Total Fundraise of US$40 million
Summary by AI BETAClose X
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (“UK MAR”).
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.
25 September 2026
Savannah Resources Plc
(AIM: SAV) (‘Savannah’, or the ‘Company’)
Total Fundraise of US$40 million
Result of Retail Offer and Restoration of Trading
Savannah, the developer of the Barroso Lithium Project in Portugal, a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit, announced on 22 September 2026 the launch of a fundraising comprising a Placing and Subscription in conjunction with a Retail Offer.
The Company is pleased to announce that the Retail Offer successfully completed and closed at 5.00 p.m. on 24 September 2026 and that it has conditionally raised £2,192,628 in the Retail Offer through the issue of 39,865,966 new Ordinary Shares at the Issue Price of 5.5 pence per share.
As a result of the Retail Offer, substantial shareholders, AMG Lithium B.V. and Telmory LDA have subscribed for 8,937,380 and 5,741,429 additional Subscription Shares respectively to ensure their percentage shareholdings in the Company are maintained on completion of the Fundraise. Further subscriptions have also been received from other parties including £20,000 from Rick Anthon, the Company’s Chair, altogether resulting in 17,562,356 additional Subscription Shares, bringing the total number of Subscription Shares to 189,660,099 conditionally raising approximately £10,431,305 via the Subscription.
Following the close of the Placing, the Retail Offer and the Subscription, the Company has conditionally raised gross proceeds of £30,088,587 (US$40,225,384) at the Issue Price via the Fundraising. The Company will therefore be required to issue and allot a total of 547,065,215 new Ordinary Shares to satisfy the aggregate demand of the Fundraise.
Savannah's Chief Executive Officer, Emanuel Proença said: "The level of interest shown in the Fundraise by hundreds of new and existing private investors through the Retail Offer is great to see and all at Savannah are extremely grateful for this support. The diversity in our shareholder base, from large institutions to private shareholders, spread across multiple countries demonstrates the wide levels of interest that exist in the development of the Barroso Lithium Project. The Savannah team and I are committed to creating further value for all our shareholders through the delivery of this exciting Project.
"The US$2.9 million invested through the Retail Offer takes total gross proceeds from the Fundraise to US$40.2 million. These funds, coupled with our existing cash and short term treasuries, give Savannah reserves of over US$53.0 million providing the financial strength to move with even greater purpose towards the start of construction next year."
Substantial Shareholder and PDMR Subscriptions
Following Admission, the percentage holdings of substantial shareholders, Board Directors and senior management who participated in the Fundraise are set out below:
|
Substantial shareholder / PDMR
|
Pre-Fundraise shareholding |
Total number of Subscription Shares* |
Resultant shareholding in the Company |
Resultant percentage interest in the Company |
|
AMG Lithium B.V. |
400,808,711 |
85,137,949 |
485,946,660 |
15.56% |
|
Al Marjan |
278,405,446 |
3,400,000 |
281,805,446 |
9.02% |
|
Pluris Investments S.A. |
269,747,505 |
41,818,181 |
311,565,686 |
9.98% |
|
Telmory LDA |
257,482,019 |
54,693,150 |
312,175,169 |
10.00% |
|
Board Director / Senior Management |
|
|||
|
Rick Anthon |
1,264,962 |
363,636 |
1,628,598 |
0.05% |
|
Henrique Freire |
3,420,050 |
272,727 |
3,692,777 |
0.12% |
* Inclusive of additional Subscription Shares issued following the completion of the Retail Offer, to ensure their percentage shareholdings are maintained on completion of the Fundraise.
The 317,539,150 Placing Shares, together with the 189,660,099 Subscription Shares and the 39,865,966 Retail Offer Shares, will be admitted to trading on AIM on 28 September 2026 (“Admission”).
Capital Access Window and Restoration of Trading
As detailed in the Company's announcement of 21 September 2026, the Company entered a Capital Access Window at 7:30 a.m. BST on 21 September 2026, in order to reach a broader range of investors during the Fundraise.
Following the results of the Retail Offer, the Capital Access Window has now closed and normal trading in the Company's existing Ordinary Shares is expected to resume at 7:30 a.m. BST on 25 September 2026.
Admission and Total Voting Rights
The Retail Offer Shares and additional Subscription Shares 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 the 39,865,966 Retail Offer Shares and 189,660,099 Subscription Shares to be admitted to trading on AIM. Admission is expected to take place and dealings in the Shares are expected to commence at 8.00 a.m. on 28 September 2026, at which time it is also expected that the Shares will be enabled for settlement in CREST.
Immediately following Admission, the issued share capital of the Company is expected to comprise 3,122,514,914 Ordinary Shares. Each Ordinary Share has one voting right and no Ordinary Shares are held in treasury. From Admission, this figure may be used by Shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Enquiries:
|
Savannah Resources Plc Emanuel Proença, CEO Asa Bridle, Investor Relations António Neves Costa, Media Relations |
+351 963 850 959 +44 207 117 2489 +351 962 678 912
|
|
RetailBook Limited Nick Smith / James Deal
|
|
|
SP Angel Corporate Finance LLP, Nominated Adviser David Hignell / Charlie Bouverat (Corporate Finance) Grant Barker / Abigail Wayne (Sales & Broking) |
+44 20 3470 0470 |
Notes:
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the Launch Announcement released on 22 September 2026.
References to times in this Announcement are to London time unless otherwise stated.
The times and dates mentioned throughout this Announcement may be adjusted by the Company in which event the Company will make an appropriate announcement to a Regulatory Information Service giving details of any revised dates and the details of the new times and dates will be notified to London Stock Exchange plc (the “London Stock Exchange”) and, where appropriate, Shareholders. Shareholders may not receive any further written communication.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name: |
Rick Anthon |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position/status: |
Chair |
||||
|
b) |
Initial notification/Amendment: |
Initial Notification |
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|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name: |
Savannah Resources Plc |
||||
|
b) |
LEI: |
213800UCK16HW5KKGP60 |
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|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. |
|||||
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of £0.01 each
ISIN: GB00B647W791 |
||||
|
b) |
Nature of the transaction: |
Subscription for Subscription Shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transactions as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
25 September 2026 |
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|
f) |
Place of the transaction: |
Outside a trading venue |
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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.
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