London-listed Capital chairperson Jamie Boyton and executive director Brian Rudd have sold, subject to completion, 5.3-million common shares in the company.
The placing shares represent about 2.7% of the company’s issued share capital.
The placing was conducted by way of an accelerated bookbuild offering to institutional investors. The company will not receive any proceeds from the placing. Settlement of the placing is expected to occur on a T+2 basis, on or around June 27.
Tamesis Partners acted as bookrunner in relation to the placing, which was conducted by way of an accelerated bookbuild.
Following completion of the placing, Boyton and Rudd will continue to be substantial shareholders in the company and will remain fully aligned with its success, the company said in a statement.
Capital is a mining services company providing a complete range of drilling, mining, maintenance and geochemical laboratory solutions to customers within the global minerals industry.
The company’s services include: exploration, delineation and production drilling; load and haul services; maintenance; and geochemical analysis.
The group’s corporate headquarters is in the UK and it has established operations in Côte d'Ivoire, Canada, the Democratic Republic of Congo, Egypt, Gabon, Guinea, Kenya, Mali, Mauritania, Nigeria, Pakistan, Saudi Arabia and Tanzania.