Savannah Resources PLC Result of General Meeting (7183E)
05 Noviembre 2015 - 6:51AM
UK Regulatory
TIDMSAV
RNS Number : 7183E
Savannah Resources PLC
05 November 2015
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector:
Mining
5 November 2015
Savannah Resources Plc
Result of General Meeting
Issue of Equity
Result of General Meeting
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'),
advises that all resolutions put to shareholders at its General
Meeting held today were duly passed. Accordingly the 8,839,928 new
ordinary shares of 1.0p each ('Ordinary Shares') pursuant to the
recent placing, which was announced on 19 October 2015, will now be
admitted to trading on AIM on 6 November 2015. In addition, the
5,882,353 (Tranche 2) Ordinary Shares pursuant to the cash placing
which announced on 8 October 2015 were admitted to trading on 4
November 2015.
Issue of Equity
The Company has agreed to issue new Ordinary Shares in lieu of
professional fees to several strategic service providers. These
strategic service providers will be issued with a total of
5,413,158 of shares at 2.0p per share in lieu of professional fees
due in cash (the "Professional Shares"). Application has been made
for the Professional Shares, which will rank pari passu with
existing Ordinary Shares, to be admitted to trading on AIM, with
admission expected to occur at 8.00 a.m. on 11 November 2015.
Total Voting Rights
Following the admission of the Professional Shares to trading on
AIM on 11 November 2015, the Company's total issued share capital
will consist of 285,865,770 Ordinary Shares. As such the total
number of voting rights in the Company will be 285,865,770 Ordinary
Shares. This number may be used by shareholders as the denominator
for the calculations 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 and Transparency
Rules.
**ENDS**
For further information please visit www.savannahresources.com
or contact:
David Archer Savannah Resources plc Tel: +44 20 7389
5019
David Hignell / Gerry Beaney Northland Capital Partners Tel: +44 20 7382
(Nominated Adviser) Ltd 1100
Jon Belliss / Elliot Hance Beaufort Securities Tel: +44 20 7382
(Corporate Broker) Ltd 8300
Felicity Winkles/ Charlotte St Brides Partners Ltd Tel: +44 20 7236
Heap 1177
**ENDS**
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented,
multi-commodity, exploration and development company.
Savannah has agreed to acquire 100% of Matilda Minerals Limitada
which currently operates the Jangamo exploration project, and has
agreed with Rio Tinto to form a joint venture in Mozambique to
develop the combined Mutamba/Jangamo Project. On 31 December 2014
Savannah announced maiden, 65Mt Inferred Mineral Resource @4.2%
total heavy minerals ("THM") at a 2.5% cut-off grade for Jangamo.
The Mutamba, Dongane and Chilubane deposits have a combined
exploration target of 7-12Bn tonnes at 3-4.5% THM (published in
2008).
Savannah has interests in three copper blocks in the highly
prospective Semail Ophiolite Belt in Oman. The projects, which have
an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper
and high grade intercepts of up to 56.35m at 6.21% Cu, with
additional gold upside potential, provide Savannah with an
excellent opportunity to potentially evolve into a mid-tier copper
and gold producer in a relatively short time frame. Together with
its Omani partners, Savannah aims to outline further mineral
resources to provide the critical mass for a central operating
plant to develop the deposits.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 05, 2015 07:51 ET (12:51 GMT)
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