RNS Number : 0914J
Capital Limited
26 November 2025
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
BMG022411000
Issuer Name
CAPITAL LIMITED
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Aegis Financial Corporation
City of registered office (if applicable)
McLean
Country of registered office (if applicable)
United States of America
Name
City of registered office
Country of registered office
Scott L. Barbee
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
21-Nov-2025
6. Date on which Issuer notified
24-Nov-2025
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
10.310000
0.000000
10.310000
22313531
Position of previous notification (if applicable)
5.170000
0.000000
5.170000
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
BMG022411000
22313531
10.310000
Sub Total 8.A
22313531
10.310000%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
Scott L. Barbee
10.310000
0.000000
10.310000%
Scott L. Barbee
Aegis Financial Corporation
10.310000
0.000000
10.310000%
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
Aegis Financial Corporation ("AFC") is a US-based investment management company that manages the Aegis Value Fund, a series of The Aegis Funds, as well as other separately managed accounts. Scott Barbee is the control owner of AFC. The indirect shares reported in this filing are controlled by Scott Barbee in his capacity as the discretionary portfolio manager for AFC and the Aegis Value Fund. As of the date the threshold was reached or crossed, the Aegis Value Fund held 21,410,872 shares or 9.89%, of the issuer.
12. Date of Completion
24-Nov-2025
13. Place Of Completion
USA
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