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 of the Company for
the year ended 31 December 2023.
|
751,158,061
|
294,600
|
20,000
|
263,784
|
751,736,445
|
|
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 Directors to determine the
remuneration of the auditors.
|
750,994,606
|
439,331
|
20,000
|
282,508
|
751,736,445
|
|
6. To authorise the Directors to
exercise all or any of the powers of the Company to allot equity
securities up to a maximum nominal amount of £7,290,000.
|
640,070,592
|
111,187,459
|
20,000
|
458,394
|
751,736,445
|
|
7. To empower the Directors to
dis-apply statutory pre-emption rights up to a maximum aggregate
nominal amount of £6,530,000.
|
639,585,383
|
111,711,033
|
20,000
|
420,029
|
751,736,445
|
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
Emanuel Proença, CEO
|
Tel: +44 20 7117 2489
|
|
SP Angel
Corporate Finance LLP (Nominated Advisor & Joint
Broker)
David Hignell/ Charlie Bouverat (Corporate
Finance)
Grant Barker/Abigail Wayne (Sales &
Broking)
|
Tel: +44 20 3470 0470
|
|
SCP Resource
Finance (Joint Broker)
Filipe Martins/Chris Tonkin
|
Tel: +44 204 548 1765
|
|
Camarco
(Financial PR)
Gordon Poole/ Emily Hall / Nuthara
Bandara
|
Tel: +44 20 3757 4980
|
|
LPM (Portugal
Media Relations)
Herminio Santos/ Jorge Coelho/
Margarida Pinheiro
|
Tel: +351 218 508 110
|
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".