TIDMSAV
RNS Number : 8287N
Savannah Resources PLC
04 October 2021
4 October 2021
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the
'Company')
Appointment of Strategic Financing Executive and Senior Investor
Relations and Media Executive
Grant of Share Options under Long-Term Incentive Plan
Savannah, the resource development company focused on becoming
Europe's most significant producer of spodumene lithium concentrate
from its Mina do Barroso Project in Portugal ("Mina do Barroso" or
the "Project"), today announces the appointment of a Strategic
Financing Executive and a Senior Investor Relations/Media Executive
to support the Company's continued growth.
Upon the recommendation of the Company's Remuneration Committee,
Savannah also announces the grant of share options under the
Company's existing long-term incentive plan (the "LTIP") which is
designed to incentivise the Company's Executive Directors,
Executive Management team and other key individuals.
Management Team Appointments
Strategic Financing Executive
The Company is pleased to announce the appointment of Sascha
Keen as a Strategic Financing Executive with immediate effect.
Sascha was previously engaged as a consultant to the Company and is
expected to be instrumental in securing project finance for Mina do
Barroso as it enters the development phase. Previously Sascha was a
Director of Debt Advisory for Noah's Rule where he led innovative
project financings in the junior mining sector and brings over 25
years' management experience spanning natural resources, commodity,
and renewable energy finance with institutions such as NM
Rothschild & Sons, Ltd. and Mitsui & Co., Ltd. Sascha holds
an MBA from ESADE Business School and is a Graduate of the
Australian Institute of Company Directors.
Senior Investor Relations and Media Executive
Furthermore, the Company is also pleased to announce the
appointment of Valérie Mella as Senior Investor Relations and Media
Executive with immediate effect. With more than 15 years' Investor
Relations experience building best-in-class practices for US,
French and Italian listed Blue-Chip companies and a UK-based asset
manager, Valérie has an extensive understanding of the financial
markets with a specialisation in the
Natural Resources sector. Valérie holds a Master's degree from Sciences-Po Paris.
Commenting, Savannah's Chief Executive Officer said: "We are
delighted that Sascha is joining us in a more formal capacity and
to welcome Valérie to the Company at such a critical juncture for
the development of Mina do Barroso. Sascha will be a key member of
the senior management team and brings a wealth of experience and
skills in mining finance to Savannah. He will be driving the
structuring and securing of core relationships and finance
solutions as we prepare for the construction of the Project. In
addition, Valérie will bring extensive IR experience from a career
that has spanned multiple industries and we are confident that her
leadership and business insight will hugely benefit Savannah going
forwards. I am confident that they will both build on the strategic
progress the Savannah team has achieved so far."
Grant of Share Options
Further to the Company's announcement on 30 of June 2021,
Savannah announces awards to Sascha Keen and Valérie Mella under
the terms of the LTIP via the grant of options over the Company's
ordinary shares ("Shares") ("Options"). The Options' duration is
eight years, with a vesting period of three years. The Options are
to be granted in two equal tranches, with all conditions identical
except for the exercise price. The exercise price on these newly
granted Options shall be as follows:
-- Tranche 1 - GBP0.0474 (4.74 pence) which represents a 20%
premium to the closing Share price on 30 September 2021; and
-- Tranche 2 - GBP0.0632 (6.32 pence) which represents a 60%
premium to the closing Share price on 30 September 2021.
Table 1 below sets out the Options which have been granted to
the Sascha Keen (via SXS Productions Sl), Valérie Mella and certain
other participants, all in accordance with the aforementioned
conditions (except for 500,000 Options which vest immediately and
the duration for which is five years). The total quantity of
Options being granted is 8,180,000 (4,090,000 under Tranche 1, and
4,090,000 under Tranche 2), which is equivalent to 0.48% of issued
Shares in the Company.
Table 1 - Summary of Options being granted
Participant Options Options Options Options Grant
Grant Quantity Grant Quantity Grant Quantity as % of issued
Tranche Tranche Total Shares in the
1 2 Company
Sascha Keen 2,845,000 2,845,000 5,690,000 0.34%
---------------- ---------------- ---------------- ----------------
Val é
rie Mella 665,000 665,000 1,330,000 0.08%
---------------- ---------------- ---------------- ----------------
Other 580,000 580,000 1,160,000 0.07%
---------------- ---------------- ---------------- ----------------
Total 4,090,000 4,090,000 8,180,000 0.48%
---------------- ---------------- ---------------- ----------------
PDMR Notification
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 1. Sascha Keen
2. Valérie Mella
----------------------- ----------------------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status 1. Strategic Financing Executive
2. Senior Investor Relations and Media Executive
----------------------- --------------------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- --------------------------------------------------------
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 Options of 4.74 pence / 6.32 pence each
of the financial
instrument, ISIN: GB00B647W791
type of instrument
Identification
code
----------------------- --------------------------------------------------------
b) Nature of the Grant of Options of 4.74 pence / 6.32 pence
transaction each pursuant to the terms of the Company's
LTIP
----------------------- --------------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1. 4.74 pence 2,845,000
---------- ---------
1. 6.32 pence 2,845,000
---------- ---------
2. 4.74 pence 665,000
---------- ---------
2. 6.32 pence 665,000
---------- ---------
----------------------- --------------------------------------------------------
d) Aggregated
information
Aggregated 3,510,000 / 3,510,000
volume
4.74 pence / 6.32 pence
Price
----------------------- --------------------------------------------------------
e) Date of the 1 October 2021
transaction(s)
----------------------- --------------------------------------------------------
f) Place of the Off-market transaction
transaction
----------------------- --------------------------------------------------------
Regulatory Information
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR .
**S**
Follow @SavannahRes on Twitter
Follow Savannah Resources on LinkedIn
For further information please visit www.savannahresources.com
or contact:
Savannah Resources PLC Tel: +44 20 7117
David Archer, CEO 2489
SP Angel Corporate Finance LLP (Nominated Tel: +44 20 3470
Advisor) 0470
David Hignell / Charlie Bouverat
finnCap Ltd (Joint Broker) Tel: +44 20 7220
Christopher Raggett / Tim Redfern 0500
WH Ireland Limited (Joint Broker) Tel: +44 20 7220
Jessica Cave/ Ben Good (Corporate Finance) 1666
Adam Pollock (Corporate Broking)
Camarco (Financial PR) Tel: +44 20 3757
Nick Hennis / Gordon Poole 4980
About Savannah
Savannah is a diversified resources group (AIM: SAV) with two
development stage projects, Mina do Barroso, 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".
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END
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