RNS!31 Jul 2018 17:03
31 July 2018
Savannah Resources Plc
Update on £1 million Subscription by Major Shareholder
PDMR Notification
Notification of Holdings
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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 £11.5 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 £1 million (the 'Subscription').