GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

Today

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Petra to commence implementation of business restructuring

01 march 2021
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   Image credit: Petra Diamonds


Petra Diamonds is expected to commence the implementation of the company’s restructuring from early this month.
“…the company is pleased to announce that the scheme conditions effective date has occurred,” it said in a brief statement.
“Accordingly, implementation of the restructuring has commenced and it is expected that the restructuring effective date will occur on Wednesday 10 March 2021.”
Petra started a strategic review of its capital structure last year to find ways to clear a senior secured loan note of $650-million, which is due for repayment by May 1, 2022.
Key features of the restructuring include a partial reinstatement of the notes debt and the contribution by holders of the existing notes of $30 million in new money, each to take the form of new senior secured second-lien notes.
It is expected that the new notes will amount to about $337 million.
The restructuring will also see the conversion of the remainder of the notes debt into equity, which will result in the noteholders holding 91% of the enlarged share capital of Petra.
Petra’s investors ratified plans to restructure the business last January.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished