Capital Drilling Limited PROPOSED SECONDARY PLACING (0422L)
September 28 2016 - 2:00AM
UK Regulatory
TIDMCAPD
RNS Number : 0422L
Capital Drilling Limited
28 September 2016
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR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")
PROPOSED SECONDARY PLACING
Capital Drilling (LSE: CAPD), a leading drilling solutions
company focused on emerging and developing markets, announces that
certain Directors and founding shareholders (the "Vendors") of the
Company intend today to sell approximately 25,000,000 ordinary
shares of US$0.0001 each in the Company (the "Placing Shares") at a
price of 48p per Placing Share (the "Placing"). The Placing Shares
represent approximately GBP12 million in value and 18.5 per cent.
of the issued share capital of the Company.
The Vendors are undertaking the Placing in response to
institutional demand for the Placing Shares and in order to
increase the Company's free float and facilitate more liquidity in
the trading of the Company's shares. The Vendors each propose to
sell such number of Placing Shares as is pro rata to their existing
shareholding in the Company.
Following completion of the Placing, the Vendors and, in
particular the Directors, will continue to be substantial
shareholders in the Company and will remain fully aligned with its
success. None of the Vendors have any present intention to sell any
further shares in the Company following completion of the
Placing.
The completion of the Placing and number of Placing Shares to be
sold is at the sole discretion of the Vendors. Completion of the
Placing and the resulting Directors' shareholdings will be
announced as soon as practicable.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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