trending Market Intelligence /marketintelligence/en/news-insights/trending/_ijcbcqooa_soo5y9rjevw2 content esgSubNav
In This List

Petra Diamonds shareholders back rights issue

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Petra Diamonds shareholders back rights issue

Petra Diamonds Ltd. on June 13 announced the voting results from its special general meeting the same day, with 99% of shareholder votes supporting the approximately US$170 million rights issue announced in late May.

The group said in May that its financial position had been weakened by the delay in bringing online a new plant at the Cullinan project in South Africa, which had a knock-on impact on its ability to ramp up production at the new C-Cut Block Cave there and resulted in an operating cash flow deficit of about US$130 million.

Final results of the rights issue take-up are expected at the end of June.