TIDMSAVE
RNS Number : 4383Z
Savannah Energy Plc
24 January 2022
24 January 2022
Savannah Energy PLC
("Savannah", the "Company" or the "Group")
Result of General Meeting ("GM") and Total Voting Rights
("TVR")
Savannah Energy PLC, the British independent energy company
focused around the delivery of Projects that Matter in Africa,
announces it held a general meeting at 10.30 a.m. today to approve,
inter alia, the Exxon Acquisition and the PETRONAS Acquisition, and
the allotment of, inter alia, the EBT Shares and the Warrant
Shares. In total, there were 10 resolutions proposed and the
Company is pleased to announce that all 10 resolutions proposed
were duly passed by way of a poll of the requisite majority. The
votes received in relation to the resolutions were as follows:
No. Resolution For For Against Against Withheld
*indicates (No. of (No. of (No. of
special resolution shares) (%) shares) (%) shares)
-------------------- ------------ ------- ------------ -------- ------------
Approve Exxon
1 Acquisition 876,994,633 100.00 600 0.00 175,000
-------------------- ------------ ------- ------------ -------- ------------
Approve PETRONAS
2 Acquisition 876,995,233 100.00 0 0.00 175,000
-------------------- ------------ ------- ------------ -------- ------------
Allot Ordinary
3 Shares 876,146,323 99.90 843,190 0.10 180,720
-------------------- ------------ ------- ------------ -------- ------------
Allot the EBT
4 Shares 626,325,518 83.34 125,229,929 16.66 125,614,786
-------------------- ------------ ------- ------------ -------- ------------
Allot the Warrant
5 Shares 874,677,773 99.74 2,311,740 0.26 180,720
-------------------- ------------ ------- ------------ -------- ------------
Allot the new
6 Ordinary Shares 743,387,003 98.83 8,834,209 1.17 124,949,021
-------------------- ------------ ------- ------------ -------- ------------
Pre-emption
7 Rights* 868,100,906 99.06 8,222,842 0.94 846,485
-------------------- ------------ ------- ------------ -------- ------------
Pre-emption
8 Rights - EBT* 626,297,120 83.33 125,258,327 16.67 125,614,786
-------------------- ------------ ------- ------------ -------- ------------
9 Warrant Shares* 871,699,375 99.47 4,624,373 0.53 846,485
-------------------- ------------ ------- ------------ -------- ------------
10 Ordinary Shares* 743,358,605 98.91 8,196,842 1.09 125,614,786
-------------------- ------------ ------- ------------ -------- ------------
NOTES:
1. All resolutions were passed.
2. Proxy appointments which gave discretion to the Chairman
of the GM have been included in the "For" total for
the appropriate resolution.
3. A "Vote withheld" is not a vote in law and is not counted
in the calculation of the percentage of shares voted
"For" or "Against" any resolution.
4. The number of shares in issue at 6:00 p.m. on 20 January
2022 was 1,248,031,868 (the "Share Capital") and at
that time, the Company did not hold any shares in treasury.
Further details on the Resolutions, and the remaining conditions
to Completion, are contained in the Company's AIM Admission
Document published on 30 December 2021 ("Admission Document"),
which is available on the Company's website.
Following allotment of the EBT Shares, which is expected later
this week, application will be made for the EBT Shares (which
consists of 58,066,951 new Ordinary Shares) to be admitted to
trading on AIM, which such admission expected to take place on or
around 4 February 2022.
Following admission of the EBT Shares, the Company will have
1,306,098,819 Ordinary Shares in issue. The Company does not hold
any Ordinary Shares in treasury and accordingly this will be the
total number of voting rights in the Company and may be used by
Shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or
change to their interest in, the Company under the FCA's Disclosure
Rules and the Transparency Rules.
Unless otherwise defined, capitalised terms in this announcement
have the same meaning ascribed to them in the Company's Admission
Document.
For further information, please contact:
+44 (0) 20 3817
Savannah Energy 9844
Andrew Knott, CEO
Nick Beattie , Interim CFO
Sally Marshak, Head of IR & Communications
+44 (0) 20 7409
Strand Hanson (Nominated Adviser) 3494
James Spinney
Ritchie Balmer
Rob Patrick
finnCap Ltd (Joint Broker)
Christopher Raggett +44 (0) 20 7220
Tim Redfern 0500
Panmure Gordon (UK) Ltd (Joint Broker)
John Prior
Hugh Rich +44 (0) 20 7886
James Sinclair-Ford 2500
+44 (0) 20 3757
Camarco 4983
Billy Clegg
Owen Roberts
Violet Wilson
About Savannah Energy:
Savannah Energy PLC is an AIM listed British independent energy
company focused around the delivery of Projects that Matter in
Africa. In Nigeria, the Company has controlling interests in the
cash flow generative Uquo and Stubb Creek oil and gas fields, and
the Accugas midstream business in South East Nigeria, which
provides gas enabling over 10% of Nigeria's thermal power
generation. In Niger, the Company has licence interests covering
approximately 50% of the highly oil prolific Agadem Rift Basin of
South East Niger, where the Company has made five oil discoveries
and seismically identified a large exploration prospect inventory
consisting of 146 exploration targets to be considered for
potential future drilling activity. The Company has announced that
it is in the process of acquiring a portfolio of upstream and
midstream assets in Chad and Cameroon.
Further information on Savannah Energy PLC can be found on the
Company's website: www.savannah-energy.com .
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END
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(END) Dow Jones Newswires
January 24, 2022 11:56 ET (16:56 GMT)
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