You'll be fine. The only issue that might arise is that if you cut a large piece off the cap, the remaining strip might become loose. In the worst case, this falls off and your cigar begins to unravel. I'd say that would be pretty unusual.
Wilkey
even if this were to happen, I'd think you'd be able to get an adhesive (made specifically for cigars that unravel) and glue that bad boy back together. I've purchased a smallish bottle of something called Cigar medic, or some such thing. There's a thread some time ago that spoke of some methylcellulose (or some such thing) that can be found in the cooking/baking aisle of a local food market/established supermarket chain.
Just my half centavo,
Darren