GJ Town India

Petra Diamonds announces the sale of the 424.89 carat ‘Legacy of the Cullinan Diamond Mine’ to Stargems Group / Choron (Belgium) BVBA for just under $15 million. This exceptional D colour Type IIa gem mined from the Cullinan C-Cut adds to the most famous diamonds to have originated from this historic mine. Richard Duffy, Chief Executive Officer, commented on the sale, “This is a significant sale for Petra Diamonds and an endorsement of the quality not only of the Legacy diamond, but also the Cullinan ore body itself, which is known for its exceptional stones.” Mr Shailesh Javeri, Chairman of Stargems Group commented, “The Cullinan Diamond Mine has produced some of the most iconic diamonds the world has ever seen and as a key client of Petra Diamonds we are honoured to have the opportunity to polish the ‘Legacy of the Cullinan Diamond Mine’.”

Helam has the potential to be a small-scale sustainable Petra Diamonds Limited announces that it has entered into a Sale of Shares and Claims Agreement with regards to the disposal of the Company's and its black economic empowerment partners' interest in Helam Mining Pty  Ltd, is a Diamond Mine in South Africa owned by Petra Diamonds, to Lindleys Mining Pty Ltd for a nominal consideration of ZAR200 million with immediate effect. The Helam mine was put on care on maintenance by the Company during FY 2015, following previous attempts to source a suitable purchaser, and no mining activities have been conducted by Petra since then. The rationale for the disposal is to support the South African Government’s intention to prolong the lives of mines facing closure by facilitating opportunities for emerging miners to the benefit of entrepreneurs, host communities and local employment. The disposal is also in line with Petra’s strategic priorities, which include that

Completion of Disposal of Interest in Kimberley Ekapa Mining Joint Venture (KEM JV) Petra Diamonds Limited announces that the disposal of the Company’s and its black economic empowerment (BEE) partners' 75.9% interest in the KEM JV to the Company’s joint venture partner Ekapa Mining (Pty) Ltd (Ekapa Mining) for a cash consideration of ca. ZAR300 million, as previously announced on 5 July 2018, completed following all conditions precedent in the terms of the agreement having been met.   KEM JV was a joint venture between Petra and its partner Ekapa Mining and incorporates the Kimberley Underground mine, extensive tailings retreatment programmes and the high volume Central Treatment Plant – all located in or around the historic diamond mining centre of Kimberley in South Africa. The Disposal is on a going concern basis, with Ekapa Mining taking on all of the Company’s financial, employee, environmental, health, safety and social obligations with regards to the KEM JV

Binding Heads of Agreement reached post Year end with regards to the disposal of the Company's interest in the KEM JV to Petra's joint venture partner Ekapa Mining Pty Ltd. As noted in the FY 2018 Trading Update, the Nomination Committee is currently in year two of its three year succession plan and is continuing to review its Board, board committee and senior management structures. Good progress is being made with plans to make additional changes in FY 2019 in order to ensure the Company has the right mix of expertise and skills. New non-executive appointments are currently being confirmed with a view to making an announcement in this regard in October 2018. As part of the Nomination Committee Succession plan, a process to identify a successor for the CEO position has now commenced. In line with the Company's development from a phase of intensive capital expenditure and expansion to a focus on steady state operations, Johan Dippenaar will be stepping down from