REG - Savannah Energy Plc - Result of General Meeting and Total Voting Rights

Savannah EnergyAnnouncement

24/01/2022 17:00

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RNS Number : 4383Z  Savannah Energy Plc  24 January 2022

24 January 2022

 

 

Savannah Energy PLC

("Savannah", the "Company" or the "Group")

 

Result of General Meeting ("GM") and Total Voting Rights ("TVR")

 Savannah Energy PLC, the British independent energy company focused around
the delivery of Projects that Matter in Africa, announces it held a general
meeting at 10.30 a.m. today to approve, inter alia, the Exxon Acquisition and
the PETRONAS Acquisition, and the allotment of, inter alia, the EBT Shares
and the Warrant Shares.  In total, there were 10 resolutions proposed and the
Company is pleased to announce that all 10 resolutions proposed were duly
passed by way of a poll of the requisite majority. The votes received in
relation to the resolutions were as follows:

 

 

 No.  Resolution                     For              For     Against          Against  Withheld

      *indicates special resolution  (No. of shares)  (%)     (No. of shares)  (%)      (No. of shares)
 1    Approve Exxon Acquisition      876,994,633      100.00  600              0.00     175,000
 2    Approve PETRONAS Acquisition   876,995,233      100.00  0                0.00     175,000
 3    Allot Ordinary Shares          876,146,323      99.90   843,190          0.10     180,720
 4    Allot the EBT Shares           626,325,518      83.34   125,229,929      16.66    125,614,786
 5    Allot the Warrant Shares       874,677,773      99.74   2,311,740        0.26     180,720
 6    Allot the new Ordinary Shares  743,387,003      98.83   8,834,209        1.17     124,949,021
 7    Pre-emption Rights*            868,100,906      99.06   8,222,842        0.94     846,485
 8    Pre-emption Rights - EBT*      626,297,120      83.33   125,258,327      16.67    125,614,786
 9    Warrant Shares*                871,699,375      99.47   4,624,373        0.53     846,485
 10   Ordinary Shares*               743,358,605      98.91   8,196,842        1.09     125,614,786

 

 NOTES:

 1.      All resolutions were passed.

 2.      Proxy appointments which gave discretion to the Chairman of the GM have been
         included in the "For" total for the appropriate resolution.

 3.      A "Vote withheld" is not a vote in law and is not counted in the calculation
         of the percentage of shares voted "For" or "Against" any resolution.

 4.      The number of shares in issue at 6:00 p.m. on 20 January 2022 was
         1,248,031,868 (the "Share Capital") and at that time, the Company did not hold
         any shares in treasury.

Further details on the Resolutions, and the remaining conditions to
Completion, are contained in the Company's AIM Admission Document published on
30 December 2021 ("Admission Document"), which is available on the Company's
website.

 

Following allotment of the EBT Shares, which is expected later this week,
application will be made for the EBT Shares (which consists of 58,066,951 new
Ordinary Shares) to be admitted to trading on AIM, which such admission
expected to take place on or around 4 February 2022.

Following admission of the EBT Shares, the Company will have 1,306,098,819
Ordinary Shares in issue. The Company does not hold any Ordinary Shares in
treasury and accordingly this will be the total number of voting rights in the
Company and may be used by Shareholders as the denominator for the
calculations by which they determine if they are required to notify their
interest in, or change to their interest in, the Company under the FCA's
Disclosure Rules and the Transparency Rules.

Unless otherwise defined, capitalised terms in this announcement have the same
meaning ascribed to them in the Company's Admission Document.

For further information, please contact:

 

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

 Strand Hanson (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 Broker)          +44 (0) 20 7886 2500

 John Prior

 Hugh 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 listed British independent energy company
focused around the delivery of Projects that Matter in Africa. In Nigeria,
the Company has controlling interests in the cash flow generative Uquo and
Stubb Creek oil and gas fields, and the Accugas midstream business in South
East Nigeria, which provides gas enabling over 10% of Nigeria's thermal power
generation. In Niger, the Company has licence interests covering approximately
50% of the highly oil prolific Agadem Rift Basin of South East Niger, where
the Company has made five oil discoveries and seismically identified a large
exploration prospect inventory consisting of 146 exploration targets to be
considered for potential future drilling activity. The Company has announced
that it is in the process of acquiring a portfolio of upstream and midstream
assets in Chad and Cameroon.

Further information on Savannah Energy PLC can be found on the Company's
website: www.savannah-energy.com (http://www.savannah-energy.com/) .

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