Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
3 March 2015
Savannah Resources Plc
Issue of Equity and Admission of Ordinary Shares
Savannah Resources Plc (AIM:SAV) (the "Company") has agreed the issue new ordinary shares in lieu of professional fees. A professional group providing Savannah with consulting and investing services will be issued with 2,805,589 of shares at 2.139p per share in lieu of consulting fees due in cash.
On 22 May 2014, the Company announced the issue of 5,964,100 ordinary shares (at an issue price of £0.04 each) for cash received. However admission to trading on AIM ("Admission") of 5,694,100 ordinary shares occurred and the Company is now seeking Admission of the remaining 270,000 ordinary shares in respect of the prior issue.
Application has been made for Admission of 3,075,589 ordinary shares and Admission is expected to occur at 8.00 a.m. on 6 March 2015.
Following Admission, the Company's issued share capital will be 226,612,684 ordinary shares with voting rights. This figure of 226,612,684 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer |
Savannah Resources plc |
Tel: +44 20 7389 5019 |
Samantha Harrison (Nominated Adviser) Charlie Cryer (Corporate Broker) |
RFC Ambrian Limited |
Tel: +44 20 3440 6800 |
Felicity Edwards/ Charlotte Heap |
St Brides Partners Ltd |
Tel: +44 20 7236 1177 |
