REG - Savannah Resources - Result of Annual General Meeting

Savannah ResourcesAnnouncement

24/06/2024 10:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240624:nRSX5900Ta&default-theme=true

RNS Number : 5900T  Savannah Resources PLC  24 June 2024

( )

24 June 2024

 

Savannah Resources Plc

(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', 'Savannah Resources' or the
'Company')

 

Result of Annual General Meeting

 

Savannah Resources plc, the European lithium development company, is pleased
to advise that all resolutions were duly passed at its Annual General Meeting
held earlier today.

 

For information, the proxy votes received in relation to the resolutions were
as follows:

 

 RESOLUTION MATTER                                                               VOTES FOR    VOTES AGAINST  VOTES DISCRETIONARY  VOTES WITHHELD  VOTES TOTAL
 1. To receive the report of the Directors and the audited Financial Statements  751,158,061  294,600        20,000               263,784         751,736,445
 of the Company for the year ended 31 December 2023.
 2. To re-appoint Emanuel Proença as a Director of the Company.                  750,785,237  666,692        20,000               264,516         751,736,445
 3. To re-appoint Bruce Griffin as a Director of the Company.                    741,427,255  10,024,674     20,000               264,516         751,736,445
 4. To re-appoint Mohamed Sulaiman as a Director of the Company.                 746,027,228  5,424,701      20,000               264,516         751,736,445
 5. To re-appoint BDO LLP as auditors of the Company and to authorise the        750,994,606  439,331        20,000               282,508         751,736,445
 Directors to determine the remuneration of the auditors.
 6. To authorise the Directors to exercise all or any of the powers of the       640,070,592  111,187,459    20,000               458,394         751,736,445
 Company to allot equity securities up to a maximum nominal amount of
 £7,290,000.
 7. To empower the Directors to dis-apply statutory pre-emption rights up to a   639,585,383  111,711,033    20,000               420,029         751,736,445
 maximum aggregate nominal amount of £6,530,000.

 

Regulatory Information

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

 

Savannah - Enabling Europe's energy transition.

 

**ENDS**

Follow @SavannahRes on X (Formerly known as Twitter)

Follow Savannah Resources on LinkedIn

 

For further information please visit www.savannahresources.com or contact:

 

 Savannah Resources PLC                                                 Tel: +44 20 7117 2489

 Emanuel Proença, CEO
 SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)      Tel: +44 20 3470 0470

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

 SCP Resource Finance (Joint Broker)                                    Tel: +44 204 548 1765

 Filipe Martins/Chris Tonkin
 Camarco (Financial PR)                                                 Tel: +44 20 3757 4980

 Gordon Poole/ Emily Hall / Nuthara Bandara
 LPM (Portugal Media Relations)                                         Tel: +351 218 508 110

 Herminio Santos/ Jorge Coelho/ Margarida Pinheiro

 

About Savannah

Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project in northern Portugal, the largest battery
grade spodumene lithium resource outlined to date in Europe.

 

Through the Barroso Lithium Project (the 'Project'), Savannah will help
Portugal to play an important role in providing a long-term, locally sourced,
lithium raw material supply for Europe's rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May 2023 and the
Scoping Study confirmed the economic potential of the Project in June 2023,
production is now targeted and on track to begin in 2026. At that stage,
Savannah will start producing enough lithium (contained in c.190,000tpa of
spodumene concentrate) for approximately half a million vehicle battery packs
per year, equal to a significant portion of the European Commission's Critical
Raw Material Act goal of a minimum 10% of European endogenous lithium
production set for 2030. Savannah is focused on the responsible development
and operation of the Barroso Lithium Project so that its impact on the
environment is minimised and the socio-economic benefits that it can bring to
all its stakeholders are maximised.

 

In June 2024, Savannah entered a strategic partnership with AMG Critical
Materials N.V., the global critical materials business and established lithium
market participant. AMG has invested GBP 16m in Savannah in exchange for a
15.8% stake in the Company and a 5 year, 45ktpa spodumene offtake agreement.
This investment alongside existing cash provides Savannah with the finance
required to take the Project to a Final Investment Decision point. AMG can
increase its offtake to 90ktpa for 10 years if it provides an acceptable full
project funding solution for the Project's construction.

 

The Company is listed and regulated on the London Stock Exchange's Alternative
Investment Market (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".

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGFIMLTMTTTMRI