Capital Access Window – Trading Halt
Summary by AI BETAClose X
21 September 2026
This Announcement contains inside information for the purposes of Article 14 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 ("UK MAR"). In addition, market soundings (as defined in UK MAR) were taken in respect of certain of the matters contained in this Announcement, with the result that certain persons became aware of such inside information, as permitted by UK MAR. Upon the publication of this Announcement, this inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information.
Savannah Resources Plc
(AIM: SAV) (‘Savannah’, or the ‘Company’)
Capital Access Window – Trading Halt
Savannah Resources Plc, the developer of the Barroso Lithium Project (the 'Project') in Portugal, a 'Strategic Project' under the European Critical Raw Materials Act, announces its intention to utilise AIM’s new Capital Access Window rule in connection with a proposed equity capital raise (the “Proposed Fundraise”).
Intention to undertake an equity capital raise for ongoing project development
Savannah has made significant progress with the Barroso Lithium Project in the year to date, including the award of an up to €110m non-reimbursable grant from the Portuguese State and the completion of the Phase 1 Definitive Feasibility Study (‘DFS’). The DFS confirmed the strong economics of the Project based on an initial 14 year life producing 183ktpa of 5.5% Li2O spodumene concentrate which included generating US$3.2Bn EBITDA, US$1.9Bn free cash flow, unlevered Post-tax NPV8 of US$913m, post-tax IRR of 43% and a Post-tax payback period of 1.9 years.
The Proposed Fundraise would supplement the Company’s existing cash reserves (GBP 17.1m at 30 June 2026) in order to continue the development of the Project towards production. The proposed increase to Savannah’s cash reserves would allow the Company to advance the Project to Final Investment Decision, secure critical Long Lead Items, deliver key milestones ahead of construction, maintain the Project’s timeline and provide appropriate contingency and schedule buffers to mitigate execution risk.
Use of AIM’s Capital Access Window rule
Following the updates to the AIM Rules for Companies announced in August 2026, to support the Proposed Fundraise, the Company will enter a Capital Access Window with effect from 7.30am BST today. This is a voluntary temporary pause in the trading of the Company’s shares on AIM to make it easier to reach a broader range of investors during a fundraise. If undertaken, the Company intends to include an offer to ‘retail’ investors as part of the Proposed Fundraise. The Capital Access Window will remain in place until a further announcement is made detailing the results of the Proposed Fundraise.
This announcement does not constitute an offer of securities in any jurisdiction. The Proposed Fundraise, if implemented, will be the subject of further announcements, which will include the material terms and conditions of the Proposed Fundraise.
Savannah – Enabling Europe’s energy transition.
**ENDS**
Follow Savannah Resources on LinkedIn
For further information please visit www.savannahresources.com or contact:
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Savannah Resources PLC Emanuel Proença, CEO Asa Bridle, Investor Relations António Neves Costa, Media Relations
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Tel: +351 963 850 959 Tel: +44 207 117 2489 Tel: +351 962 678 912 |
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SP Angel Corporate Finance LLP (Joint Global Co-ordinator, Nominated Advisor & Joint Broker) David Hignell / Charlie Bouverat (Corporate Finance) Grant Barker /Abigail Wayne (Sales & Broking)
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Tel: +44 20 3470 0470
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Canaccord Genuity Limited (Joint Global Co-ordinator & Joint Broker) James Asensio / Rory Blundell / Charlie Hammond (Corporate Broking) Ben Knott (Sales)
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Tel: +44 20 7523 8000
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Alantra Equities, SV, S.A. (Joint Global Co-ordinator) |
Tel: +34 91 550 8708 |
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Andre Pereira / Oscar Sanchez / Diogo Cabral (Equity Capital Markets) Pedro Garnica (Sales)
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CaixaBank S.A. (Joint Global Co-ordinator) Íñigo Bastarrica / Ignacio Peña / Pablo Rodríguez-Guanter (Equity Capital Markets) José Rito / Sergio Godinho (Sales) |
Tel: +34 68 341 5713 |
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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 and was approved for a Portuguese State development Grant of up to €110m in January 2026.
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.183,000tpa 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.
The Company is listed and regulated on the AIM Market of the London Stock Exchange and trades under the ticker "SAV".
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