23 June 2020
Savannah Resources Plc
("Savannah" or the "Company")
Holding(s) in Company
Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, announces that, following a change to the underlying ownership of Slipstream Resources Investment Pty Limited ("Slipstream") the ownership of Slipstream in the issued share capital of Savannah has been reduced to 11.33% from 12.88% (the "Transaction").
The remaining Slipstream shareholders, including Dale Ferguson (Savannah's Technical Director) maintain the same beneficial interest in Savannah (i.e. there has been no sale of Savannah shares by Slipstream, just a distribution of shares in proportion to an existing shareholder's beneficial holding of shares in Savannah). The positions before and after the Transaction are summarised in the tables below:
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Slipstream Resources Investments Pty Ltd |
Situation prior to the Transaction |
Situation post Transaction |
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SAV Share Quantity |
167,250,000 |
147,180,000 |
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% of SAV's issued share capital |
12.88% |
11.33% |
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Remaining Shareholders beneficial ownership via Slipstream |
Situation prior to the Transaction |
Situation post Transaction |
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Remaining Shareholders % ownership Slipstream |
88.00% |
100.00% |
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Remaining Shareholders - Savannah Shares held indirectly through ownership in Slipstream Resources Investments Pty Ltd |
147,180,000 |
147,180,000 |
TR-1: Standard form for notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: |
Savannah Resources Plc |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) |
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2. Reason for the notification (please mark the appropriate box or boxes with an "X") |
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An acquisition or disposal of voting rights |
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An acquisition or disposal of financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify)iii: |
x |
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Change to the underlying ownership of Slipstream Resources Investment Pty Limited |
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3. Details of person subject to the notification obligationiv |
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Name |
Slipstream Resources Investments Pty Ltd |
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City and country of registered office (if applicable) |
Sydney, Australia |
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4. Full name of shareholder(s) (if different from 3.)v |
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Name |
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City and country of registered office (if applicable) |
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5. Date on which the threshold was crossed or reachedvi: |
23 June 2020 |
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6. Date on which issuer notified (DD/MM/YYYY): |
15 June 2020 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A 8.B) |
Total number of voting rights of issuervii |
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Resulting situation on the date on which threshold was crossed or reached |
11.33% |
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11.33% |
1,298,959,820 |
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Position of previous notification (if applicable) |
12.89% |
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12.89% |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rightsix |
% of voting rights |
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Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
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GB00B647W791 |
147,180,000 |
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11.33% |
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SUBTOTAL 8. A |
147,180,000 |
11.33% |
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B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash settlementxii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii |
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Full chain of controlled undertakings through which the voting rights and/or the |
X |
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Namexv |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
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Wainidiva Pty Ltd |
34.09% |
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34.09% |
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Snocomp Pty Ltd |
31.25% |
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31.25% |
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Dale John Ferguson |
31.25% |
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31.25% |
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BOMC Pty Ltd |
3.41% |
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3.41% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional informationxvi |
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Place of completion |
Sydney, Australia |
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Date of completion |
15 June 2020
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Regulatory Information
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:
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Savannah Resources PLC David Archer, CEO
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Tel: 44 20 7117 2489
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SP Angel Corporate Finance LLP (Nominated Advisor) David Hignell / Charlie Bouverat
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Tel: 44 20 3470 0470
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finnCap Ltd (Joint Broker) Christopher Raggett
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Tel: 44 20 7220 0500
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Whitman Howard (Joint Broker) Grant Barker
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Tel: 44 20 7659 1225
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St Brides Partners Ltd (Financial PR) Charlotte Page / Cosima Akerman |
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 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".
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.