Senior Management Update

RNS Number : 4389B

Capital Drilling Limited

17 April 2012

 



For Immediate Release

17 April 2012

Capital Drilling Limited

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

Senior Management Update

Capital Drilling (LSE: CAPD), the emerging and developing markets focused drilling Company, is pleased to announce the appointment of Mr Uno Makotsvana to Chief Financial Officer ("CFO") of the Group. Mr David Payne, currently Group CFO and Company Secretary, will assume the role of Chief Commercial Officer and Company Secretary with effect from 16 April 2012.

Mr Makotsvana, ACCA, was previously Chief Financial Officer of Nepean Group, an Australian, privately held engineering, mining services and industrial manufacturing organisation with turnover of approximately AUD500 million. Prior to this, Mr Makotsvana was Finance Director at Minova Australia, a wholly owned subsidiary of Orica Ltd, an AUD9.9 billion market capitalised company and one of the largest mining services companies globally. He has over 14 years of mining services experience and has been involved in a number of corporate transactions including debt fundraisings, legal restructuring and setting up new international trading divisions.  He is also a qualified accountant with over 8 years of experience at Deloitte.

Mr Payne will remain as Company Secretary and in addition take on the role of Chief Commercial Officer, where he will oversee contracts and tenders from existing and new customers in the Company's emerging markets. This is an exciting time for the Company and these changes will allow Capital Drilling to continue to advance its future growth strategies.

Commenting on the appointment, Mr Geoff Fardell, Chief Executive Officer, said:

"The appointment of Mr Makotsvana to the role of Chief Financial Officer is a natural progression for a Company of our size and complexity and we welcome him to the role of Chief Financial Officer. He has an outstanding track record of performance within high growth companies and we look forward to working with him in taking Capital Drilling onto its next phase of expansion. 

I would like to thank David for his achievements as Chief Financial Officer since the Company's inception and look forward to his continued involvement as Chief Commercial Officer and Company Secretary.  We are delighted that we will continue to benefit from his experience and skills."

For further information please access Capital Drilling's website www.capdrill.com or contact:

Capital Drilling Limited                                                                               [phone]

Jamie Boyton, Executive Chairman                      

Geoff Fardell, CEO

Liberum Capital Limited                                                                            [phone]

Clayton Bush                                                    

Richard Bootle

Canaccord Genuity                                                                                      [phone]

Andrew Chubb                                                                                            

Bhavesh Patel

Buchanan                                                                                                      [phone]

Bobby Morse                                                    

Gabriella Clinkard

Cornelia Browne

About Capital Drilling

Capital Drilling, which has a Premium Listing on the Main Market of the London Stock Exchange, provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 85 drilling rigs with established operations in Tanzania, Zambia, Egypt, Mauritania, Mozambique, Papua New Guinea, Ethiopia, Ghana and Chile. The Group's corporate headquarters is in Singapore and it has its administrative offices for South America in Santiago.

 

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