Capital Ltd (LON:CAPD), a leading mining services company focused on the African markets, has announced the completion of its share buyback programme, which was announced on 4 January 2022. During the Buyback Programme, the company purchased 1,974,551 shares at a total cost of approximately $2.5 million.
The Buyback Programme was undertaken to reduce Capital’s share capital and meet obligations arising from share option initiatives.
The Buyback Programme was managed by Stifel Nicolaus Europe Limited (“Stifel”), following a buyback agreement entered on 31 December 2021.
Furthermore, Capital will announce its Full Year 2021 results on 10 March 2022, alongside the Group’s guidance for 2022 and Capital’s recommended final dividend payment.
Commenting on the Buyback Programme and the forthcoming FY21 results, Jamie Boyton, Executive Chairman, said:
“Capital remains focused on growth and shareholder returns, and this Buyback Programme reflects the Company’s balanced capital allocation approach as well as the Board’s significant confidence in the business and its ongoing development strategy. As we look to 2022, we will be releasing our outlook for 2022 alongside our FY21 results on the 10 March 2022.”
