Petra Diamonds

Petra Diamonds reported first-half 2026 EPS of $0.08 (forecast: -$0.02), while revenue of $100m was far below the expected $225m. Adjusted EBITDA rose 73% to $26m, and the statutory net loss amounted to $90m due to impairment charges. As a result, shares fell about 4.6% to $17. Management attributes the revenue shortfall to the timing of diamond tenders and maintains a cautious outlook for 2026 with a recovery penciled in for 2027. » Plus sur de.investing.com

S&P Global Ratings has downgraded Petra Diamonds to 'SD' (selective default) after the company completed a restructuring classified as a distressed debt exchange. Petra extended the maturities of its senior bank facility and its senior secured second‑lien notes, raised interest rates and carried out a rights issue of about £18.8m. The restructuring includes a cash‑or‑equity mechanism and improves liquidity and refinancing risk in the short term, but S&P considers it insufficiently compensating; a review is underway with a possible upgrade to upper 'CCC' or lower 'B'. » Plus sur de.investing.com

Petra Diamonds has completed all implementation steps of its refinancing plan; the amended debt instrument is in effect and all conditions have been met. The refinancing aims to fund ongoing capital projects, with incentive warrants issued to participants in the Incentivisation Plan and work fee warrants issued to members of the Working Group. The issued share capital comprises 319,861,762 ordinary shares of 0.05 pence each; executives and directors were allocated warrants, one third of which are already exercisable. Co-CEOs Vivek Gadodia and Juan Kemp described the completion as a pivotal moment for creating value for stakeholders. » Plus sur de.investing.com