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: [phone]
SP Angel Corporate Finance LLP (Nominated Advisor) David Hignell / Charlie Bouverat	Tel: [phone]
finnCap Ltd (Joint Broker) Christopher Raggett	Tel: [phone]
WH Ireland Limited (Joint Broker) James Joyce/ Matt Chan (Corporate Finance) Adam Pollock/ Jasper Berry (Corporate Broking)	Tel: [phone]
Camarco (Financial PR) Gordon Poole / Nick Hennis	Tel: [phone]

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".

 

END

 

 

DSHKZMFMLGZGGZM