Results of Annual General Meeting

RNS Number : 8439P

Capital Drilling Limited

12 June 2020

 

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   [phone]

Jamie Boyton, Executive Chairman    [e-mail]

André Koekemoer, Chief Financial Officer

Rick Robson, Executive - Corporate Development

Berenberg    [phone]

Matthew Armitt

Jennifer Wyllie

Detlir Elezi  

Tamesis Partners LLP     [phone]

Charlie Bendon

Richard Greenfield

Buchanan   [phone]

Bobby Morse    [e-mail]

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.

 

END

 

 

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