17 Apr 2020 07:00
17 April 2020
Savannah Petroleum PLC
("Savannah" or "the Company")
Change of name to Savannah Energy PLC
Savannah Petroleum PLC, the British independent energy company focused around activities in Nigeria and Niger, announces that it is changing its name to Savannah Energy PLC.
The change of name reflects the Company's increasingly diversified asset portfolio. Savannah is now a leading energy producer in Nigeria and, via its controlling interest in the Accugas midstream business, the Company currently provides gas to power stations accounting for over 10% of Nigeria's power generation capacity and operates one of the largest privately-owned gas transportation and distribution systems in sub-Saharan Africa. In Niger, Savannah is focused on developing its flagship assets in the prolific Agadem Rift Basin, with plans to deliver first oil in the near term.
Trading in the Company's shares on AIM will commence under the new name Savannah Energy PLC and the Company's ticker will change to 'SAVE' with effect from 8am Monday 20 April 2020. The Company's ISIN and SEDOL will remain unchanged.
The website address, at which the information required pursuant to AIM Rule 26 is available, will be https://www.savannah-energy.com once the name change has taken effect.
Shareholders should note that shareholdings will be unaffected by the change of name.
Andrew Knott, CEO of Savannah Energy, said:
"The name change to Savannah Energy is reflective of the asset portfolio and business model development that we have seen over the course of recent years. Savannah is now a major supplier of gas for domestic power projects in Nigeria and we expect to be able to strongly grow this business over the course of the coming years in a similar manner to our plans for our business in Niger."
For further information contact:
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Savannah Energy | +44 (0) 20 3817 9844 |
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Andrew Knott, CEO |
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Isatou Semega-Janneh, CFO Sally Marshak, Communications |
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Strand Hanson (Nominated Adviser) |
+44 (0) 20 7409 3494 |
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Rory Murphy |
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James Spinney |
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Ritchie Balmer |
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Mirabaud (Joint Broker) | +44 (0) 20 7878 3362 |
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Peter Krens |
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Ed Haig-Thomas |
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Numis Securities (Joint Broker) | +44 (0) 20 7260 1000 |
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John Prior |
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Emily Morris |
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Alamgir Ahmed |
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Jefferies International Limited (Joint Broker) | +44 (0) 20 7029 8000 |
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Tony White |
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Will Soutar |
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Celicourt Communications | +44 (0) 20 8434 2754 |
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Mark Antelme |
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Jimmy Lea Ollie Mills |
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The information contained within this announcement is considered to be inside information prior to its
release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.