Last checked at 21 Nov 2023 07:00
21 November 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah,' or the 'Company')
Director and PDMR Dealings
Savannah, the resource development company focused on becoming Europe's most significant producer of spodumene lithium concentrate from its Barroso Lithium Project (the 'Project') in Portugal, has been informed that, on 17 November 2023 the Company Directors and Executives listed below made the following purchases of Ordinary Shares of £0.01 each in the Company ("Shares"):
· Mr Matthew King, Chairman, acquired a total of 166,667 Shares at a price of 2.444 pence per Share, totaling £4,073.34;
· Mr. Emanuel Proença, Chief Executive Officer, acquired a total of 200,000 Shares at an average price of 2.43835 pence per Share, totaling £4,876.70; and
· Mr James Leahy, Non-Executive Director, acquired a total of 210,000 Shares at a price of 2.428 pence per Share, totaling £5,098.80.
Following these acquisitions, the individuals listed above have total beneficial interests in Savannah's Shares, with voting rights, as follows:
· Mr King: 3,564,394, representing 0.19% of the Company's issued share capital;
· Mr Proença: 725,000, representing 0.04% of the Company's issued share capital; and
· Mr Leahy: 1,682,955, representing 0.09% of the Company's issued share capital.
Additionally, other members of Savannah's Portuguese and HQ Team acquired 545,269 Shares on the 17 November 2023 for an aggregate consideration of £13,160.
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: | 1. Matthew King 2. Emanuel Proença 3. James Leahy | ||||
2. | Reason for the notification | |||||
a) | Position/status: | 1. Chairman 2. CEO 3. Non-Executive 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 | ||||
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 transactions: | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | 2.1 / 2.2 / 2.3 200,000 2.43835 pence average | ||||
e) | Date of the transactions: | 1. 17 November 2023 2. 17 November 2023 3. 17 November 2023 | ||||
f) | Place of the transactions: | London Stock Exchange | ||||
Regulatory Information
This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
Savannah - Enabling Europe's energy transition.
**ENDS**
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For further information please visit www.savannahresources.com or contact:
Savannah Resources PLC Emanuel Proença, CEO
| Tel: +44 20 7117 2489
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SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) David Hignell/ Charlie Bouverat (Corporate Finance) Grant Barker/Abigail Wayne (Sales & Broking)
| Tel: +44 20 3470 0470
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SCP Resource Finance (Joint Broker) | Tel: +44 204 548 1765 |
Filipe Martins/Chris Tonkin |
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Camarco (Financial PR) Gordon Poole/ Emily Hall / Fergus Young | Tel: +44 20 3757 4980 |
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LPM (Portugal Media Relations) Herminio Santos/ Jorge Coelho | Tel: +351 218 508 110 |
About Savannah
Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project in northern Portugal, the largest spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project (the 'Project'), Savannah will help Portugal to play an important role in providing a long-term, locally sourced, lithium raw material supply for Europe's rapidly developing lithium battery value chain. After the Environmental Licence was granted in May 2023 and the Scoping Study confirmed the economic potential of the Project in June 2023, production is now targeted and on track to begin in 2026. At that stage, Savannah will start producing enough lithium for approximately half a million vehicle battery packs per year, equal to a significant portion of the European Commission's Critical Raw Material Act goal of a minimum 10% of European endogenous lithium production set for 2030. Savannah is focused on the responsible development and operation of the Barroso Lithium Project so that its impact on the environment is minimised and the socio-economic benefits that it can bring to all its stakeholders are maximised.
The Company is listed and regulated on the London Stock Exchange's Alternative Investment Market (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".