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Savannah Resources (SAV)

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Tuesday 01 December, 2020

Savannah Resources

PDMR Notification of Director Dealings

RNS Number : 0161H
Savannah Resources PLC
01 December 2020
 

 

 

1 December 2020

 

Savannah Resources Plc

('Savannah' or the 'Company')

 

PDMR Notification of Director Dealings

 

Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV), the resource development company, announces it has received notification that David Archer, Savannah's CEO, has disposed of a total of 2.0 million ordinary shares of 1p each in the Company ("Ordinary Shares") (the "Transaction").

Following the Transaction David Archer holds 39,756,649 Ordinary Shares representing 2.78% of the Company's issued share capital and David's net cash investment in Savannah's issued share capital amounts to £1.12 million.

The rationale for the Transaction was because the CEO owns a hotel business in Europe that has suffered financially from the impact to tourism from COVID19 and has required funding. Mr Archer has indicated to the Board that he has no present intention to sell further Ordinary Shares.

 

Regulatory Information

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

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

David Archer

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

 

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Savannah Resources Plc

b)

LEI

213800UCK16HW5KKGP60

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

Sale of Ordinary Shares

c)

Price(s) and volume(s)

Quantity

Sale price

1,250,000

250,000

500,000

£0.0256

£0.025

£0.0254

d)

Aggregated information

- Aggregated volume

- Price

 

 

2,000,000

£0.0255

e)

Dates of the transaction

26 November 2020, 27 November 2020, and 30 November 2020

f)

Place of the transaction

Off market transaction

 

**ENDS**

 

For further information please visit www.savannahresources.com or contact:

 

Savannah Resources PLC

David Archer, CEO

 

 

Tel: +44 20 7117 2489

 

SP Angel Corporate Finance LLP (Nominated Advisor)

David Hignell / Charlie Bouverat

 

 

Tel: +44 20 3470 0470

 

 

finnCap Ltd (Joint Broker)

Christopher Raggett

 

 

Tel: +44 20 7220 0500

 

WH Ireland Limited (Joint Broker)

James Joyce/ Matt Chan (Corporate Finance)

Adam Pollock/ Jasper Berry (Corporate Broking)

 

Tel: +44 20 7220 1698

 

 

Camarco (Financial PR)

Gordon Poole / Nick Hennis

Tel: +44 20 3757 4890

 

About Savannah

 

Savannah is a diversified resources group (AIM: SAV) with two development stage projects, a hardrock lithium project in Portugal which has the largest spodumene lithium resource in Europe, and 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 the communities we work with and our staff.

 

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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