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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January 24, 2022 11:56 ET (16:56 GMT)

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