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Savannah Resources - Exercise of Options and PDMR Notification

RNS Number : 7270Y
Savannah Resources PLC
03 January 2020
 

     

3 January 2020

Savannah Resources Plc

 

Exercise of Options and PDMR Notification

 

Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the 'Company'), the AIM quoted resource development company announces that it has issued 1,500,000 ordinary shares in the Company of par value £0.01 ('Ordinary Shares') following the exercise of options ('Options') over Ordinary Shares as summarised below.

 

The Options have been exercised by Matthew King, the Company's Chairman, who is considered to be a person discharging managerial responsibilities for the purpose of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014).

 

Mr. King has exercised Options over 1,500,000 Ordinary Shares at £0.0276 each, totalling £41,400 cash. Following the exercise of these Options Mr King will be the beneficial holder of 2,604,028 Ordinary Shares in the Company, representing 0.2% of the Company's issued share capital with voting rights.

 

Admission and Total Voting Rights

 

Pursuant to the exercise of the Options, application will be made for 1,500,000 new Ordinary Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to AIM ('Admission'). It is expected that Admission will become effective and dealings will commence at 8:00am on or around 9 January 2020.

 

Following Admission, the total issued share capital of the Company will consist of 1,298,959,820 Ordinary Shares. As such, the total number of voting rights in the Company will be 1,298,959,820 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, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

Regulatory Information

 

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

 

 

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

Matthew King

2

Reason for the notification

a)

Position/status

Chairman

b)

 

Initial notification /Amendment

Initial notification

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 of the financial instrument, type of instrument

Identification code

Ordinary Shares of £0.01 each

 

 

ISIN: GB00B647W791

b)

Nature of the transaction

Exercise of warrants

c)

Price(s) and volume(s)

No. of options exercised

Exercise price

1,500,000

£0.0276

 

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

3 January 2020

f)

Place of the transaction

Issuer allotment

 

**ENDS**

 

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

 

David Archer

Savannah Resources plc

Tel: +44 20 7117 2489

David Hignell / Charlie

Bouverat (Nominated Adviser)

SP Angel Corporate Finance LLP

Tel: +44 20 3470 0470

Christopher Raggett (Joint Broker)

finnCap Ltd

Tel: +44 20 7220 0500

Grant Barker (Joint Broker)

Whitman Howard

Tel: +44 20 7659 1225

Charlotte Page / Cosima

Akerman (Financial PR)

St Brides Partners Ltd

Tel: +44 20 7236 1177

 

About Savannah

Savannah is 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. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of the communities we work with and our staff.

 

The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".


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 [email protected] or visit www.rns.com.
 
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Quick facts: Savannah Resources PLC

Price: 2.175

Market: AIM
Market Cap: £28.25 m
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