Capital Limited

("Capital", the "Group" or the "Company")

Issue of Equity, Director / PDMR shareholding and Total Voting Rights

Capital (LSE: CAPD), a leading mining services company focused on the African markets, today announces that it has issued 2,143,105 new common shares to employees pursuant to the terms of the Company's Long Term Incentive Plan awarded in 2019 ("LTIP"). Following the vesting of these awards under the LTIP, the Company received notices of exercise from all option holders. The new common shares issued as a result of this exercise will rank pari passu with the Company's existing common shares.

Performance conditions attaching to the awards pursuant to the LTIP for the three years ended 31 December 2021, details of which are set out in the Company's annual reports, have been met in full.

Pursuant to the terms of the Company's 2019 Long Term Incentive Plan, of the 2,143,105 shares issued, Directors of the Company received 1,191,832 shares and other PDMRs of the Company have received a total of 951,273 shares:

1.     797,212 new common shares awarded to Jamie Phillip Boyton, Executive Chairman of the Company, at an exercise price of $0.0001 per share under the Group's Long Term Incentive Plan; and

2.     394,620 new common shares awarded to Brian Rudd, Executive Director of the Company, at an exercise price of $0.0001p per share under the Group's Long Term Incentive Plan.

Application has been made to the London Stock Exchange and admission of the shares is expected on or around 7 April 2022, following which the Company's issued share capital will comprise 192,864,738 common shares of $0.0001 each, of which 1,973,551 common shares are held in treasury. Therefore, the total voting rights in the Company will be 190,891,187.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

The shares purchased in Capital's share buyback programme, which completed on 24 February 2022, are currently held in treasury. These shares will be cancelled in due course. 

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For further information, please visit Capital Limited's website www.capdrill.com or contact:

Capital Limited                                                                     +230 464 3250

Jamie Boyton, Executive Chairman                                   [email protected]

Giles Everist, Chief Financial Officer

Conor Rowley, Investor Relations & Corporate Development Manager

Berenberg                                                                             +44 20 3207 7800

Matthew Armitt

Jennifer Lee

Detlir Elezi            

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                                                                        [email protected]

James Husband

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; mining equipment hire and maintenance; and geochemical analysis. The Group's corporate headquarters are in Mauritius and it has established operations in Burkina Faso, Côte d'Ivoire, Egypt, Guinea, Mali, Mauritania, Nigeria, Saudi Arabia and Tanzania.

Notification of transactions by PDMRs