REG - Savannah Energy Plc - Board Changes and Financial Reporting Update

Savannah EnergyAnnouncement

09/10/2025 07:05

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RNS Number : 7168C  Savannah Energy Plc  09 October 2025

9 October 2025

Savannah Energy PLC

("Savannah" or "the Company")

 

Board Changes and Financial Reporting Update

 

Savannah Energy PLC, the British independent energy company focused
around the delivery of Projects that Matter in Africa, announces several
planned Board changes, in line with the Company's succession planning regime.

 

Sir Stephen O'Brien and David Clarkson have retired from the Board. Savannah
extends its sincere thanks to both for their dedication and service as
Directors over the past eight years. During their tenure they have been
instrumental in supporting the Company's governance framework and Board
processes.

 

Savannah is also pleased to announce the intended appointments of Uyi Akpata
and Kehinde Olamide Ogunwumiju as Independent Non-Executive Directors. Uyi
and Kehinde bring significant experience in audit, finance and legal affairs,
further strengthening the Board's capabilities in these key areas. Upon
joining the Board, Mr Akpata is expected to serve as Chair of the Audit
Committee.(1)

 

Joseph Pagop Noupoué, Chairman of Savannah, commented:

 "The changes announced this morning form part of Savannah's ongoing and
dynamic Board succession planning process, which is designed to evolve in step
with the Company's strategic direction, operational priorities, and growth
trajectory.

 

On behalf of the Board, I would like to wish Sir Stephen and David every
success in the future. As part of our structured approach to Board renewal,
their agreed retirement reflects the natural progression of our governance
planning. That said, both have been highly valued colleagues whose insight,
integrity, and presence around the Board table will be genuinely missed. We
are delighted that both have agreed to take on ongoing consultancy roles,
ensuring the Company can continue to benefit from their extensive experience
and deep understanding of our business. We wish them every success in the
future and thank them wholeheartedly for their service.

 

I am also delighted to welcome Uye and Kehinde as incoming Directors. Both are
internationally respected professionals in their respective fields - finance
and legal - and have proven track records supporting dynamic, high growth
organisations. I believe their expertise will be instrumental as Savannah
continues its growth trajectory across Africa."

Sir Stephen O'Brien, Retiring Vice Chair and Non-Executive Director, Savannah,
commented:

"Having been involved with the Company since its very inception 11 years ago,
and after eight stimulating years as Vice-Chairman of Savannah, I am stepping
down with pride in what has been built together as a team. Over this time,
Savannah has transformed into a leading African energy company, advancing
projects across the continent in both hydrocarbons and renewables. I am
pleased to have had the opportunity to contribute to our journey. I wish
everyone at Savannah every success and look forward to maintaining my support
for the company in a new political advisory role."

David Clarkson, Retiring Non-Executive Director, Savannah, commented:

"Since joining the Board in 2017, I have enjoyed a wonderful journey with
Andrew and my Board colleagues as Savannah grew in stature delivering Projects
That Matter. I wish the Company every success as it continues to build
sustainable businesses across its portfolio of opportunities. I look forward
to supporting the Company as Technical Advisor to the Board."

 

New Director Biographies

Uyi Akpata

A Chartered accountant by background, with an over 40-year career, Uyi Akpata
held multiple senior leadership roles at PwC, the leading international audit
and professional services firm, prior to his retirement on 30 June 2024. His
key roles include Senior Partner for Nigeria and Regional Senior Partner for
West Africa, Head of Oil and Gas for Africa and a member of both the firm's
Global Oil & Gas Leadership team and Africa Leadership team. With his
assurance services background, Uyi led audit work for the energy supermajors
active in Nigeria, the Nigerian National Petroleum Corporation and a host of
high growth emerging energy companies. He has also supervised teams auditing
companies outside of the energy sector, in areas such as financial services,
consumer goods and agriculture. More recently, in October 2024, Uyi founded
Rusa Advisory, where he specialises in providing governance and risk
management advisory services, partnering with business leaders to drive
sustainable growth, efficiency and profitability.

Uyi is currently Chairman of the Board of emPLE Life Insurance, Chairman of
the Advisory Board of Unified Payments Limited, Chairman of the Board of
Trustees of the Unity Schools Old Students Association and President of the
Nigerian Cricket Federation. He also served as Chairman of the Professional
Services Group of the Nigeria British Chamber of Commerce. Uyi holds a
Bachelor of Science degree (BSc) in Accounting from the University of Lagos.
He is a qualified Chartered Accountant of the Institute of Chartered
Accountants of Nigeria and is currently a Fellow of the Institute. In
recognition of his contributions to the business environment in Nigeria, Uyi
was awarded an Honorary Doctorate Degree in Management Science by Wellspring
University in 2018. He is a member of the Board of Trustees of Miva Open
University, where he also serves as Professor of Practice in Financial
Accounting.

