19 July 2018
Savannah Resources Plc
Exercise of Options and Warrants and PDMR Notification
Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company'), the AIM quoted resource development company announces that it has issued 19,382,888 ordinary shares in the Company of par value £0.01 ('Ordinary Shares') following the exercise of options ('Options') and warrants ('Warrants') over Ordinary Shares as summarised below.
The majority of the Options and Warrants have been exercised by David Archer, Dale Ferguson, and Michael McGarty who are considered to be persons discharging managerial responsibilities for the purpose of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014).
Mr. Archer has exercised Warrants over 11,111,112 Ordinary Shares at £0.03 each. Mr. Ferguson has exercised Options over 5,321,776 Ordinary Shares at £0.03 each. Mr. McGarty has exercised Options over 1,200,000 Ordinary Shares at £0.0462 each and Options over 1,500,000 Ordinary Shares at £0.03 each.
Admission and Total Voting Rights
Pursuant to the exercise of the Options and Warrants, application will be made for 19,382,888 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 24 July 2018.
Following the exercise, the percentage holding of Messrs. Archer, Ferguson, and McGarty will increase as per the table below:
|
Director/PDMR |
Ordinary Shares issued pursuant to Option/Warrant Exercise |
Beneficial Holding Following Admission |
Percentage of Ordinary Shares Following Admission |
|
David Archer |
11,111,112 |
42,756,649 |
5.03% |
|
Dale Ferguson |
5,321,776 |
13,837,854 |
1.63% |
|
Michael McGarty |
2,700,000 |
2,795,238 |
0.33% |
Following Admission, the total issued share capital of the Company will consist of 850,205,684 Ordinary Shares. As such, the total number of voting rights in the Company will be 850,205,684 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.
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 |
David Archer
|
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Chief Executive Officer
|
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|
b)
|
Initial notification /Amendment |
Initial notification |
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|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Savannah Resources Plc |
||||
|
b) |
LEI |
213800UCK16HW5KKGP60 |
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|
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 |
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|
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
|
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|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
19 July 2018 |
||||
|
f) |
Place of the transaction |
Issuer allotment |
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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
|
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Technical Director
|
||||
|
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 |
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|
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) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
19 July 2018 |
||||
|
f) |
Place of the transaction |
Issuer allotment |
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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 |
Michael McGarty
|
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Chief Financial Officer
|
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|
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) |
|
||||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||||
|
e) |
Date of the transaction |
19 July 2018 |
||||||
|
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 / Dugald J. Carlean (Nominated Adviser) |
Northland Capital Partners Ltd |
Tel: 44 20 3861 6625 |
|
Christopher Raggett / Camille Gochez (Broker) |
finnCap Ltd |
Tel: 44 20 7220 0500 |
|
Grant Barker (Equity Adviser) |
Whitman Howard |
Tel: 44 020 7659 1225 |
|
Charlotte Page / Lottie Wadham (Financial PR) |
St Brides Partners Ltd |
Tel: 44 20 7236 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".
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.