REG - Savannah Resources - Board Changes

Savannah ResourcesAnnouncement

07/10/2025 07:02

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RNS Number : 2816C  Savannah Resources PLC  07 October 2025

 

7 October 2025

Savannah Resources Plc

(AIM: SAV) ('Savannah' or the 'Company')

 

Board Changes

 

Savannah Resources plc, the developer of the Barroso Lithium Project (the
'Project') in Portugal, one of the European Commission's 'Strategic Projects'
under the Critical Raw Materials Act and Europe's largest spodumene lithium
deposit, announces two changes to its Board of Directors which reflect the
progress made in the Project and preparation for the steps ahead, which
include project financing, construction and subsequent operation.

 

After 12 years of dedicated service on the Company's Board, Mr Dale Ferguson
is stepping down from the Board, effective from 7 October 2025. Mr Ferguson is
a particularly important person with regards to Savannah's progress at the
Barroso Lithium Project, as it was through him that the C-100 concession was
transitioned from feldspar to lithium, and it was through his sustained
cross-continental efforts that it progressed through the traditional
geological de-risking process to the current stage of confirmation of economic
value and preparation for project execution. Savannah is pleased to report
that Mr Ferguson will remain with the Company as part of its executive
leadership team in his current role of Chief Technical Officer, ensuring
continuity in the leadership of Savannah's technical team as the Company
continues to develop the Project.

 

In addition, The Board is pleased to confirm that Mr Paulo Pinto, a
representative of the Company's substantial shareholders, Grupo Lusiaves SGPS,
S.A ('Grupo Lusiaves') and Pluris Investments, S.A. 1  (#_ftn1) ('Pluris')
(the 'Shareholders'), has joined the Board as a Non-Executive Director. Mr.
Paulo Pinto is an experienced Board Member and Senior Executive with over 30
years of leadership in the banking and financial services industry. He has
served on the boards of multiple financial institutions and currently holds
the position of Executive Board Member at Pluris Investments, a diversified
investment group based in Portugal. His appointment provides greater
connectivity with the Company's significant Portuguese shareholders and
increases Savannah's network among key stakeholders in the finance and
business sectors within the country.

 

Rick Anthon, Savannah's Chairman said: "I would like to thank Dale for his
long and diligent service as a member of Savannah's Board and I am delighted
that he is remaining in his executive role as Chief Technical Officer, leading
on the technical aspects of the development of the Barroso Lithium Project as
we move into a critical phase on the timeline. The Board retains significant
mining and lithium sector experience through Non-Executive Director, Bruce
Griffin, and myself.

 

"I am also pleased to welcome Paulo Pinto to the Board. Paulo brings
significant experience in the Portuguese financial sector to the Board, which
will complement the recent CFO and Project Finance Manager appointments we
made as we prepare for the Project's construction financing phase.

 

"While we will continue to enhance our team as we move forward, I feel
confident that Savannah has the ideal Board and management team today to move
the Project through its upcoming milestones."

 

Paulo Pinto, Savannah's new Non-Executive Director said, "It is a privilege to
join the Board of Savannah Resources as a Non-Executive Director at such a
strategically significant moment for the Company. Although my professional
background lies outside the mining sector, for decades I have followed the
construction of industrial businesses in northern Portugal in particular, and
I believe this external viewpoint can add value by introducing diverse
thinking and independent analysis as the company approaches key decisions in
the Project's development.

 

"My intention is to help with a disciplined, objective lens in Board
discussions - supporting the executive team by constructively challenging
assumptions, encouraging rigorous evaluation of risks and opportunities, and
ensuring that decisions are grounded in long-term value creation and
responsible governance. I look forward to contributing to Savannah's ambitions
with a strong commitment to transparency, stakeholder alignment, and strategic
clarity during this important phase of growth."

 

Further Information

 

The Shareholders have each entered into separate relationship agreements (the
"Relationship Agreements") with the Company and SP Angel (the Company's
Nominated Adviser). Under the Relationship Agreements, for so long as the
Shareholders are together interested in Ordinary Shares carrying a combined 20
per cent. or more of the Company's voting share capital, the Shareholders have
undertaken that each will not act to unduly influence the Company or its Board
and will ensure that transactions entered into between themselves and with the
Company are on an arm's length basis and independently considered by the
Company. The Relationship Agreements oblige the Shareholders not to vote
against shareholder resolutions to authorise the directors to issue new
shares, but will provide the Shareholders with the right to maintain their
respective proportional shareholdings in the Company's fully diluted share
capital in future fundraises exceeding 5 per cent of the Company's issued
share capital at the time. The Relationship Agreements provides that for so
long as the Shareholders are together interested in Ordinary Shares carrying
at least 20 per cent. of the Company's voting share capital, the Shareholders
shall together be entitled to appoint one director, jointly nominated between
them, to the board of the Company. The Relationship Agreements also preclude
the Shareholders from acquiring additional shares in the Company if, as a
result, their combined holding would exceed 29.9% of the Company's issued
share capital, without the consent of the Company and any requisite regulatory
approvals.

