Savannah Resources PLC Grant of Warrants and PDMR Notification (6582X)

TIDMSAV

RNS Number : 6582X

Savannah Resources PLC

13 August 2018

13 August 2018

Savannah Resources Plc

Grant of Warrants

PDMR Notification

Savannah Resources plc (AIM: SAV and SWB: SAV) ('Savannah' or the 'Company), the AIM quoted resource development company, announces that it has granted 343,432 warrants (the 'Warrants') over ordinary shares of par value GBP0.01 in the Company ('Ordinary Shares') to a financial advisor of the Company as payment for services rendered in connection with Savannah's recent fundraise announced on 5 July 2018. The Warrants have an exercise price of 11.25p and an exercise period limit of three years, vesting immediately. The exercise price represents a premium of 25% to the placing price as per the Company's 5 July 2018 announcement.

Further, the Company advises of the sale of Ordinary Shares by a PDMR as set out below:

 
PDMR            Number of Ordinary Shares Sold  Price Per Ordinary Share  Percentage Beneficial Holding in the Company 
Dale Ferguson   2,000,000                       8.5p                      1.37% 
 

The sale of these Ordinary Shares, in an off-market transaction, effectively covers the purchase price of the share options that were previously exercised by Mr. Ferguson with the balance being retained as shares in the Company.

The notifications in appendix 1, made in accordance with the requirements of the EU Market Abuse Regulation (Regulation (EU) 596/2014), provides further detail.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

*ENDS*

For further information please visit www.savannahresources.com or contact:

 
David Archer                   Savannah Resources  Tel: [phone] 
                                plc                 2489 
David Hignell / Dugald J.      Northland Capital   Tel: [phone] 
 Carlean (Nominated Adviser)    Partners Ltd        6625 
Christopher Raggett / Camille  finnCap Ltd         Tel: [phone] 
 Gochez (Broker)                                    0500 
Grant Barker (Equity Adviser)  Whitman Howard      Tel: [phone] 
                                                    1225 
Charlotte Page / Lottie        St Brides Partners  Tel: [phone] 
 Wadham (Financial PR)          Ltd                 1177 
 

About Savannah

We are a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. We are committed to serving the interests of our shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.

The group is listed and regulated on AIM and the Company's ordinary shares are also available on the Börse Stuttgart (SWB) under the ticker "SAV".

Appendix 1

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                      Dale Ferguson 
      ------------------------  ---------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status           Technical Director 
      ------------------------  ---------------------------------------------- 
 b)    Initial notification      Initial notification 
        /Amendment 
      ------------------------  ---------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                      Savannah Resources Plc 
      ------------------------  ---------------------------------------------- 
 b)    LEI                       213800UCK16HW5KKGP60 
      ------------------------  ---------------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------ 
 a)    Description               Ordinary Shares of GBP0.01 each 
        of the financial 
        instrument,               ISIN: GB00B647W791 
        type of instrument 
        Identification 
        code 
      ------------------------  ---------------------------------------------- 
 b)    Nature of the             Disposal of Shares 
        transaction 
                                  The sale of these shares effectively covers 
                                  the purchase price of the share options that 
                                  were previously exercised by Mr. Ferguson 
                                  with the balance being retained as shares 
                                  in the Company. 
      ------------------------  ---------------------------------------------- 
 c)    Price(s) and              Price(s)   Volume(s) 
        volume(s)                 GBP0.085   2,000,000 
      ------------------------  ---------------------------------------------- 
 
       Aggregated information 
 
        Aggregated volume          2,000,000 
 
 d)     Price                      0.085 
      ------------------------  ---------------------------------------------- 
 e)    Date of the               8 August 2018 
        transaction(s) 
                                  9 August 2018 
 -----------------------------  ---------------------------------------------- 
 f)    Place of the              Off-market transaction 
        transaction 
      ------------------------  ---------------------------------------------- 
 

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END

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August 13, 2018 11:36 ET (15:36 GMT)