REG - Savannah Resources - Director and PDMR Dealings

Savannah ResourcesAnnouncement

21/11/2023 07:00

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RNS Number : 0553U  Savannah Resources PLC  21 November 2023

 

21 November 2023

 

Savannah Resources Plc

(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah,' or the 'Company')

 

Director and PDMR Dealings

 

Savannah, the resource development company focused on becoming Europe's most
significant producer of spodumene lithium concentrate from its Barroso Lithium
Project (the 'Project') in Portugal, has been informed that, on 17 November
2023 the Company Directors and Executives listed below made the following
purchases of Ordinary Shares of £0.01 each in the Company ("Shares"):

 

·    Mr Matthew King, Chairman, acquired a total of 166,667 Shares at a
price of 2.444 pence per Share, totaling £4,073.34;

·    Mr. Emanuel Proença, Chief Executive Officer, acquired a total of
200,000 Shares at an average price of 2.43835 pence per Share, totaling
£4,876.70; and

·    Mr James Leahy, Non-Executive Director, acquired a total of 210,000
Shares at a price of 2.428 pence per Share, totaling £5,098.80.

 

Following these acquisitions, the individuals listed above have total
beneficial interests in Savannah's Shares, with voting rights, as follows:

 

·    Mr King: 3,564,394, representing 0.19% of the Company's issued share
capital;

·    Mr Proença: 725,000, representing 0.04% of the Company's issued
share capital; and

·    Mr Leahy: 1,682,955, representing 0.09% of the Company's issued share
capital.

 

Additionally, other members of Savannah's Portuguese and HQ Team acquired
545,269 Shares on the 17 November 2023 for an aggregate consideration of
£13,160.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

 

 1.    Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         1.    Matthew King

                                                                     2.    Emanuel Proença

                                                                     3.    James Leahy
 2.    Reason for the notification
 a)    Position/status:                                              1.    Chairman

                                                                     2.    CEO

                                                                     3.    Non-Executive Director
 b)    Initial notification/Amendment:                               Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer, or auction monitor
 a)    Name:                                                         Savannah Resources Plc
 b)    LEI:                                                          213800UCK16HW5KKGP60
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted.
 a)    Description of the financial instrument, type of instrument:

       Identification code:                                          Ordinary Shares of £0.01 each

                                                                     ISIN:GB00B647W791
 b)    Nature of the transactions:                                   Purchase of Ordinary Shares
 c)    Price(s) and volume(s):                                       Price(s)             Volume(s)
                                                                     1. 2.4440 pence      1. 166,667

                                                                     2.1 2.4440 pence     2.1 150,000

                                                                     2.2 2.4440 pence     2.2 44,504

                                                                     2.3 2.3800 pence     2.3 5,496

                                                                     3. 2.4280 pence      3. 210,000
 d)    Aggregated information:                                       2.1 / 2.2 / 2.3

       Aggregated volume:                                            200,000

       Price:                                                        2.43835 pence average
 e)    Date of the transactions:                                     1. 17 November 2023

                                                                     2. 17 November 2023

                                                                     3. 17 November 2023
 f)    Place of the transactions:                                    London Stock Exchange

d)

Aggregated information:

Aggregated volume:

Price:

2.1 / 2.2 / 2.3

200,000

2.43835 pence average

e)

Date of the transactions:

1. 17 November 2023

2. 17 November 2023

3. 17 November 2023

f)

Place of the transactions:

London Stock Exchange

 

Regulatory Information

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK 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)

 SCP Resource Finance (Joint Broker)                                    Tel: +44 204 548 1765
 Filipe Martins/Chris Tonkin

 Camarco (Financial PR)                                                 Tel: +44 20 3757 4980

 Gordon Poole/ Emily Hall / Fergus Young

 LPM (Portugal Media Relations)                                         Tel: +351 218 508 110

 Herminio Santos/ Jorge Coelho

 

About Savannah

 

Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project in northern Portugal, the largest
spodumene lithium resource outlined to date in Europe.

 

Through the Barroso Lithium Project (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 rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May 2023 and the
Scoping Study confirmed the economic potential of the Project in June 2023,
production is now targeted and on track to begin in 2026. At that stage,
Savannah will start producing enough lithium for approximately half a million
vehicle battery packs per year, equal to a significant portion of the European
Commission's Critical Raw Material Act goal of a minimum 10% of European
endogenous lithium production set for 2030. Savannah is focused on the
responsible development and operation of the Barroso Lithium Project so that
its impact on the environment is minimised and the socio-economic benefits
that it can bring to all its stakeholders are maximised.

 

The Company is listed and regulated on the London Stock Exchange's Alternative
Investment Market (AIM) and the Company's ordinary shares are also available
on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol
FWB: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".

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