Last checked at 24 Feb 2022 07:00
FOR IMMEDIATE RELEASE
24 FEBRUARY 2022
Capital Limited
("Capital", the "Group" or the "Company")
Completion of Share Buyback Programme & FY21 Results Announcement
Capital (LSE: CAPD), a leading mining services company focused on the African markets, is pleased to announce the completion of its share buyback programme ("the Buyback Programme"), which was announced on 4 January 2022. During the Buyback Programme, the company purchased 1,974,551 shares at a total cost of approximately $2.5 million.
The Buyback Programme was undertaken to reduce Capital's share capital and meet obligations arising from share option initiatives.
The Buyback Programme was managed by Stifel Nicolaus Europe Limited ("Stifel"), following a buyback agreement entered on 31 December 2021.
Furthermore, Capital will announce its Full Year 2021 results on 10 March 2022, alongside the Group's guidance for 2022 and Capital's recommended final dividend payment.
Commenting on the Buyback Programme and the forthcoming FY21 results, Jamie Boyton, Executive Chairman, said:
"Capital remains focused on growth and shareholder returns, and this Buyback Programme reflects the Company's balanced capital allocation approach as well as the Board's significant confidence in the business and its ongoing development strategy. As we look to 2022, we will be releasing our outlook for 2022 alongside our FY21 results on the 10 March 2022."
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For further information, please visit Capital's website www.capdrill.com or contact:
Capital Limited Jamie Boyton, Executive Chairman Giles Everist, Chief Financial Officer Conor Rowley, Investor Relations & Corporate Development Manager
| +230 464 3250 investor@capdrill.com |
Berenberg Matthew Armitt Jennifer Wyllie Detlir Elezi
| +44 20 3207 7800
|
Tamesis Partners LLP Charlie Bendon Richard Greenfield
| +44 20 3882 2868 |
Stifel Nicolaus Europe Limited Ashton Clanfield Callum Stewart Rory Blundell
| +44 20 7710 7600 |
Buchanan Bobby Morse James Husband | +44 20 7466 5000 capital@buchanan.uk.com |
About Capital Limited
Capital Limited is a leading mining services company providing a complete range of drilling, mining, maintenance and geochemical laboratory solutions to customers within the global minerals industry, focusing on the African markets. The Company's services include: exploration, delineation and production drilling; load and haul services; mining equipment hire and maintenance; and geochemical analysis. The Group's corporate headquarters are in Mauritius, and it has established operations in Burkina Faso, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali, Mauritania, Nigeria, Saudi Arabia and Tanzania.