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28 Sep 2016 13:05
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
FOR IMMEDIATE RELEASE 28 SEPTEMBER 2016
Capital Drilling Limited("Capital Drilling", the "Group" or "the Company")
COMPLETION OF SECONDARY PLACING
Capital Drilling (LSE: CAPD), a leading drilling solutions company focused on emerging and developing markets, announces that further to the announcement released earlier this morning, certain Directors and founding shareholders of the Company (the "Vendors") have sold 25,500,000 existing ordinary shares of US$0.0001 in the Company (the "Placing Shares") at 48p per Placing Share representing approximately 18.9% of the Company's issued share capital (the "Placing").
The Placing was conducted through an accelerated bookbuild with finnCap Ltd ("finnCap") and Tamesis Partners LLP ("Tamesis").
Subsequent to the Placing, and in accordance with Disclosure and Transparency Rule 3.1.4, the revised shareholdings in the Company of those Vendors who are directors or PDMRs of the Company under the Disclosure and Transparency Rules are as follows and the Notification of Dealing Forms required under the EU Market Abuse Regulation are set out at the end of this announcement:
Director | Placing Shares sold | Resultant Shareholding
| ||
Number of Placing Shares | % of issued share capital | Number of Ordinary Shares | % of issued share capital | |
Jamie Boyton | 7,690,949 | 5.70 | 20,850,182 | 15.46 |
Brian Rudd | 5,499,772 | 4.08 | 14,909,905 | 11.05 |
David Payne | 1,165,004 | 0.86 | 3,158,333 | 2.34 |
Craig Burton | 7,670,735 | 5.69 | 20,795,394 | 15.42 |
Mark Parsons, CEO of Capital Drilling, commented: "Over the last year Capital Drilling has seen a significant improvement in its core business which has in turn generated significant demand from a range of investors for equity in the Company. In recognition of that demand the Directors have reduced their collective holding from 70% to 51% through the Placing to a combination of existing and new shareholders. The completion of this Placing has simultaneously broadened our shareholder base, satisfied significant market demand, increased share liquidity, whilst retaining a substantial stake in the Company for the existing management team. Capital Drilling is pleased by the positive response from our new and existing shareholders to the Placing and we look forward to continuing to generate returns for our broader shareholder base."
Jamie Boyton, Chairman of Capital Drilling, further commented: "The founders of Capital Drilling are pleased to have facilitated the entry of some excellent institutions onto our share register. The Board and management teams are committed to retaining a significant stake in the Company, aligning our interests entirely with all of our shareholders, and we look forward to making further progress in growing the business, in an improving market for our drilling services."
For further information, please visit Capital Drilling's website www.capdrill.com or contact:
Capital Drilling +230 464 3250
Jamie Boyton, Chairman investor@capdrill.com
Mark Parsons, Chief Executive Officer
finnCap +44 (0)20 7220 0500
Christopher Raggett, Corporate Finance
Joanna Scott/Simon Johnson, Corporate Broking
Tamesis +44 (0)20 7389 5021
Richard Greenfield/Charlie Bendon
Buchanan +44 (0)20 7466 5000
Bobby Morse capitaldrilling@buchanan.uk.com
Gemma Mostyn-Owen
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
About Capital Drilling
Capital Drilling provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 96 drilling rigs with established operations in Botswana, Chile, Egypt, Ethiopia, Kenya, Mali, Mauritania, Serbia and Tanzania. The Group's corporate headquarters is in Mauritius.
Notification of Dealing Forms
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jamie Boyton | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Executive Chairman | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capital Drilling Limited | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | ordinary shares of US$0.0001 each ("Ordinary Shares") | ||||
Identification code | BMG022411000 | |||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Single transaction | ||||
e) | Date of the transaction | 28 September 2016 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Brian Rudd | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Executive Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capital Drilling Limited | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | ordinary shares of US$0.0001 each ("Ordinary Shares") | ||||
Identification code | BMG022411000 | |||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Single transaction | ||||
e) | Date of the transaction | 28 September 2016 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | David Payne | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Chief Operating Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capital Drilling Limited | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | ordinary shares of US$0.0001 each ("Ordinary Shares") | ||||
Identification code | BMG022411000 | |||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Single transaction | ||||
e) | Date of the transaction | 28 September 2016 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Craig Burton | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capital Drilling Limited | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | ordinary shares of US$0.0001 each ("Ordinary Shares") | ||||
Identification code | BMG022411000 | |||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Single transaction | ||||
e) | Date of the transaction | 28 September 2016 | ||||
f) | Place of the transaction | London Stock Exchange (XLON) | ||||
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