Last checked at 1 Dec 2020 07:00
1 December 2020
Savannah Resources Plc
('Savannah' or the 'Company')
PDMR Notification of Director Dealings
Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV), the resource development company, announces it has received notification that David Archer, Savannah's CEO, has disposed of a total of 2.0 million ordinary shares of 1p each in the Company ("Ordinary Shares") (the "Transaction").
Following the Transaction David Archer holds 39,756,649 Ordinary Shares representing 2.78% of the Company's issued share capital and David's net cash investment in Savannah's issued share capital amounts to £1.12 million.
The rationale for the Transaction was because the CEO owns a hotel business in Europe that has suffered financially from the impact to tourism from COVID19 and has required funding. Mr Archer has indicated to the Board that he has no present intention to sell further Ordinary Shares.
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 | David Archer | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
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 | Sale of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
2,000,000 £0.0255 | ||||
e) | Dates of the transaction | 26 November 2020, 27 November 2020, and 30 November 2020 | ||||
f) | Place of the transaction | Off market transaction | ||||
**ENDS**
For further information please visit www.savannahresources.com or contact:
Savannah Resources PLC David Archer, CEO
| Tel: +44 20 7117 2489
|
SP Angel Corporate Finance LLP (Nominated Advisor) David Hignell / Charlie Bouverat
| Tel: +44 20 3470 0470
|
finnCap Ltd (Joint Broker) Christopher Raggett
| Tel: +44 20 7220 0500
|
WH Ireland Limited (Joint Broker) James Joyce/ Matt Chan (Corporate Finance) Adam Pollock/ Jasper Berry (Corporate Broking)
| Tel: +44 20 7220 1698
|
Camarco (Financial PR) Gordon Poole / Nick Hennis | Tel: +44 20 3757 4890 |
About Savannah
Savannah is a diversified resources group (AIM: SAV) with two development stage projects, a hardrock lithium project in Portugal which has the largest spodumene lithium resource in Europe, and 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".