Petra Diamonds Ltd - Results of AGM

Spectris

2,552.00p

15:45 15/11/24

0.55%

14.00p

Petra Diamonds Ltd - Results of AGM

PR Newswire

LONDON, United Kingdom, November 13

A picture containing text, clipartDescription automatically generated

13 November 2024

LSE: PDL

Petra Diamonds Limited
(Petra or the Company)

Results of Annual General Meeting

Petra Diamonds Limited announces that, at its Annual General Meeting (AGM) held earlier today, all resolutions set out in the revised Notice of AGM put to the AGM were passed by the requisite majority.

The full text of each resolution is contained in the revised Notice of AGM, which is available on the Company's website at https://www.petradiamonds.com/investors/shareholders/meetings/.

Each of the resolutions put to the Annual General Meeting was voted on by way of a poll and the results are set out below. Resolution 5 was withdrawn prior to the AGM as Ms Shine did not offer herself up for re-election as a Director of the Company, as announced on 11 November 2024.

Resolutions		Votes for (incl discretionary)	% of Votes cast	Votes against	% of Votes Cast	Total Votes Cast	Total Votes Withheld
ORDINARY RESOLUTIONS
	To receive the Financial Statements of the Company for the year ended 30 June 2024, together with the Reports of the Directors and Auditors (the Annual Report).	142,248,410	100.00%	-	0.00%	226	142,248,410
	To approve the Directors’ Annual Remuneration Report for the year ended 30 June 2024, as contained in the Annual Report.	142,246,798	100.00%	1,612	0.00%	226	142,248,410
	To re-appoint BDO LLP as auditors to hold office until the conclusion of the next AGM of the Company.	113,210,509	79.59%	29,037,944	20.41%	183	142,248,227
	To authorise the Directors of the Company to fix the remuneration of the auditors.	142,243,390	100.00%	5,063	0.00%	183	142,248,227
	To re-elect Ms Varda Shine who retires in accordance with the Company’s Bye-Laws, as a Director of the Company.	RESOLUTION WITHDRAWN
	To re-elect Mr Richard Neil Duffy, who retires in accordance with the Company’s Bye-Laws, as a Director of the Company.	113,173,930	79.56%	29,074,502	20.44%	204	142,248,432
	To re-elect Mr Bernard Robert Pryor, who retires in accordance with the Company’s Bye-Laws, as a Director of the Company.	142,073,611	99.88%	174,821	0.12%	204	142,248,432
	To re-elect Ms Deborah Gudgeon, who retires in accordance with the Company’s Bye-Laws, as a Director of the Company.	142,060,673	99.87%	187,759	0.13%	204	142,248,432
	To re-elect Ms Hillaren Lerato Molebatsi, who retires in accordance with the Company’s Bye-Laws, as a Director of the Company.	142,073,354	99.88%	175,078	0.12%	204	142,248,432
	To elect Mr José Manuel Vargas who was appointed by the Company’s Board of Directors in accordance with the Company’s Bye-Laws from 1 January 2024, as a Director of the Company.	142,207,835	99.97%	40,597	0.03%	204	142,248,432
	On an advisory basis, to support the appointment of Mr Amre Youness as a Board Observer from 1 May 2024, entitling him to attend but not vote at Board meetings.	141,662,455	99.63%	528,402	0.37%	57,779	142,190,857
	On an advisory basis, to support the appointment of Ms Alexandra Watson as a Board Observer from 17 February 2024, entitling her to attend but not vote at Board meetings.	84,795,129	59.63%	57,395,728	40.37%	57,779	142,190,857
	To amend Bye-law 82.1 of the Company’s Bye-laws by deleting and substituting it with the amended Bye-law set out in the revised Notice of AGM.	116,013,540	81.59%	26,177,349	18.41%	57,747	142,190,889

Notes:

The Board notes that although resolutions 3, 6, 12 and 13 passed, these resolutions had a significant number of votes cast against them. The Board will continue its ongoing dialogue with Shareholders and consult as appropriate to fully understand any concerns in relation to these resolutions. In accordance with provision 4 of the 2018 UK Corporate Governance Code, the Board shall provide an update on these engagements within six months of the AGM.

As set out in the Company's announcement on 11 November 2024, Varda Shine did not offer herself up for re-election as a Director at the AGM and therefore ceased to be Chair of the Board as well as the Nomination and Investment Committees immediately following the conclusion of the AGM today. At the time at which that announcement was made, over 99% of votes cast were in favour of Ms Shine’s re-appointment. As also set out in that announcement, José Manuel Vargas has been appointed Chair of the Board and Chair of the Investment Committee, with effect from the conclusion of the AGM today. Bernard Pryor, Senior Independent Director and Chair of the Remuneration Committee, will become Chair of the Nomination Committee.

~ Ends ~

For further information, please contact:

Petra Diamonds, London Telephone: +44 20 7494 8203

Patrick Pittaway [email protected]

Kelsey Traynor

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 (the Finsch and Cullinan Mines) and one open pit mine in Tanzania (Williamson).

Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base which supports the potential for long-life operations.

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 Group 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 with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL'. The Group's loan notes, due in 2026, are listed on the Irish Stock Exchange and admitted to trading on the Global Exchange Market. For more information, visit www.petradiamonds.com.