31st May 2006 15:02
Petra Diamonds Ld31 May 2006 31 May 2006 Petra Diamonds Limited Grant of Share Options Petra Diamonds Limited ("Petra" or "the Company"), the AIM-quoted and ASX-listeddiamond mining group, announces that the Company's Remuneration Committee todayresolved to grant the following share options over ordinary Petra shares. Adonis Pouroulis Chairman 250,000Johan Dippenaar Chief Executive Officer 250,000Jim Davidson Technical Director 250,000David Abery Finance Director 250,000 Due to the reporting requirements of AIM and ASX and the lengthy confidentialnegotiations surrounding the Xceldiam agreement as announced on 30 May 2006, theCompany has been in a close period for all of this year and has therefore beenunable to grant options to directors at the time it would ordinarily have doneso. The Remuneration Committee has resolved that the exercise price for theseoptions be the closing mid-market price of Petra's shares on 15 March 2006,being 79.5 pence per share. The Company released its interim results to 31December 2005 on 15 March 2006 and entered another close period in respect of anASX quarterly report on 31 March 2006. The Company was in advanced negotiationsthat were considered to be price sensitive with Xceldiam during a period whichincluded 15 March to 31 March 2006 and considered it prudent, with regards tothe AIM and ASX rules, not to grant options at that time. The options granted to Directors will be subject to the satisfaction ofappropriate performance conditions. As required under the rules of the ASX that may apply to the Company at thetime, the issue of any shares pursuant to the grant of these options will besubject to approval of ASX shareholders. - Ends - For further information, please contact: Justine Howarth / Cathy Malins Telephone: +44 (0) 20 7493 3713Parkgreen Communications, London This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Petra Diamonds