Business
Statement Regarding Voting at November 2018 AGM
Statement Regarding Voting at November 2018 AGM.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 3690T Petra Diamonds Limited 20 March 2019 \n\n \n \n \n \n \n \n\n\n\n20 March 2019\n\n\n LSE: PDL\n\n\n\n \nPetra Diamonds Limited\n(\"Petra,\" the \"Company\" or the \"Group\")\n \nStatement Regarding Voting at November 2018 Annual General Meeting\n \nIn accordance with the U.K. Corporate Governance Code, the Board of Petra Diamonds Limited provides the following statement regarding the voting at the November 2018 Annual General Meeting. \n \nThe Board and Nomination Committee of Petra Diamonds Limited have considered the 22.12% vote recorded against the re-election of Adonis Pouroulis as Chairman in the context of our ongoing three-year Succession Plan. In addition, we have considered the concerns raised by our shareholders. \n \nThe Board has reaffirmed its assessment that the Chairman continues to demonstrate the independence of thought and challenge required for his role, notwithstanding the number of years he has served as a Director. \n \nThe Board notes the announcement of the appointment of Richard Duffy as the new CEO with effect from 1 April 2019, following a process announced in September 2018, and the appointment of two new Independent Non-Executive Directors, Mr Bernard Pryor and Mrs Varda Shine, effective from 1 January 2019. \n \nIn order to ensure continuity and stability of leadership and management, the appointment of a new Chairman is not considered appropriate at this time. The situation will remain under review as the Nomination Committee is in the final year of its three-year Succession Plan, and as previously announced, the Committee expects to make further changes to the composition of the Board during this calendar year.\n \n \n~ Ends ~\n \n \nFor further information, please contact:\n \nPetra Diamonds, London Telephone: +44 20 7494 8203\nMarianna Bowes &...