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 8717R Petra Diamonds Limited 19 June 2018 \n\n\n\n\n\n\n\n\n\n\n\n \n \n \n\n\n\n19 June 2018\n\n\nLSE: PDL\n\n\n\n \nPetra Diamonds Limited \n(\"Petra\", \"the Company\" or \"the Group\")\n \nNotification of Transactions of PDMR\n \n \nPetra Diamonds Limited was notified today that Johan Dippenaar, Chief Executive Officer, and Jim Davidson, Technical Director, have entered into individual personal loan arrangements (\"Loans\") with Equities First Holdings LLC (the \"Lending Institution\") and have provided security for the Loans in favour of the Lending Institution by way of a legal mortgage (\"Security\") over, respectively, 2,500,000 and 1,000,000 Ordinary Shares in the Company of 10 pence each (\"Shares\"). \n \nThe purpose of the Loans granted to Mr Dippenaar and Mr Davidson is to enable them to follow their rights in full in respect of the Rights Issue, announced by the Company on 24 May 2018. The Loans are repayable in two years and contain reversionary rights in favour of Mr Dippenaar and Mr Davidson upon satisfaction of the Loans. A waiver has been granted by the Joint Bookrunners in relation to the 90 day Director irrevocable lock-up (details of which are set out in the prospectus dated 24 May 2018) in order to allow the grant of the Security.\n \nThe Directors' shareholding details are set out below:\n \n\n\n\n\n\n\nJohan Dippenaar\n \n\n\nJim Davidson\n\n\n\n\n\n\n\nNumber of ordinary shares\n\n\nPercentage of issued share capital\n \n\n\nNumber of ordinary shares\n\n\nPercentage of issued share capital\n\n\n\n\nCurrent holding\n\n\n5,160,511\n\n\n0.97%\n\n\n4,934,506\n\n\n0.93%\n\n\n\n\nSecurity\n\n\n2,500,000\n\n\n0.47%\n\n\n1,000,000\n\n\n0.19%\n\n\n\n\nHolding after Security\n\n\n2,660,511\n\n\n0.50%\n\n\n3,934,506\n\n\n0.74%\n\n\n\n\nRights Issue Shares being subscribed for\n\n\n3,225,319\n\n\n\n\n\n3,084,066\n\n\n\n\n\n\n\n\n\n\n5,885,830\n\n\n\n\n\n7,018,572\n\n\n\n\n\n\n\nTwo year reversionary right \n\n\n2,500,000\n\n\n\n\n\n1,000,000\n\n\n\n\n\n\n\nHolding after settlement of the Loan and release of the Shares\n\n\n8,385,830\n\n\n0.97%\n\n\n8,018,572\n\n\n0.93%\n\n\n\n \n \n \n \n \n \n \n\n\n\n1.\n\n\nDetails of PDMR / person closely associated with them ('PCA')\n\n\n\n\na)\n\n\n...