REG - Savannah Resources - Notification of Major Shareholding

Savannah ResourcesAnnouncement

26/06/2024 09:45

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RNS Number : 9625T  Savannah Resources PLC  26 June 2024

 

 

26 June 2024

 

Savannah Resources Plc

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

 

Notification of Major Shareholding

 

An Event Changing the Breakdown of Voting Rights

 

Savannah Resources Plc, the developer of the Barroso Lithium Project (the
'Project') in Portugal, Europe's largest spodumene lithium deposit, announces
that it has received the following TR-1 notification from Grupo Lusiaves SGPS,
S.A. due to a change in the Company's total voting rights following the
subscription by AMG Critical Materials B.V. announced on 20 June 2024.

 

TR-1: Notification of major holdings

 

 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
 FCA in Microsoft Word format if possible) (i)

 1a. Identity of the issuer or the underlying issuer of existing shares to                                                                                    Savannah Resources Plc
 which voting rights are attached (ii):
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X"
 if appropriate)
 Non-UK issuer
 2. Reason for the notification (please mark the appropriate box or boxes with
 an "X")
 An acquisition or disposal of voting rights
 An acquisition or disposal of financial instruments
 An event changing the breakdown of voting rights                                                                                                                                                                                                          X
 Other (please specify) (iii):
 3. Details of person subject to the notification obligation (iv)
 Name                                                                                                                                                         Grupo Lusiaves SGPS, S.A.
 City and country of registered office (if applicable)                                                                                                        Figueira da Foz, Portugal
 4. Full name of shareholder(s) (if different from 3.) (v)
 Name
 City and country of registered office (if applicable)
 5. Date on which the threshold was crossed or reached (vi):                                                                                                  20/06/2024
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                               21/06/2024
 7. Total positions of person(s) subject to the notification obligation
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments      Total of both in % (8.A + 8.B)  Total number of voting rights held in issuer (8.A + 8.B) (vii)

(total of 8.B 1 + 8.B 2)
 Resulting situation on the date on which threshold was crossed or reached  2.700                                                  0.00                                                  2.70                            58,639,660
 Position of previous notification (if                                      3.20                                                   N/A                                                   3.20

 applicable)

 

 8. Notified details of the resulting situation on the date on which the
 threshold was crossed or reached (viii)
 A: Voting rights attached to shares
 Class/type of                 Number of voting rights (ix)                                                                 % of voting rights

shares

 ISIN code (if possible)
                                                                Direct                                                      Indirect                                                      Direct                  In

                       di
                                                                (DTR5.1)                                                     (DTR5.2.1)                                                   (DTR5.1)                re
                                                                                                                                                                                                                  ct

                                                                                                                                                                                                                  (D
                                                                                                                                                                                                                  TR
                                                                                                                                                                                                                  5.
                                                                                                                                                                                                                  2.
                                                                                                                                                                                                                  1)
 GB00B647W791                  58,639,660                                                                                   2.70

 SUBTOTAL 8. A                 58,639,660                                                                                   2.70

 B 1: Financial Instruments according to DTR5.3.1R (1) (a)
 Type of financial instrument  Expiration               Exercise/                                   Number of voting rights that may be acquired if the instrument is       % of voting rights

date (x)
Conversion Period (xi)

                                                                                                    exercised/converted.

                                                        SUBTOTAL 8. B 1

 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
 (1) (b)
 Type of financial instrument                   Expiration      Exercise/                   Physical or cash                                        Number of voting rights               % of voting rights

date (x)
Conversion Period (xi)

                                                                                            Settlement (xii)

                                                                                            SUBTOTAL 8.B.2

 

 9. Information in relation to the person subject to the notification
 obligation (please mark the

 applicable box with an "X")
 Person subject to the notification obligation is not controlled by any natural                                                                                                                                           X
 person or legal entity and does not control any other undertaking(s) holding
 directly or indirectly an interest in the (underlying) issuer (xiii)
 Full chain of controlled undertakings through which the voting rights and/or
 the

financial instruments are effectively held starting with the ultimate
 controlling natural person or legal entity (please add additional rows as
 necessary) (xiv)
 Name (xv)                   % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher  Total of both if it equals or is higher than the notifiable threshold
                                                                                                         than the notifiable threshold

 10. In case of proxy voting, please identify:
 Name of the proxy holder
 The number and % of voting rights held
 The date until which the voting rights will be held

 

 11. Additional information (xvi)

 

 Place of completion  Figueira da Foz, Portugal
 Date of completion   21/06/2024

 

 

Savannah - Enabling Europe's energy transition.

**ENDS**

Follow @SavannahRes on X

Follow Savannah Resources on LinkedIn

 

For further information please visit www.savannahresources.com
(https://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 / Nuthara Bandara
 LPM (Portugal Media Relations)                                         Tel: +351 218 508 110

 Herminio Santos/ Jorge Coelho / Margarida Pinheiro

 

 

About Savannah

Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project in northern Portugal, the largest battery
grade 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 (contained in c.190,000tpa of
spodumene concentrate) 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.

 

In June 2024, Savannah entered a strategic partnership with AMG Critical
Materials N.V., the global critical materials business and established lithium
market participant. AMG has invested GBP 16m in Savannah in exchange for a
15.8% stake in the Company and a 5 year, 45ktpa spodumene offtake agreement.
This investment alongside existing cash provides Savannah with the finance
required to take the Project to a Final Investment Decision point. AMG can
increase its offtake to 90ktpa for 10 years if it provides an acceptable full
project funding solution for the Project's construction.

 

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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