Business
Publication of Revised Notice of Annual Gener...
Publication of Revised Notice of Annual Gener....
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n\n \n \n\n\n\n\n\t\t\t\t\t\t\t\t\t14 October 2024\t\t\t\t\t\t\t\t\tLSE: PDL\t\t\t\t\t\t Petra Diamonds(Petra or the Company) Publication of Revised Notice of Annual General MeetingFurther to the Company’s announcement on 24 September 2024 of the publication of, amongst other things, Petra’s Notice of Annual General Meeting (AGM) ahead of its AGM to be held at 9:00 a.m. GMT on 13 November 2024, the Company announces that it will seek approval for additional ordinary resolutions at the AGM and it has for that purpose published a revised Notice of AGM (Revised Notice of AGM) on the Company’s website at https://www.petradiamonds.com/investors/shareholders/meetings/. The Revised Notice of AGM will be posted to shareholders on 15 October 2024 and replaces the original Notice of AGM that was published on Petra’s website on 24 September 2024 in its entirety. The AGM will continue to be held at 9:00 a.m. GMT on 13 November 2024 at One Heddon Street, London, W1B 4BD, United Kingdom.One of the additional ordinary resolutions contained in the Revised Notice of AGM is resolution number 13 which will, if passed, amend Bye-law 82 (Takeover Provisions) of the Company’s Bye-Laws.The effect of the proposed amendment to Bye-law 82.1 is, in summary, to increase the control threshold at and above which acquisitions of interests in shares are currently prohibited under the Bye-laws (unless they comprise Permitted Acquisitions, as such term is defined in the Bye-laws) from 30 per cent. to 35 per cent. No other changes to Bye-law 82 or any of the Company's other Bye-laws are proposed. Further details on the purpose and effect of Bye-law 82 can be found in the Notice of AGM. The proposed amendment to Bye-law 82 will enable a shareholder potentially to acquire a holding of up to 35 per cent. of the Company's shares without being obliged to make a mandatory offer for the remaining shares or otherwise obtaining the prior consent of the Board. Acquisitions above this level will remain prohibited under Bye-law 82, unless they comprise Permitted Acquisitions, on the same basis as that are currently prohibited under the Bye-laws. The Board considers that if Bye-law 82 is amended in this way, the increased ability of shareholders to acquire higher volumes of shares in the Company ...