Capital Limited proposed placing of existing ordinary shares

Capital limited

Capital Limited (LON:CAPD), a leading mining services company focused on the African markets, has announced that Brian Rudd, a founder and Executive Director of Capital Limited, has indicated his intention to sell approximately 3,000,000 ordinary shares in the Company. The Placing Shares represent approximately 1.6% of the Company’s issued share capital. The Placing is to be conducted by way of an accelerated bookbuild offering to institutional investors. The Company will not receive any proceeds from the Placing.

Following completion of the Placing, Brian Rudd will continue to be a substantial shareholder in the Capital Limited and will remain fully aligned with its success.

Joh. Berenberg, Gossler & Co. KG, London Branch and Tamesis Partners LLP are acting as Joint Bookrunners in relation to the Placing. Bookbuilding will commence immediately and the right is reserved to close the books at any time. The sale price of the shares and the final size of the Placing will be determined after the books have closed. A further announcement will be made following completion of the bookbuild and pricing of the Placing.

The ordinary shares held by the Seller following completion of the Placing will be subject to a 90 calendar day lock-up which is subject to certain exceptions and may otherwise only be waived with the consent of the Joint Bookrunners.

You might also enjoy reading  Capital appoints Ms Cassie Boggs as an Independent Non-Executive Director
Find more news, interviews, share price & company profile here for:
Capital Drilling Ltd

Good news travels fast (but only if you make that happen):

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email
Share on reddit
Reddit
Find more news, interviews, share price & company profile here for:
Capital Drilling Ltd

AIM All Share Index