11 Jan 2016 07:30
11 January 2016
Savannah Petroleum PLC
("Savannah" or the "Company")
Statement Regarding Suspension
At the request of the Company, Savannah's ordinary shares have been suspended from trading on AIM with effect from 7.30 a.m. this morning.
The Company has entered into non-binding heads of terms regarding a potential transaction which, if completed on the currently proposed terms, would be classified as a reverse takeover under the AIM Rules for Companies.
The Company's ordinary shares will remain suspended from trading on AIM until such time as either an admission document setting out details of the proposed transaction is published, which would be no earlier than April 2016, or confirmation is given that the transaction is not proceeding.
Further announcements will be made in due course.
For further information:
Savannah Petroleum
Andrew Knott, CEO +44 (0) 20 3817 9844
Jessica Hostage, Corporate Communications
Celicourt Communications (Financial PR)Mark Antelme +44 (0) 20 7520 9266
Jimmy Lea
Mirabaud (Broker)
Peter Krens +44 (0) 20 7878 3362
Rory Scott
Strand Hanson (Nominated Advisor)
Rory Murphy +44 (0) 20 7409 3494
James Spinney
Ritchie Balmer