Master Drilling to provide $70m in subsidiary guarantees

Master Drilling Group Limited (MDI) has disclosed its decision to provide financial assistance to its subsidiaries. The board of directors has authorized the company to grant various bank guarantees totaling up to $70,000,000. This financial support will be extended to its subsidiaries as and when required, following a special resolution previously passed by shareholders.

The board has confirmed its satisfaction that, immediately after providing this financial assistance, Master Drilling will continue to meet the solvency and liquidity tests as stipulated in section 4 of the Companies Act, 71 of 2008. Furthermore, the board deems the terms of this financial assistance to be fair, reasonable, and in the best interest of the company.

The announcement was made from Fochville on December 24, 2025. Investec Bank Limited is the sponsor for Master Drilling Group Limited.