REG - Savannah Energy Plc - Termination of SPA

Savannah EnergyAnnouncement

13/12/2022 18:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221213:nRSM6022Ja&default-theme=true

RNS Number : 6022J  Savannah Energy Plc  13 December 2022

13 December 2022

 

Savannah Energy PLC

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

 

Termination of SPA for PETRONAS' Chad and Cameroon portfolio

 

On 13 December 2021, Savannah announced that it had entered into a Share
Purchase Agreement ("SPA") with PETRONAS (E&P) Overseas Ventures SDN. BHD.
("PETRONAS") to acquire PETRONAS' upstream and midstream asset portfolio in
Chad and Cameroon. Completion of the proposed acquisition remained subject to
satisfaction of certain conditions precedent which have not yet been
satisfied, and Savannah and PETRONAS have, therefore, mutually agreed to
terminate the SPA with immediate effect.

 

For further information, please contact:

 

 Savannah Energy                                                                   +44 (0) 20 3817 9844
 Andrew Knott, CEO
 Nick Beattie, 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                                                                +44 (0) 20 7220 0500
 Broker)

 Christopher Raggett

 Tim Redfern

 Panmure Gordon (UK) Ltd (Joint                                                    +44 (0) 20 7886 2500
 Broker)

 John Prior

 Hugh Rich

 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 ("MAR").

 

About Savannah Energy:

 

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

 

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

 

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  MSCDZMMZNFLGZZM