REG - Savannah Energy Plc - Appointment of NED and Chair

Savannah EnergyAnnouncement

21/04/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230421:nRSU0384Xa&default-theme=true

RNS Number : 0384X  Savannah Energy Plc  21 April 2023

21 April 2023

 

 

Savannah Energy PLC

("Savannah" or the "Company")

 

Appointment of Non-Executive Director & Chair Designate

 

Savannah Energy PLC, the British independent energy company focused around
the delivery of Projects that Matter, is pleased to announce that it has
appointed Joseph Pagop Noupoué as a Non-Executive Director and Chair
Designate, with immediate effect. As previously announced on 7 June 2022,
Steve Jenkins plans to step down from his role as the Company's Non-Executive
Chair at the close of the 2023 Annual General Meeting, having completed over
eight years in the role, but will continue to serve as a Non-Executive
Director of the Company.

Joseph Pagop Noupoué is currently a senior partner at EY, the leading global
professional services firm, whose work is focused around corporate (including
contract, M&A and dispute resolution) and fiscal law matters, as well as
major client relationship management in the French speaking and North African
regions. He was formerly head of the Africa Department of EY Société
d'Avocats France and is presently EY Managing Partner for Cameroon and Tax
Leader for French speaking Africa leading more than 400 professional service
providers located in nine countries.

Joseph's private sector experience has spanned advisory work in over 20
African countries, for a client list which includes the energy (e.g. BP,
Shell, Eni, TotalEnergies, ExxonMobil and Petronas) and mining (e.g. Rio
Tinto, Kinross, Mittal and BHP) majors, as well as leading FTSE100, CAC40 and
Fortune 500 energy and mining service companies and major private equity
houses. His public sector practice has included work for many African
countries (including around the drafting of those countries' relevant energy
and mining codes) and developmental finance institutions such as the World
Bank Group.

Joseph is an Attorney at Law. He holds the French Bar Association Diploma
(CAPA) and a Post Graduate Diploma in Banking and Finance (DESS) of the
University of Lyon, France. Formerly registered with the French Bar (Hauts de
Seine), he is registered with the Cameroon Bar. He also holds a Post Graduate
Diploma in Banking and Finance (DESS) from the University of Lyon, France.

In conjunction with his appointment, Joseph has agreed to subscribe for
6,095,726 new ordinary shares in the capital of the Company ("Ordinary
Shares") at a subscription price as agreed between the Company and Joseph of
26.25 pence per share, equating to a total investment of approximately US$2
million

Commenting on the appointment, Steve Jenkins, Non-Executive Chair of Savannah,
said:

"I am delighted that Joseph has been appointed as a Non-Executive Director and
Chair Designate of Savannah. I believe his leadership skills, deep knowledge
of the African business environment and extensive business, financial and
legal expertise will serve Savannah well and will complement the skills of the
existing Board and senior management team.

 

It has been a privilege to be the Chair of Savannah for over the past eight
years and I look forward to contributing to the continuing success of the
business as a Non-Executive Director."

 

 

Joseph Pagop Noupoué commented:

"I am pleased to be joining Savannah at this key point in its growth and look
forward to applying my experience to the role. I would like to thank outgoing
Chair, Steve Jenkins, for his tenure in guiding this company since 2014 and
look forward to working with him, the rest of the Board and executive
management team towards our many and wide-ranging goals.

 

It is very clear to me that Savannah is ambitious but fuelled by a passion to
do good in the world. The benefits Savannah has brought to African communities
in Nigeria and Niger and plans for Cameroon and South Sudan are impressive and
evident."

 

 Andrew Knott, CEO of Savannah Energy, said:

"I am delighted that Joseph has agreed to join Savannah as a Non-Executive
Director and Chair Designate. Joseph has considerable experience in Africa and
his background in advisory services to the African energy sector places him in
an excellent position to steward Savannah to further growth through strong
leadership and the promotion of good governance. I look forward to working
with Joseph and would also like to take this opportunity to thank Steve
Jenkins for his strong leadership of the Board from Savannah's initial listing
to the current day and am grateful that his experience will be retained in his
continuing role as a Non-Executive Director."

 

Additional Information

 

The following additional information is provided in accordance with paragraph
(g) of Schedule Two of the AIM Rules for Companies.

 

Joseph Pagop Noupoué (age 54)

 

 Current Directorships/Partnerships        Past Directorships/Partnerships

                                           (last 5 years)
 Cameroon Oil Transportation Company S.A.  Financière d'Afrique SAS

 Ernst & Young Europe LLP                  SAS Terres du Moungo

 Ernst & Young Cameroon S.A.               SCI Drouot Akwa

 Ernst & Young Cameroon SARL

 Terres du Moungo SARLU

 Ranch de Ngaoundaba SARL

 

Other than the information contained within this announcement, there is no
further information required to be disclosed pursuant to paragraph (g) of
Schedule Two of the AIM Rules for Companies.

Admission and Total Voting Rights

Following the issue of the 6,095,726 new Ordinary Shares, the Company will
have 1,312,194,545 Ordinary Shares in issue, all with voting right attached.

Application will be made in due course to the London Stock Exchange plc for
admission of the 6,095,726 new Ordinary Shares to trading on AIM, which is
expected to take effect on or shortly following restoration to trading on AIM
of the Ordinary Shares, which will occur following the publication of an AIM
Admission Document in respect of the Company's proposed acquisition of
PETRONAS International Corporation Limited's entire oil and gas business in
South Sudan and a further announcement will be made when appropriate.

 

For further information, please refer to the Company's
website www.savannah-energy.com (http://www.savannah-energy.com/)  or
contact:

 

 Savannah Energy                                                               +44 (0) 20 3817 9844
 Andrew Knott, CEO
 Nick Beattie, CFO
 Sally Marshak, Head of IR & Communications

 Strand Hanson Limited (Nominated Adviser)                                     +44 (0) 20 7409 3494
 James Spinney
 Ritchie Balmer
 Rob Patrick

 finnCap Ltd (Joint Broker)                                                    +44 (0) 20 7220 0500
 Christopher Raggett
 Tim Redfern

 Panmure Gordon (UK) Ltd (Joint                                                +44 (0) 20 7886 2500
 Broker)
 John Prior
 Hugo Rich
 James Sinclair-Ford

 Camarco                                                                       +44 (0) 20 3757 4983
 Billy Clegg
 Owen Roberts
 Violet Wilson

 

 

About Savannah Energy:

Savannah Energy PLC is an AIM quoted British independent energy company
focused around the delivery of Projects that Matter and is active in Cameroon,
Niger and Nigeria.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAKZGZDKMZGFZG