REG - Savannah Resources - Retail Offer increases Fundraise to £4.8 million

Savannah ResourcesAnnouncement

Wed 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250702:nRSB3113Pa&default-theme=true

RNS Number : 3113P  Savannah Resources PLC  02 July 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF
CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER FOR SALE OR
SUBSCRIPTION IN RESPECT OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT
DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE
OF ANY SECURITIES OF SAVANNAH RESOURCES PLC IN ANY JURISDICTION IN WHICH ANY
SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7(1)
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 AS AMENDED BY THE EUROPEAN UNION (WITHDRAWAL) ACT 2020
("MAR").

2 July 2025

Savannah Resources Plc

 

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

 

RetailBook Offer increases total Fundraise to £4.8 million

Successful RetailBook Offer and Additional Subscriptions increase total
Fundraise to £4.8 million

 

Savannah Resources plc, the European lithium development company is pleased to
announce the successful completion of the RetailBook Offer that was announced
on 26 June 2025 as well as an update on additional subscriptions which it has
received.

 

Following the successful completion of the non-pre-emptive Placing and
Subscription on 27 June 2025 (which raised, in aggregate, gross proceeds of
£4.24 million (US$5.81 million) before expenses), private investors have
subscribed via the RetailBook Offer for a total of 8,606,866 Ordinary Shares
at the Issue Price (the "RetailBook Shares"), raising gross proceeds of £0.30
million (US$0.41 million).

 

In parallel with the RetailBook Offer, the Company has also received
additional subscriptions (the "Additional Subscription") for a total of
6,743,627 new Ordinary Shares (the "Additional Subscription Shares") at the
Issue Price from existing shareholders, new Portuguese investors and Savannah
staff. The additional subscriptions from staff include £20,000 from Thomas
Gaultier, Savannah's Community Relations Manager, who is participating in the
Fundraise alongside other members of the Company's management team and Board
as previously announced (See Result of Accelerated Bookbuild and Subscription
RNS, 27 June 2025), including Rick Anthon (Chair), Dale Ferguson (Board
Director), Henrique Freire (CFO) and Michael McGarty (CCO).

 

The overall contribution of subscriptions, including the Additional
Subscription Shares, has now risen to £2.26 million (US$3.10 million) versus
£2.02 million (US$2.77 million) previously.

 

Consequently, in aggregate, 136,596,897 new Ordinary Shares will be issued
pursuant to the "Fundraise" (being the total of the Placing, the Subscription,
the RetailBook Offer and the Additional Subscription), raising gross proceeds,
of £4.78 million (US$6.55 million).

 

Savannah's cash position as at 27 June 2025, prior to receiving these new
funds, was £9.14 million (US$12.55 million).

 

Savannah's Chief Executive Officer, Emanuel Proença said: "It is very
pleasing to see the level of interest the retail element of Savannah's
Fundraise has received over the last few days. My sincere thanks go to all
those existing and new individual shareholders who have participated. It is
extremely satisfying that the aggregate Fundraise was so well supported by
existing shareholders and has attracted significant investment from both of
our 'core' countries, Portugal and UK, in addition to participation from
investors elsewhere.

 

"As a proud Portuguese myself, and knowing that one of our missions was to
reinforce the trust between Savannah and the Portuguese, I am very pleased
with the tremendous progress made versus the 2023 Fundraise, when only 1% of
the new share capital issued was subscribed for by Portuguese. Now with
Portuguese participation having reached more than 40%, we reiterate our
commitment of continuing to progress in this aspect.

 

"Savannah understands the trust and responsibility that is placed in our
Company by shareholders, alongside the financial investment which they choose
to make in us. This is a great inspiration for me and the team and we are
firmly focused on delivering the Project for all our stakeholders and
generating significant value in the process, whilst supplying a critical raw
material for Europe's energy transition.

 

"Importantly, when combined with our existing cash resources, the funds
Savannah has raised via this exercise gives us the financial platform from
which we can work on the Project beyond the current Definitive Feasibility
Study ('DFS'). This financial security enables us to maintain our progress and
ensure that we are well placed in the future to leverage the better lithium
prices and market conditions which are forecast, for our shareholders.

 

"With this exercise completed successfully, all our efforts can return to the
key Project workstreams and we expect to make significant progress during the
second half of 2025. We look forward to updating all our shareholders as we
advance, fulfilling the trust they have shown in us."

 

Admission to trading on AIM

The RetailBook Shares and Additional Subscription Shares, when issued, will be
credited as fully paid and rank "pari passu" with the existing Ordinary
Shares.

 

Application has been made to the London Stock Exchange for Admission of the
aggregate 15,350,493 new Ordinary Shares to be admitted to trading on AIM
("Admission") pursuant to the RetailBook Offer and Additional Subscription.
Admission is expected to become effective and dealings in the RetailBook
Shares and Additional Subscription Shares to commence at 8.00 a.m. on 4 July
2025. As noted in the announcement on 27 June 2025, the admission of the
Placing Shares and Subscription Shares to trading on AIM will commence at 8.00
a.m. on 2 July 2025.

 

Related Party Shareholdings

Following Admission, the percentage holdings of the Substantial Shareholders
who participated in the Fundraise are set out in the table below:

 

 Substantial Shareholder          Shareholding prior to Fundraise  Number of Subscription Shares and Additional Subscription Shares  Resulting Shareholding  Percentage of Ordinary Share Capital held post Admission
 AMG lithium B.V.                 342,612,420                      19,118,657                                                        361,731,077             15.66%
 Al Marjan Limited                275,762,589                      9,142,857                                                         284,905,446             12.34%
 Grupo Lusiaves SGPS, S.A.        218,785,909                      12,208,818                                                        230,994,727             10.00%
 Mário Nuno dos Santos Ferreira   217,277,421                      13,659,698                                                        230,937,119             10.00%

 

Total Voting Rights

On Admission, the total number of Ordinary Shares in issue will be
2,309,371,101 and the total number of voting rights will therefore be
2,309,371,101. This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Note

Defined terms used in this announcement shall have the same meaning as in the
Launch Announcement dated 26 June 2025 and the Result of Placing and
Subscription Announcement dated 27 June 2025 unless otherwise defined herein.

 

IMPORTANT INFORMATION

This Announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This Announcement is not
an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

 

This Announcement and the information contained herein, is restricted and is
not for publication, release or distribution, directly or indirectly, in whole
or in part, in or into Australia, Canada, the Republic of South Africa, Japan
or any other jurisdiction in which such publication, release or distribution
would be unlawful. Further, this Announcement is for information purposes only
and is not an offer of securities in any jurisdiction.

 

 

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
(https://www.savannahresources.com/) .com or contact:

 

 Savannah Resources PLC                                                         Tel: +351 963 850 959

 Emanuel Proença, CEO
 SP Angel Corporate Finance LLP (Nominated Adviser, Broker, Global coordinator  Tel: +44 20 3470 0470
 & Joint Bookrunner)

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

 Canaccord Genuity Limited (Joint Broker & Joint Bookrunner)                    Tel: +44 20 7523 8000

 James Asensio / Charlie Hammond (Corporate Broking)

 Ben Knott (Sales)
 Portugal Media Relations

 Savannah Resources: Antonio 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 (contained in c.190,000tpa of spodumene concentrate)
for approximately half a million vehicle battery packs per year and hence make
a significant contribution towards 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 environment is minimised
and the socio-economic benefits that it can bring to all its stakeholders are
maximised.

 

 

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  MSCDBGDRSSGDGUB