 

 

Mr Paulo Pinto

 

Mr. Paulo Jose Matos Oliveria Pinto (aged 55) is an experienced Board Member
and Senior Executive with over 30 years of leadership in the banking and
financial services industry. He has served on the boards of multiple financial
institutions and currently holds the position of Executive Board Member at
Pluris Investments, a diversified investment group based in Portugal.

 

Throughout his career, he has held senior management roles in areas including
corporate and SME banking, strategic planning, structured finance, and
M&A, notably during a 30-year tenure at Caixa Geral de Depósitos,
Portugal's leading state-owned bank. He brings a strong track record in
governance, business transformation, and investment oversight.

 

An advocate of lifelong learning, he holds executive education credentials
from Stanford GSB, MIT, INSEAD, London Business School, and others. His
academic foundation in Economics (FEP - Universidade do Porto) is complemented
by advanced training in financial analysis, credit risk, leadership,
innovation, and strategic management.

 

Mr. Paulo Pinto is certified in Financial Analysis by the European Association
of Financial Analysts.

 

With a strong understanding of international markets and regulatory
frameworks, he contributes strategic insight and disciplined execution to
investment decision-making processes, particularly in high-impact,
growth-oriented environments.

 

Director's Interests

 

 Current Directorships / Partnerships                                         Former Directorships / Partnerships within the last 5 years
 Pluris Investments S.A.                                                      Garval - Sociedade de Garantia Mútua S.A.
 RProperties - Famalicão Central Park S.A.                                    Agrogarante - Sociedade de Garantia Mútua S.A.
 Mystic New Avenue S.A.                                                       Norgarante - Sociedade de Garantia Mútua S.A.
 Valens Private Equity Unipessoal Lda                                         Lisgarante - Sociedade de Garantia Mútua SA
 CDNCD - Construção e Desenvolvimento de Navios Comerciais e de Defesa S.A
 Mystic Golden River Tours S.A.
 Historical Porto Offices S.A.
 Mystic TUA S.A.
 World of Discoveries S.A.
 Mystic Real Estate S.A.
 Caminho das Estrelas - Turismo Espacial S.A.
 Douro Marina Hotel, S.A.
 Helitours - Douro - Transportes Aéreos S.A.
 Pinto & Ferreira - Sociedade de Exploração Hoteleira e Turistica S.A.
 Vise Mundum, S.A.
 Energia Fundamental Mobilidade Eléctrica S.A
 Citypure - Soluções de Mobildade Sustentável Lda
 CITIDY - Soluções Urbanas Sustentáveis S.A.
 Paulo José Matos Oliveira Pinto EIRL

 

Save as specified above, there is no information relating to Paulo Pinto that
is required to be disclosed in accordance with Rule 17 and Schedule 2(g) of
the AIM Rules for Companies.

 

Regulatory Information

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"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Savannah - Enabling Europe's energy transition.

 

**ENDS**

 

Follow @SavannahRes on X (Formerly known as Twitter)

 

Follow Savannah Resources on LinkedIn

 

 

For further information please visit www.savannahresources.com or contact:

 

 Savannah Resources PLC                                                  Tel: +44 20 7117 2489

 Emanuel Proença, CEO

 SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)       Tel: +44 20 3470 0470

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

                                                                         Tel: +44 20 7523 8000

 Canaccord Genuity Limited (Joint Broker)

 James Asensio / Charlie Hammond (Corporate Broking)

 Ben Knott (Sales)

 Portugal Media Relations

 António Neves Costa (Communications Manager)                            Tel: +351 962 678 912

 

About Savannah

Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project (the 'Project') in northern Portugal. The
Project is the largest battery-grade spodumene lithium resource outlined to
date in Europe and was classified as a 'Strategic Project' by the European
Commission under the Critical Raw Materials Act in March 2025.

 

Through the Project, Savannah will help Portugal to play an important role in
providing a long-term, locally sourced, lithium raw material supply for
Europe's lithium battery value chain. Once in operation, the Project will
produce enough lithium for at least half a million vehicle battery packs per
year and hence ensure that Europe reaches the European Commission's Critical
Raw Material Act goal of a minimum 10% of European endogenous lithium
production from 2030. Savannah is focused on the responsible development and
operation of the Barroso Lithium Project so that its impact on the local
environment is minimised, and that its impact on the global energy transition
and the socio-economic benefits that it can bring to all its stakeholders are
both maximised.

 

The Company is listed and regulated on the AIM Market of the London Stock
Exchange and trades under the ticker "SAV".

 1  (#_ftnref1) In which Mr. Mario Nuno Dos Santos Ferreira is the majority
shareholder.

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