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Capital Drilling Ltd - 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                                                       +230 464 3250

Jamie Boyton, Executive Chairman                                   [email protected]

André Koekemoer, Chief Financial Officer

Rick Robson, Executive - Corporate Development

 

Berenberg                                                                             +44 20 3207 7800

Matthew Armitt

Jennifer Wyllie

Detlir Elezi            

 

Tamesis Partners LLP                                                          +44 20 3882 2868

Charlie Bendon

Richard Greenfield

 

Buchanan                                                                               +44 20 7466 5000

Bobby Morse                                                                        [email protected]

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.


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Market: LSE
Market Cap: £99.31 m
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