TIDMCAPD
RNS Number : 4345E
Capital Limited
29 June 2023
Capital Limited
("Capital", the "Group" or the "Company")
Long Term Incentive Grant
Capital (LSE: CAPD), a leading mining services company, today
announces Long Term Incentive Plan awards ("LTIPs") as referenced
in Remuneration Report of the 2022 Annual Report to Executive
Directors Jamie Boyton, Peter Stokes and Brian Rudd, as well as
other senior employees.
The LTIP was established to strengthen retention,
incentivisation, support the Company's next phase of growth and
increase alignment between executives and shareholders. A summary
of the terms of the awards is set out on pages 91 and 98 of the
2022 Annual Report. The Executive Directors have been granted two
separate performance awards each (LTIP1 and LTIP2) (totalling
1,920,742 awards), with a nominal exercise price of US$0.0001 and a
three-year vesting period. All awards to Executive Directors are
subject to a two-year holding period post vesting.
Name Role Max no. Max no. Exercise price
of Equity of Equity (US$)
awards awards
(LTIP1) (LTIP2)
Jamie Boyton Executive Chairman 361,682 361,682 0.0001
-------------------- ----------- ----------- ---------------
Chief Executive
Peter Stokes Officer 414,870 414,870 0.0001
-------------------- ----------- ----------- ---------------
Brian Rudd Executive Director 183,819 183,819 0.0001
-------------------- ----------- ----------- ---------------
A maximum total aggregate of 4,163,031 awards (comprising
2,731,469 LTIP1 and 1,431,562 LTIP2) have been granted to the
Executive Directors and other senior members of the Company. Within
the total aggregate, PDMRs of the Company have received a total of
2,219,754 awards (details of these PDMR awards are set out at the
foot of this announcement).
The awards will vest on the third anniversary of the date of
grant, subject to the meeting of the three-year performance
conditions laid out below:
For LTIP1:
-- Up to a maximum of 50% of the award is subject to absolute
Total Shareholder Return ("TSR") measured at the year ended 31
December 2025 against the 20-day VWAP ending 31 December 2022.
Shares will Vest on a straight-line basis between 12.5% (if 8% CAGR
is achieved) and 50% (if 15% CAGR is achieved).
-- Up to a maximum of 50% of the award is subject to an Earnings
per Share performance condition (EPS), measured at the year ended
31 December 2025 against the baseline 2022 EPS (based on
performance of the underlying business i.e. excluding returns from
Capital DI, the direct investment vehicle of Capital Limited).
Shares will Vest on a straight-line basis between 12.5% (if 8% CAGR
is achieved) and 50% (if 15% CAGR is achieved).
For LTIP 2:
-- solely absolute TSR measured at the year ended 31 December
2025 against the 20-day VWAP ending 31 December 2022. Shares will
vest on a straight-line basis between 0% (if 15% CAGR is achieved)
and 100% (if 25% CAGR is achieved).
The awards are subject to continued employment and malus and
clawback provisions.
-S -
For further information, please visit Capital's website
www.capdrill.com or contact:
Capital Limited investor@capdrill.com
Peter Stokes, Chief Executive Officer
Rick Robson, Chief Financial Officer
Conor Rowley, Investor Relations & Corporate Development
Manager
Tamesis Partners LLP +44 20 3882 2868
Charlie Bendon
Richard Greenfield
Stifel Nicolaus Europe Limited +44 20 7710 7600
Ashton Clanfield
Callum Stewart
Rory Blundell
Buchanan +44 20 7466 5000
Bobby Morse capital@buchanan.uk.com
George Pope
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; maintenance; and geochemical analysis. The Group's
corporate headquarters are in the United Kingdom and it has
established operations in Côte d'Ivoire, Canada, Democratic
Republic of Congo, Egypt, Gabon, Guinea, Kenya, Mali, Mauritania,
Nigeria, Pakistan, Saudi Arabia and Tanzania.
Notification of transactions by PDMRs
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 Limited
---------------------------------- -------------------------------
b. LEI 213800XG175G91JW8W37
---------------------------------- -------------------------------
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 Common shares of $0.0001 each
Financial instrument, BMG022411000
type of instrument
Identification code
---------------------------------- -------------------------------
b. Nature of the transaction Grant of Options
---------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001 361,682
----------
$0.0001 361,682
----------
---------------------------------- -------------------------------
d. Aggregated information 723,364 at $0.0001
* Aggregated volume
* Price
---------------------------------- -------------------------------
e. Date of the transaction 29 June 2023
---------------------------------- -------------------------------
f. Place of the transaction Outside of trading venue
---------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Peter Stokes
---------------------------------- -------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a. Position/status Chief Executive 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 Limited
---------------------------------- -------------------------------
b. LEI 213800XG175G91JW8W37
---------------------------------- -------------------------------
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 Common shares of $0.0001 each
Financial instrument, BMG022411000
type of instrument
Identification code
---------------------------------- -------------------------------
b. Nature of the transaction Grant of Options
---------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001 414,870
----------
$0.0001 414,870
----------
---------------------------------- -------------------------------
d. Aggregated information 829,740 at $0.0001
* Aggregated volume
* Price
---------------------------------- -------------------------------
e. Date of the transaction 29 June 2023
---------------------------------- -------------------------------
f. Place of the transaction Outside of trading venue
---------------------------------- -------------------------------
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 Limited
---------------------------------- -------------------------------
b. LEI 213800XG175G91JW8W37
---------------------------------- -------------------------------
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 Common shares of $0.0001 each
Financial instrument,
type of instrument BMG022411000
Identification code
---------------------------------- -------------------------------
b. Nature of the transaction Grant of Options
---------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001p 183,819
----------
$0.0001p 183,819
----------
---------------------------------- -------------------------------
d. Aggregated information 367,638 at $0.0001
* Aggregated volume
* Price
---------------------------------- -------------------------------
e. Date of the transaction 29 June 2023
---------------------------------- -------------------------------
f. Place of the transaction Outside of trading venue
---------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Rick Robson
---------------------------------- -------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a. Position/status Chief Financial 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 Limited
---------------------------------- -------------------------------
b. LEI 213800XG175G91JW8W37
---------------------------------- -------------------------------
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 Common shares of $0.0001 each
Financial instrument, BMG022411000
type of instrument
Identification code
---------------------------------- -------------------------------
b. Nature of the transaction Grant of Options
---------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001 149,506
----------
$0.0001 149,506
----------
---------------------------------- -------------------------------
d. Aggregated information 299,012 at $0.0001
* Aggregated volume
* Price
---------------------------------- -------------------------------
e. Date of the transaction 29 June 2023
---------------------------------- -------------------------------
f. Place of the transaction Outside of trading venue
---------------------------------- -------------------------------
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END
DSHFLMITMTMTBRJ
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June 29, 2023 10:09 ET (14:09 GMT)
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