REG - Savannah Resources - Parish Council legal action against APA/Ministry

Savannah ResourcesAnnouncement

28/09/2023 12:15

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RNS Number : 0283O  Savannah Resources PLC  28 September 2023

 

 

28 September 2023

Savannah Resources Plc

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

 

Barroso Lithium Project Update

Action Brought Against the Portuguese Environment Agency/Ministry of
Environment and Climate Action by Parish Council

 

Savannah, the European lithium development company, advises that its wholly
owned subsidiary, Savannah Lithium Unipessoal Lda., has been joined as the
counter-interested party in a lawsuit brought by the Parish of Covas do
Barroso as plaintiff in the Mirandela Fiscal and Administrative Court in
Portugal (the 'Court') against the Portuguese Environmental Agency ('APA') and
the Ministry of Environment and Climate Action as defendants.

 

The lawsuit seeks to nullify the positive Environmental Impact Statement
('DIA') and supporting documents for Savannah's revised design and
optimisation for the Barroso Lithium Project, issued in May 2023 by the APA, a
public institute within the scope of the Portuguese Environment and Climate
Action Ministry.

 

The lawsuit does not impact the Barroso Lithium Project's activities. The
lawsuit follows the common procedure regime. Under this regime, the submission
of this lawsuit does not suspend the DIA. It remains in force and allows
Savannah to proceed with all the actions authorised by its content.

 

The advice from Savannah's lawyers is that the lawsuit is without foundation.

 

Savannah will make further announcements regarding the lawsuit as appropriate.

 

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
(http://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)

 RBC Capital Markets (Joint Broker)                                      Tel: +44 20 7653 4000

 Farid Dadashev/ Jamil Miah

                                                                         Tel: +44 20 3757 4980

 Camarco (Financial PR)

 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 sole owner of
the Barroso Lithium Project in northern Portugal.

 

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. Through the Barroso Lithium Project, Savannah can 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.
Production is targeted to begin in 2026, producing enough lithium for
approximately half a million vehicle battery packs per year.

 

The Company is listed and regulated on 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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