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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Savannah Resources Plc | LSE:SAV | London | Ordinary Share | GB00B647W791 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.15 | -4.35% | 3.30 | 3.30 | 3.60 | 3.45 | 3.45 | 3.45 | 1,700,830 | 16:35:28 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 0 | -2.86M | -0.0016 | -21.56 | 63.07M |
From May 2019 to May 2024
TIDMSAV
RNS Number : 3645W
Savannah Resources PLC
31 July 2018
31 July 2018
Savannah Resources Plc
Update on GBP1 million Subscription by Major Shareholder
PDMR Notification
Notification of Holdings
Savannah Resources plc (AIM: SAV and SWB: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, announces that further to the recent placing to raise GBP11.5 million (before expenses), as announced on 5 July 2018 (the 'Placing'), Al Marjan Ltd ('Al Marjan'), the Company's major shareholder, has now subscribed for 11,111,111 new ordinary shares of 1p each in the Company ( 'Ordinary Shares') at a price of 9p per Ordinary Share (the 'Subscription Shares'), raising cash proceeds of GBP1 million (the 'Subscription').
Details of the Subscription
-- Al Marjan holding to be at 24.18% following the Subscription
-- As previously announced, the proceeds of the Subscription, when aggregated with the net Placing proceeds the Company has already received, will be predominantly used to support the next stage of development for Savannah's Mina do Barroso Lithium Project located in northern Portugal, providing funding to decision to mine.
-- Additionally, the funds will be used to progress the Company's projects in Mozambique and Oman, which are currently undergoing mining lease applications, and for working capital purposes generally.
Related Party Transaction
Al Marjan is a substantial shareholder in the Company (the 'Related Party'). The Subscription by the Related Party constitutes a related party transaction in accordance with AIM Rule 13. Matthew King, David Archer and Dale Ferguson, who are not subscribing for Subscription Shares and are therefore independent Directors for these purposes, having consulted with the Company's Nominated Adviser, consider the Subscription by the Related Party to be fair and reasonable insofar as Savannah's shareholders are concerned.
Voting Rights and Regulatory Information
Application will be made for the 11,111,111 Subscription Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings will commence at 8:00am on or around 6 August 2018.
Following Admission of the Subscription Shares, the Company's total issued share capital will consist of 861,316,795 Ordinary Shares. As such the total number of voting rights in the Company will be 861,316,795 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
PDMR Notification
Further, and in a separate transaction to the subscription referred to above, the Company advises of the sale of Ordinary Shares by a PDMR as set out below:
Hot Features
Premium
PDMR Number of Ordinary Shares Sold Price Per Ordinary Share and Percentage of Ordinary Shares
Quantity Following Admission
David Archer 1,000,000 9.32p - 250,000 4.85%
9.1p - 750,000
The notifications below, 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.
For further information please visit www.savannahresources.com or contact:
David Archer Savannah Resources Tel: +44 20 7117
plc 2489
David Hignell / Dugald J. Northland Capital Tel: +44 20 3861
Carlean (Nominated Adviser) Partners Ltd 6625
Christopher Raggett / Abigail finnCap Ltd Tel: +44 20 7220
Wayne (Broker) 0500
Grant Barker (Equity Adviser) Whitman Howard Tel: +44 020 7659
1225
Charlotte Page / Lottie St Brides Partners Tel: +44 20 7236
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"
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 David Archer
--------------------------- ------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------- ------------------------------------
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
--------------------------- ------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP0.0932 250,000
GBP0.091 750,000
--------------------------- ------------------------------------
Aggregated information
Aggregated volume 1,000,000
d) Price 0.092
--------------------------- ------------------------------------
e) Date of the 26 July 2018
transaction(s)
27 July 2018
-------------------------------- ------------------------------------
f) Place of the London Stock Exchange - AIM
transaction
--------------------------- ------------------------------------
Notification of Substantial Shareholding
1a. Identity of the issuer or the Savannah Resources Plc
underlying issuer of existing shares
to which voting rights are attached(ii)
:
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
------------------
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights X
------------------
An acquisition or disposal of financial instruments
------------------
An event changing the breakdown of voting rights
------------------
Other (please specify)(iii) :
------------------
3. Details of person subject to the notification obligation(iv)
Name David Stuart Archer
City and country of registered office
(if applicable)
4. Full name of shareholder(s) (if different from 3)
Name
---------------------------------------------------------
City and country of registered office
(if applicable)
---------------------------------------------------------
5. Date on which the threshold was 27/07/2018
crossed or reached(vi) :
---------------------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 30/07/2018
---------------------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) of issuer(vii)
of 8. A) (total of 8.B
1 + 8.B 2)
----------------------- ------------------- ---------------- ------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 4.85 1.14 5.99 861,316,795
----------------------- ------------------- ---------------- ------------------
Position of
previous notification
(if
applicable) 5.03 1.16 6.19
----------------------- ------------------- ---------------- ------------------
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached(viii)
A: Voting rights attached to shares
Class/type Number of voting rights(ix) % of voting rights
of
shares
ISIN code
(if possible)
Direct Indirect Direct Indirect
(Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive
2004/109/EC) 2004/109/EC) 2004/109/EC) 2004/109/EC)
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
-------------------------------
GB00B647W791 41,756,649 4.85
-------------------- ------------------------------- --------------------- ---------------------
SUBTOTAL
8. A 41,756,649 4.85
----------------------------------------------------- --------------------------------------------
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
(DTR5.3.1.1 (a))
Type of Expiration Exercise/ Number of voting % of voting rights
financial date(x) Conversion Period(xi) rights that may
instrument be acquired if
the instrument
is
exercised/converted.
-------------------- ------------------------------- --------------------- ---------------------
Warrants
over Ordinary
Shares
with a At any time prior
6p exercise to the expiration
price 14/07/2020 date 2,857,143 0.33%
-------------------- ------------------------------- --------------------- ---------------------
Options
over Ordinary
Shares
with a
7.59p At any time prior
exercise to the expiration
price 28/02/2021 date 7,000,000 0.81%
-------------------- ------------------------------- --------------------- ---------------------
SUBTOTAL 8. B 1 9,857,143 1.14%
------------------------------- --------------------- ---------------------
B 2: Financial Instruments with similar economic effect according to
Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type Expiration Exercise/ Physical or Number of % of voting rights
of financial date(x) Conversion cash voting rights
instrument Period (xi) settlement(xii)
--------------------- ------------- ---------------- ---------------------
SUBTOTAL 8.B.2
---------------- ---------------------
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled X
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer(xiii)
Full chain of controlled undertakings through which the voting rights
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity(xiv) (please add additional
rows as necessary)
Name(xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
-------------------------------- ------------------------- ------------------------
10. In case of proxy voting, please identify:
Name of the proxy holder
---------------------------------------------------
The number and % of voting rights
held
---------------------------------------------------
The date until which the voting rights
will be held
---------------------------------------------------
11. Additional information(xvi)
Place of completion 31 July 2018
Date of completion London
-------------
**ENDS**
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCBSGDRGUXBGIB
(END) Dow Jones Newswires
July 31, 2018 11:00 ET (15:00 GMT)
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