REG - Capital Limited - Long Term Incentive Grant
15/06/2022 16:45
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RNS Number : 0100P Capital Limited 15 June 2022
Capital Limited
("Capital", the "Group" or the "Company")
Long Term Incentive Grant
Capital (LSE: CAPD), a leading mining services company focused on the African
markets, today announces Long Term Incentive Plan awards ("LTIPs") as
referenced in Remuneration Report of the 2021 Annual Report to Executive
Directors Jamie Boyton and Brian Rudd, as well as other senior employees.
The LTIP was established to strengthen retention, incentivisation, support the
Company's next phase of growth and increase alignment between executives and
shareholders. A summary of the terms of the awards is set out on pages 73,
74 and 78 of the 2021 Annual Report. The Executive Directors have been granted
two separate performance awards each (LTIP1 and LTIP2) (totalling 1,319,634
awards), with a nominal exercise price of US$0.0001 and a three-year vesting
period. All awards to Executive Directors are subject to a two-year holding
period post vesting.
Name Role Max no. of Equity awards (LTIP1) Max no. of Equity awards (LTIP2) Exercise price (US$)
Jamie Boyton Executive Chairman 460,766 460,766 0.0001
Brian Rudd Executive Director 199,051 199,051 0.0001
A maximum total aggregate of 3,520,893 awards (comprising 2,212,035 LTIP1 and
1,308,858 LTIP2) have been granted to the Executive Directors and other senior
members of the Company. Within the total aggregate, PDMRs of the Company have
received a total of 1,710,884 awards (details of these PDMR awards are set out
at the foot of this announcement).
The awards will vest on the third anniversary of the date of grant, subject to
the meeting of the three-year performance conditions laid out below:
For LTIP1:
· Up to a maximum of 50% of the award is subject to absolute Total
Shareholder Return ("TSR") measured at the year ended 31 December 2024 against
the 20-day VWAP ending 31 December 2021. Shares will Vest on a straight-line
basis between 12.5% (if 8% CAGR is achieved) and 50% (if 15% CAGR is
achieved).
· Up to a maximum of 50% of the award is subject to an Earnings per
Share performance condition (EPS), measured at the year ended 31 December 2024
against the baseline 2021 EPS (based on performance of the underlying business
i.e. excluding returns from Capital DI, the direct investment vehicle of
Capital Limited). Shares will Vest on a straight-line basis between 12.5% (if
8% CAGR is achieved) and 50% (if 15% CAGR is achieved).
For LTIP 2:
· solely absolute TSR measured at the year ended 31 December 2024
against the 20-day VWAP ending 31 December 2021. Shares will vest on a
straight-line basis between 0% (if 15% CAGR is achieved) and 100% (if 25% CAGR
is achieved).
The awards are subject to continued employment and malus and clawback
provisions.
- ENDS -
For further information, please visit Capital Limited's website
www.capdrill.com or contact:
Capital Limited
+230 464 3250
Jamie Boyton, Executive Chairman
investor@capdrill.com
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
capital@buchanan.uk.com
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
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Jamie Boyton
2. Reason for the notification
a. Position/status Executive Chairman
b. Initial notification/Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Capital Limited
b. LEI 213800XG175G91JW8W37
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the Financial instrument, type of instrument Identification Common shares of $0.0001 each
code
BMG022411000
b. Nature of the transaction Grant of Options
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001 460,766
$0.0001 460,766
d. Aggregated information 921,532 at $0.0001
· Aggregated volume
· Price
e. Date of the transaction 15 June 2022
f. Place of the transaction Outside of trading venue
d.
Aggregated information
· Aggregated volume
· Price
921,532 at $0.0001
e.
Date of the transaction
15 June 2022
f.
Place of the transaction
Outside of trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Brian Rudd
2. Reason for the notification
a. Position/status Executive Director
b. Initial notification/Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Capital Limited
b. LEI 213800XG175G91JW8W37
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the Financial instrument, type of instrument Identification Common shares of $0.0001 each
code
BMG022411000
b. Nature of the transaction Grant of Options
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001p 199,051
$0.0001p 199,051
d. Aggregated information 398,102 at $0.0001
· Aggregated volume
· Price
e. Date of the transaction 15 June 2022
f. Place of the transaction Outside of trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Giles Everist
2. Reason for the notification
a. Position/status Chief Financial Officer
b. Initial notification/Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Capital Limited
b. LEI 213800XG175G91JW8W37
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the Financial instrument, type of instrument Identification Common shares of $0.0001 each
code
BMG022411000
b. Nature of the transaction Grant of Options
c. Price(s) and volume(s) Price(s) Volume(s)
$0.0001 195,625
$0.0001 195,625
d. Aggregated information 391,250 at $0.0001
· Aggregated volume
· Price
e. Date of the transaction 15 June 2022
f. Place of the transaction Outside of trading venue
d.
Aggregated information
· Aggregated volume
· Price
398,102 at $0.0001
e.
Date of the transaction
15 June 2022
f.
Place of the transaction
Outside of trading venue
1.
Details of the person discharging managerial responsibilities / person closely
associated
a.
Name
Giles Everist
2.
Reason for the notification
a.
Position/status
Chief Financial Officer
b.
Initial notification/Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a.
Name
Capital Limited
b.
LEI
213800XG175G91JW8W37
4.
Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a.
Description of the Financial instrument, type of instrument Identification
code
Common shares of $0.0001 each
BMG022411000
b.
Nature of the transaction
Grant of Options
c.
Price(s) and volume(s)
Price(s) Volume(s)
$0.0001 195,625
$0.0001 195,625
d.
Aggregated information
· Aggregated volume
· Price
391,250 at $0.0001
e.
Date of the transaction
15 June 2022
f.
Place of the transaction
Outside of trading venue
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