("Capital", the "Group" or the "Company")

Announcement of CFO Transition

Capital Limited (CAPD:LN) is announcing the appointment of Mr. Rick Robson as Chief Financial Officer ("CFO") following the departure of Mr. Giles Everist. Mr. Robson will replace Mr. Giles Everist with effect from 01 January 2023 and will work closely with Mr. Everist over the next two months to ensure an orderly transition. Mr. Robson is based in London and will report to Mr. Peter Stokes, Chief Executive Officer.

Mr. Robson has been a member of Capital's senior management team since 2019 and is currently Head of Corporate Development & CFO of MSALABS. Over the last three years, Mr. Robson has led all the equity and debt financings entered into by the Group and, as CFO of MSALABS, has played a key role in delivering the division's growth through its strategic relationship with Chrysos Corporation. 

Mr. Robson has over 20 years of experience across corporate finance, M&A advisory and operational finance. Mr. Robson is a Chartered Accountant having trained at Deloitte. Prior to joining Capital, Mr. Robson was the CFO of a project development company with several greenfield assets in Colombia where he developed and ran the finance function. He was also formerly an investment banker with Barclays where he was focused on the mining sector.

Commenting on the transition, Mr Jamie Boyton, Executive Chairman, said:

"We would like to thank Giles for his significant contribution to the business. He has been integral to the group since early 2021, which has seen Capital grow materially within and beyond the core drilling business. We wish him the best of success in his future endeavours.

We are pleased Rick has taken the role of CFO and are confident in a smooth transition given Rick's already extensive knowledge of the business."

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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

Peter Stokes, Chief Executive Officer                             

Giles Everist, 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

Berenberg                                                                             +44 20 3207 7800

Matthew Armitt

Jennifer Lee

Detlir Elezi            

Buchanan                                                                               +44 20 7466 5000

Bobby Morse                                                                        capital@buchanan.uk.com

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