REG - Petra Diamonds Ltd - Result of AGM

Petra DiamondsAnnouncement

14/11/2023 11:15

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RNS Number : 4073T  Petra Diamonds Limited  14 November 2023

 14 November 2023    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 Notice of AGM put to the
AGM were passed by the requisite majority.

The full text of each resolution is contained in the Notice of AGM, which is
available on the Company's website
at https://www.petradiamonds.com/investors/shareholders/meetings/
(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 Resolution 6 was withdrawn prior
to the AGM as Mr Peter Hill CBE did not offer himself up for re-election as a
Director of the Company, as announced on 13 November 2023.

 Resolutions                                                                     Votes for (incl discretionary)  % of Votes cast  Votes against  % of Votes Cast  Total Votes Cast  Total Votes Withheld
 Ordinary resolutions
 1. To receive the Financial Statements of the Company for the year ended 30     131,093,808                     99.77            300,312        0.23             131,394,120       127,485
 June 2023, together with the Reports of the Directors and Auditors (the 2023
 Annual Report).
 2. To approve the Directors' Remuneration Policy, as contained in the 2023      128,932,971                     98.03            2,587,621      1.97             131,520,592       1,013
 Annual Report.
 3. To approve the Directors' Annual Remuneration Report (other than the part    128,933,692                     98.03            2,586,900      1.97             131,520,592       1,013
 containing the Directors' Remuneration Policy) for the year ended 30 June
 2023, as contained in the 2023 Annual Report.
 4. To re-appoint BDO LLP as auditors to hold office until the conclusion of     131,218,269                     99.77            302,323        0.23             131,520,592       1,013
 the next AGM of the Company.
 5. To authorise the Directors of the Company to fix the remuneration of the     131,218,308                     99.77            302,284        0.23             131,520,592       1,013
 auditors.
 6. To re-elect Mr Peter John Hill, who retires in accordance with the           RESOLUTION WITHDRAWN
 Company's Bye-Laws, as a Director of the Company.
 7.  To re-elect Mr Richard Neil Duffy, who retires in accordance with the       131,218,041                     99.77            302,551        0.23             131,520,592       1,013
 Company's Bye-Laws, as a Director of the Company.
 8.  To re-elect Mr Jacques Breytenbach, who retires in accordance with the      117,598,780                     89.41            13,921,812     10.59            131,520,592       1,013
 Company's Bye-Laws, as a Director of the Company.
 9. To re-elect Ms Varda Shine, who retires in accordance with the Company's     128,477,372                     97.69            3,043,220      2.31             131,520,592       1,013
 Bye-Laws, as a Director of the Company.
 10. To re-elect Mr Bernard Robert Pryor, who retires in accordance with the     111,672,135                     84.91            19,848,457     15.09            131,520,592       1,013
 Company's Bye-Laws, as a Director of the Company.
 11. To re-elect Ms Deborah Gudgeon, who retires in accordance with the          111,659,454                     84.90            19,861,138     15.10            131,520,592       1,013
 Company's Bye-Laws, as a Director of the Company.
 12. To re-elect Ms Alexandra Watson, who retires in accordance with the         109,871,731                     83.54            21,648,861     16.46            131,520,592       1,013
 Company's Bye-Laws, as a Director of the Company.
 13. To re-elect Mr Jon Stephen Dudas, who retires in accordance with the        130,761,556                     99.42            759,036        0.58             131,520,592       1,013
 Company's Bye-Laws, as a Director of the Company.
 14. To elect Ms Hillaren Lerato Molebatsi who was appointed by the Company's    130,838,060                     99.77            302,544        0.23             131,140,604       1,013
 Board of Directors in accordance with the Company's Bye-Laws on 3 April 2023,
 as a Director of the Company.
 15. To authorise the Directors of the Company to issue and allot Relevant       82,620,905                      62.82            48,899,687     37.18            131,520,592       1,013
 Securities within the meaning of Bye-Law 2.4 of the Company's Bye-Laws up to
 an aggregate nominal amount of £32,366.96 up until the next AGM of the
 Company.

(1)   The Board notes that although resolution 15, passed, it had a
significant number of votes cast against it. The Board will continue its
ongoing dialogue with Shareholders and consult as appropriate to fully
understand any concerns in relation to this resolution. 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.

 

(2)   As explained in the Company's announcement on 13 November 2023, Peter
Hill CBE did not offer himself up for re-election as a Director at the AGM
and therefore ceased to be Chair of the Board and the Nomination and
Investment Committees immediately following the conclusion of the AGM
today. As explained in the Company's announcement on 13 November 2023,
Varda Shine has been appointed interim Chair of the Board and Chair of the
Nomination and Investment Committees, with effect from the conclusion of the
AGM today.  Bernard Pryor, Non-Executive Director and Chair of the Health and
Safety Committee will become the interim Senior Independent Director. Varda
Shine will remain as Chair of the Remuneration Committee.

 

(3)   As explained in the Company's 2023 Annual Report, Johannes
Bhatt retired from the Board  immediately following the conclusion of the
AGM today.

~ Ends ~

 

For further information, please contact:

 

Petra Diamonds,
London
Telephone: +44 20 7494 8203

Patrick
Pittaway
investorrelations@petradiamonds.com
(mailto:investorrelations@petradiamonds.com)

Julia Stone
 

 

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 three underground mines in South
Africa (Finsch, Cullinan Mine and Koffiefontein) and one open pit mine
in Tanzania (Williamson). The Koffiefontein mine is currently on care and
maintenance in preparation of closure.

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
(http://www.petradiamonds.com/) .

 

 

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