Last checked at 13 Aug 2018 16:36
13 August 2018
Savannah Resources Plc
Grant of Warrants
PDMR Notification
Savannah Resources plc (AIM: SAV and SWB: SAV) ('Savannah' or the 'Company), the AIM quoted resource development company, announces that it has granted 343,432 warrants (the 'Warrants') over ordinary shares of par value £0.01 in the Company ('Ordinary Shares') to a financial advisor of the Company as payment for services rendered in connection with Savannah's recent fundraise announced on 5 July 2018. The Warrants have an exercise price of 11.25p and an exercise period limit of three years, vesting immediately. The exercise price represents a premium of 25% to the placing price as per the Company's 5 July 2018 announcement.
Further, the Company advises of the sale of Ordinary Shares by a PDMR as set out below:
PDMR | Number of Ordinary Shares Sold | Price Per Ordinary Share | Percentage Beneficial Holding in the Company |
Dale Ferguson | 2,000,000 | 8.5p | 1.37% |
The sale of these Ordinary Shares, in an off-market transaction, effectively covers the purchase price of the share options that were previously exercised by Mr. Ferguson with the balance being retained as shares in the Company.
The notifications in appendix 1, 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.
*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".
Appendix 1
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 | ||||
2 | Reason for the notification | |||||
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 | ||||
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 | Disposal of Shares
The sale of these shares effectively covers the purchase price of the share options that were previously exercised by Mr. Ferguson with the balance being retained as shares in the Company.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume
Price |
2,000,000
0.085
| ||||
e) | Date of the transaction(s) | 8 August 2018 9 August 2018 | ||||
f) | Place of the transaction | Off-market transaction | ||||