16th Oct 2019 11:56
(Alliance News) - Broker Peel Hunt LLP said Wednesday that Capital Drilling Ltd founder Craig Burton has sold around GBP2.8 million in shares in the company.
Burton stepped down as a non-executive director at the company in the summer of 2018.
Through a bookbuild run by Peel Hunt and Tamesis Partners LLP, Burton sold 4.7 million shares at a price of 60 pence per share. The shares sold represents 3.4% of Capital Drilling's entire issued share capital.
Shares in the mining services provider were down 3.2% at 61.00 pence each in London on Wednesday morning.
Capital Drilling will not receive any proceeds from the placing.
Following the sale, Burton now holds 6.1 million shares in total, which are subject to a six months lock-up.
By Dayo Laniyan; [email protected]
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