Capital Drilling Limited Board Changes (3124S)
October 02 2017 - 1:00AM
UK Regulatory
TIDMCAPD
RNS Number : 3124S
Capital Drilling Limited
02 October 2017
FOR IMMEDIATE RELEASE 2 October 2017
Capital Drilling Limited
("Capital Drilling", the "Group" or the "Company")
Board Changes
Capital Drilling Limited (CAPD:LN), a leading drilling solutions
company focused on emerging and developing markets, announces
changes to its Board of Directors. Mr Tim Read, the Company's
Senior Independent Director has given notice of his intention to
retire at the end of the current financial year. As part of an
orderly succession process, the Company is delighted to announce
the appointment of Mr David Abery as an Independent Non-Executive
Director of the Company and Audit Committee Chairman, with
immediate effect.
Mr Abery was previously Finance Director of Petra Diamonds
Limited, from 2003 to 2016. Petra is an LSE Main Board Premium
listed diamond mining Group with 2017 revenue of US$477 million and
operations spanning South Africa, Tanzania and Botswana. Mr Abery,
a Chartered Accountant, brings with him extensive experience of
financial, commercial and strategic matters in African and UK
corporate environments at both board and operational level, as well
as many years' experience of corporate governance, regulatory and
investor relations best practice.
Mr Abery will take over from Mr Read as Audit Committee Chair,
and will also join the Remuneration and Nomination Committees with
immediate effect. There will be a transition period until 31
December 2017 during which Mr Read will continue in his role as
Senior Independent Non-Executive Director and a member of the
Group's Audit, Remuneration and Nomination Committees. At the end
of this period, Mr Abery will be appointed as Senior Independent
Non-Executive Director and Mr Read will retire from the Board.
Mr Abery is considered to meet the requirements to be classified
as an independent director under the UK Corporate Governance
Code.
Jamie Boyton, Chairman of Capital Drilling, commented:
"We are delighted to welcome Mr Abery to the Board. Mr Abery
brings a wealth of experience in company growth, strategy and
corporate finance, as well as many years of listed company board
and corporate governance experience. His skills will further
broaden the Board's capabilities. I would also like to take this
opportunity to thank Mr Read for his valuable contribution to
Capital Drilling over the last 7 years and his assistance over the
coming months as we transition the Board."
Regulatory disclosures
Mr Abery does not currently hold any Capital Drilling Ltd.
shares and no further information in connection with his
appointment is required to be disclosed pursuant to LR 9.6.13R of
the Listing Rules of the UK Listing Authority. Mr Abery is
considered to be independent from appointment for the purposes of
the UK Corporate Governance Code and, following his appointment,
the Board will maintain a majority of independent directors in line
with the requirements of the UK Corporate Governance Code.
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
Dewald van Tonder, Chief Financial
Officer
finnCap Ltd
Christopher Raggett, Corporate
Finance
Emily Morris/Simon Johnson,
Corporate Broking +44 20 7220 0500
Tamesis Partners LLP
Charlie Bendon
Richard Greenfield +44 20 3882 2868
Buchanan +44 20 7466 5000
Bobby Morse capitaldrilling@buchanan.uk.com
Gemma Mostyn-Owen
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 93
drilling rigs with established operations in Botswana, 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
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