 

Kehinde Olamide Ogunwumiju O.F.R., S.A.N., FCIArb. (U.K.)

Kehinde is the Managing Partner at Afe Babalola & Co, a leading African
law firm. Since his appointment in 2017, and continuing to date, he has
remained one of the youngest Senior Advocates of Nigeria ("SAN"), the Nigerian
equivalent of a King's Counsel, ever appointed. His practice has seen him
successfully represent the Nigerian National Petroleum Corporation in over 100
disputes and the Federal Republic of Nigeria in multiple international
disputes, including against a near US$5 billion claim at the International
Centre for the Settlement of Investment Disputes ("ICSID") in Washington DC.
He has worked on many Nigerian and international arbitrations.

 

Kehinde received the prestigious Officer of the Order of the Federal Republic
("OFR") as part of the National Honours List from the President of the
Federal Republic of Nigeria in 2023. He is a Fellow of the Chartered Institute
of Arbitrators (CIArb) UK, a member of the Nigerian Bar Association, the
Chartered Insurance Institute of Nigeria ("CIIN"), the International Bar
Association and the Abuja Chamber of Commerce, Industry, Mines &
Agriculture, and is an associate of the Institute of Chartered Secretaries and
Administrators of Nigeria ("ICSAN"), the professional body for corporate
governance practitioners in Nigeria.

 

Kehinde began his legal education at the University of Ibadan, where he earned
his LL.B with Honours.  He continued his studies at the Nigerian Law School,
obtaining his B.L. in 2005, and then pursued an LL.M. in International
Commercial Law at the University of Northumbria at Newcastle-Upon-Tyne,
England, in 2007.

 

Regulatory disclosures (in accordance with Rule 17 and Schedule two paragraph
(g) of the AIM Rules) are as set out below:

Uyiosa Nosawaru Akpata (aged 61) holds or has held the following directorships
or partnerships in the past five years:

 Current Directorships/Partnerships  Past Directorships/Partnerships
 Maven Partners                      Axum Constructs Limited
 Proper Tee Limited                  De-Petraco Leasing Co. Limited
 Rusa Advisory                       Kush Constructs Limited
 Ecoba 74/79 Concept                 PwC Africa Limited
 emPLE Life Assurance Limited        PwC Nigeria Limited
 Set-79 Investment Limited           Quince Prime Limited
 Trishbeth Investment Limited
 Unified Payments Limited

He has no shareholding in the Company.

Kehinde Olamide Ogunwumiju (aged 43) holds or has held the following
directorships or partnerships in the past five years:

 Current Directorships/Partnerships       Past Directorships/Partnerships
 Abuad Management Company Ltd             N/A
 Adga Investment Nig Ltd
 Afe Babalola & Co.
 Bita Exploration and Production Limited
 Curlew Express Limited
 Dekra International Services Limited
 Doxology Oil Services Ltd
 Doxology Oil Trading and Logistics Ltd
 Kwaliteit Frieden Energy Resources Ltd
 Lumen Energy Limited
 Septagon Bros Limited
 Strasbourg Shore Nig Ltd
 Tee's Mums and Kids Limited

He has no shareholding in the Company.

Financial Reporting Update

The Company now expects to publish its 2024 Annual Report and Accounts and its
Half Year Results for the six months ended 30 June 2025 during the week
commencing 13 October 2025, together with a comprehensive trading update for
the nine months ended 30 September 2025. As a result of the delayed
publications, and pursuant to the requirements of AIM Rules 18 and 19, trading
in the Company's shares will remain suspended until both sets of accounts and
the trading update are published.

 

For further information, please refer to the Company's website
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

 

Cavendish Capital Markets Ltd (Joint
Broker)                      +44 (0) 20 7220 0500

Derrick Lee

Tim Redfern

 

Panmure Liberum Limited (Joint
Broker)                              +44 (0) 20
3100 2000

Scott Mathieson

James Sinclair-Ford

 

Camarco
+44 (0) 20 3757 4983

Billy Clegg

Owen Roberts

Violet Wilson

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018, as amended.

 

About Savannah:

Savannah Energy PLC is a British independent energy company focused around the
delivery of Projects that Matter in Africa.

Footnote:

(1.) Kehinde Olamidie Ogunwumiju is expected to join the Board effective 1
January 2026. Uyi Akpata is expected to join the Company as a Board Advisor
from 1 January 2026 and be appointed as a Non-Executive Director on 1 July
2026, following the completion of a two-year "cooling off" period (required
under the ethical standards of the Financial Reporting Council) having retired
from PwC on 30 June 2024.

 

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