Last checked at 12 Jun 2020 12:08
For Immediate Release | 12 June 2020 |
Capital Drilling Limited
("Capital Drilling", the "Group" or the "Company")
Results of Annual General Meeting
The Board of Directors of Capital Drilling announces that all resolutions put to shareholders at today's annual general meeting were duly passed.
Of 136,980,903 issued shares 103,032,443 voted, representing 75.22% of total shares issued.
Following today's AGM, Executive Chairman Jamie Boyton gave a short presentation followed by a Q&A session with the Board for shareholders. The presentation can be found here (https://www.capdrill.com/investors/announcements) and included the following highlights:
Q2 2020 Trading Update and COVID-19 Update
• Q2 20 revenue expected to be broadly consistent with Q1 20, continuing the strong revenue growth on 2019
• Operations continue to perform strongly with no Capital sites being meaningfully impacted by COVID-19, with the impact to operations limited to;
- The movement of people, particularly international travel
- Increased RDO's (rostered days off) for fatigue management
- Slower movement of goods across the supply chain
• Experienced delays in the resumption of greenfield exploration drilling, primarily due to travel restrictions
Outlook
• Current gold prices providing a highly supportive environment for increased activity levels in exploration and delineation drilling
• Financing activities have increased in May 2020 providing solid balance sheet support for junior and intermediate explorers
• Increasing demand from existing clients, reflecting improved operating cash flows and increased operating budgets
• Improved tendering pipeline across all business units pointing to strong demand growth which we expect will materialise in H2 2020, following the easing of travel restrictions and end of the wet season in West Africa
The details of the proxy votes lodged are set out below:
RESOLUTION NUMBER | FOR | AGAINST | WITHHELD | TOTAL |
1 | 102,923,455 | 108,267 | 721 | 103,032,443 |
2 | 102,923,455 | 108,267 | 721 | 103,032,443 |
3 | 59,178,695 | 127,245 | 43,726,503 | 103,032,443 |
4 | 66,599,834 | 127,245 | 36,305,364 | 103,032,443 |
5 | 66,599,834 | 127,245 | 36,305,364 | 103,032,443 |
6 | 81,524,479 | 108,267 | 21,399,697 | 103,032,443 |
7 | 87,941,443 | 127,245 | 14,963,755 | 103,032,443 |
8 | 65,906,089 | 15,743,228 | 21,383,126 | 103,032,443 |
9 | 87,960,421 | 15,071,301 | 721 | 103,032,443 |
10 | 91,717,914 | 3,830,421 | 7,484,108 | 103,032,443 |
11 | 91,753,967 | 3,767,170 | 7,511,306 | 103,032,443 |
12 | 102,858,806 | 153,938 | 19,699 | 103,032,443 |
13 | 91,753,967 | 3,767,170 | 7,511,306 | 103,032,443 |
14 | 102,833,530 | 127,668 | 71,245 | 103,032,443 |
- ENDS -
For further information, please visit Capital Drilling's website www.capdrill.com or contact:
Capital Drilling Limited +230 464 3250
Jamie Boyton, Executive Chairman investor@capdrill.com
André Koekemoer, Chief Financial Officer
Rick Robson, Executive - Corporate Development
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Wyllie
Detlir Elezi
Tamesis Partners LLP +44 20 3882 2868
Charlie Bendon
Richard Greenfield
Buchanan +44 20 7466 5000
Bobby Morse capitaldrilling@buchanan.uk.com
Kelsey Traynor
James Husband
About Capital Drilling
Capital Drilling is a leading mining services business providing a complete range of drilling and mine site services to mineral exploration and mining companies, with a focus on the African markets. The company's services include: exploration, development, drill and blast and grade control drilling for surface and underground projects and load and haul services. The Group's corporate headquarters are in Mauritius and it has established operations in Botswana, Burkina Faso, Côte d'Ivoire, Egypt, Mali, Mauritania, Namibia, Nigeria and Tanzania.