Secondary Listing on the Frankfurt Stock Exchange
4 September 2018
Savannah Resources Plc
Secondary Listing on the Frankfurt Stock Exchange
Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) ('Savannah' or the 'Company'), the AIM quoted resource development company, is pleased to announce that it has successfully applied for a secondary listing of the Company's ordinary shares of 1p each ('Ordinary Shares') for trading on the Quotation Board Segment of the Open Market of the Frankfurt Stock Exchange ('Secondary Listing'), commencing at 9am CET, 4 September 2018. The Board believes that the Secondary Listing, which was facilitated by Steubing AG, a leading securities trading bank based in Frankfurt, will increase the Company's investor and corporate visibility in Europe, particularly in Germany, which is one of the continent's largest consumers of lithium. This is particularly relevant with regards to the Company's focus on the advancement of the Mina do Barroso Lithium Project in northern Portugal, which has already proved to be Western Europe's largest new spodumene Lithium discovery.
David Archer, Chief Executive Officer of Savannah said today, "The secondary-listing on the Frankfurt Stock Exchange will increase the Company's capital markets and corporate visibility in mainland Europe. We have a portfolio of exciting projects at various stages of development including the Mina do Barroso Lithium Project in northern Portugal, copper projects in Oman and the Mutamba Mineral Sands Project in Mozambique. Europe and particularly Germany, is a major consumer of lithium and demand fundamentals going forward remain strong. With Mina do Barroso being the largest spodumene lithium discovery in Western Europe we anticipate greater demand for Savannah's shares and this Secondary Listing will help facilitate investment by European investors in the Company.
"With the Mina do Barroso Feasibility Study currently underway, which is fully funded following our recent fundraise of £12.5 million, we remain focused on fast tracking our Portuguese project into production during 2020. We are confident that significant further upside exists, with excellent potential to increase the Mineral Resource Estimate in due course."
The Company's Ordinary Shares have been admitted to the Secondary Listing under the symbol AFM. Following the Secondary Listing, the Company's issued share capital will continue to trade on the London Stock Exchange (AIM: SAV) as well as the Börse Stuttgart (SWB: SAV).
Regulatory Information
Neither this announcement nor the information contained herein constitutes an offer or solicitation by Savannah Resources plc for the purchase or sale of any securities, nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
The Company's corporate presentation has been updated and this can be accessed on the Company's website (www.savannahresources.com).
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com or contact:
|
David Archer |
Savannah Resources plc |
Tel: +44 20 7117 2489 |
|
David Hignell / Dugald J. Carlean (Nominated Adviser) |
Northland Capital Partners Ltd |
Tel: +44 20 3861 6625 |
|
Christopher Raggett / Camille Gochez (Broker) |
finnCap Ltd |
Tel: +44 20 7220 0500 |
|
Grant Barker (Equity Adviser) |
Whitman Howard |
Tel: +44 020 7659 1225 |
|
Charlotte Page / Lottie Wadham (Financial PR) |
St Brides Partners Ltd |
Tel: +44 20 7236 1177 |
About Savannah
Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.
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: AFM, and the Börse Stuttgart (SWB) under the ticker "SAV".
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 or visit www.rns.com.
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