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 awarded 1,245,761 shares to employees pursuant to the terms of the Company's Short Term Incentive Plan ("STIP") and 1,559,972 shares to employees pursuant to the Company's Long Term Incentive Plan ("LTIP"). All shares held in treasury have been used first in connection with issuing these awards, with the remaining awards being new shares issued. New common shares issued will rank pari passu with the Company's existing shares.

STIP

Pursuant to the terms of the Company's Short Term Incentive Plan, of the 1,245,761 shares awarded, Directors of the Company received 403,544 shares and other PDMRs of the Company have received a total of 107,425 shares:

1.     280,239 common shares awarded to Jamie Phillip Boyton, Executive Chairman of the Company, at a price of £0.916 per share. This represents a previously approved award with a share price value date of 10 March 2022; and

2.     123,305 common shares awarded to Brian Rudd, Executive Director of the Company, at a price of £0.916 per share. This represents a previously approved award with a share price value date of 10 March 2022.

LTIP

Following the vesting of the LTIPs awarded in 2020, in accordance with the LTIP's terms, the Company received notices of exercise from all but one of the option holders. Performance conditions attaching to the awards pursuant to the LTIP for the three years ended 31 December 2022, details of which are set out in the Company's annual report, have been met in full.

Pursuant to the terms of the Company's 2020 LTIP, of the 1,559,972 shares awarded, Directors of the Company received 761,335 shares and other PDMRs of the Company have received a total of 219,616 shares:

1.     509,254 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 LTIP; and

2.     252,081 common shares awarded to Brian Rudd, Executive Director of the Company, at an exercise price of $0.0001 per share under the Group's LTIP.

All of the 1,973,551 shares held in treasury have been utilised, in addition to issuing 832,182 new shares. Application has been made to the London Stock Exchange and admission of the new shares is expected on or around 4 April 2023, following which; the Company's issued share capital will comprise 193,696,920 common shares of $0.0001 each. 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.

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

Capital Limited                                                                     [email protected]

Jamie Boyton, Executive Chairman                                  

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                                                                        [email protected]

George Cleary

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 London and it has established operations in Canada, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali, Mauritania, Nigeria, Saudi Arabia, Sudan and Tanzania.

Notification of transactions by PDMRs