Petra’s shareholder Awal Bank sells 43 million shares of Petra

Petra Diamonds Limited noted that Awal Bank BSC (in administration) ("Awal Bank"), sold 43 million shares it held in the company, for 190 pence per share. RBC Capital Markets was the sole manager of this sale which was made with financial institutions. A further 13.2 million shares held by Awal Bank are subject to a 90 day lock-up.

Awal Bank is owned by the Saad Group. The Saad Investments Company Limited / Awal Bank holding prior to the sale was 11.9 percent. Petra notes that Awal was its second largest shareholder.