THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
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1 October 2026 LSE: PDL
Petra Diamonds Limited
(the "Company")
Strategic Review and Directorate Change
The Board of the Company announces that, following consultation with certain key
stakeholders including its first and second lien creditors, it has decided to
undertake a strategic review, which will include the consideration of all
potential paths to address liquidity needs of the business, in the near term,
including but not limited to a potential sales process in relation to the
Company's assets (the "Strategic Review").
The Board is finalising the appointment of a financial adviser in connection
with the Strategic Review, and further announcements will be made in this
regard, as appropriate.
The Board of the Company also announces that with effect from today, José Manuel
Vargas has decided to step down as Chair of the Board and as Director of the
Company. Lerato Molebatsi will take up the position of Chair of the Board, with
effect from today, on an interim basis.
The Board would like to thank José Manuel for his considerable contribution to
the Company, notably the successful conclusion of the Company's re-financing in
2025 and the clear direction provided in helping the Company navigate through
unprecedented times in the natural diamond sector over the past few years.
FURTHER INFORMATION
There is no certainty as to the outcome of the Strategic Review. The Board will
make further announcements in due course.
The person responsible for releasing this announcement is Tumi Dakada, Acting
General Counsel and Company Secretary of the Company.
For further information, please contact:
Investor Relations, London
Telephone: +44 (0)7495470187
Julia Stone and Kelsey Traynorinvestorrelations@petradiamonds.com
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as
it forms part of UK domestic law by virtue of the European Union (Withdrawal)
Act 2018 as amended.
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and a supplier of
gem quality rough diamonds to the international market. The Company's portfolio
incorporates interests in two underground mines in South Africa (Cullinan Mine
and Finsch). The Group's principal operating asset is Cullinan Mine. Finsch
entered business rescue on 29 May 2026.
Petra strives to conduct all operations according to the highest ethical
standards and only operates in countries which are members of the Kimberley
Process. The Company aims to generate tangible value for each of its
stakeholders, thereby contributing to the socio-economic development of its host
countries and supporting long-term sustainable operations to the benefit of its
employees, partners and communities.
Petra is quoted on the Main Market of the London Stock Exchange under the ticker
'PDL'. The Company's loan notes, due in 2030, are listed on EuroNext Dublin
(Irish Stock Exchange). For more information, visit www.petradiamonds.com.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/petra-diamonds-limited/r/strategic-review-and-directorate-change,c4403567
