Business
Equity Incentive Plan – Update
Savannah Resources PLC announced an update to its Equity Incentive Plan, revealing that the CEO, Emanuel Proença, will receive 50% of his 2024 bonus in share options rather than cash. The company will issue 3,100,000 options at a nominal cost, valued at GBP 0.0372 per unit using the Black-Scholes model, consistent with previous LTIP options. These options vest immediately and have a five-year duration. Additionally, 11.2 million legacy options, representing approximately 11% of outstanding options, which were held in abeyance pending formal approval of the new Equity Incentive Plan, have been granted without vesting performance conditions. Disclaimer*
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n29 September 2025\n \nSavannah Resources Plc\n(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the 'Company')\n \nEquity Incentive Plan - Update\nCEO elects to receive bonus in Options rather than cash and update on Equity Incentive Plan\n \nSavannah Resources plc, the developer of the Barroso Lithium Project (the 'Project') in Portugal, one of the European Commission's 'Strategic Projects' under the Critical Raw Materials Act and Europe's largest spodumene lithium deposit, announces that upon the recommendation of the Company's Nomination and Remuneration Committee it has granted share options over the Company's ordinary shares (\"Options\") under the short-term incentive plan (the \"STIP\") component of the Company's Equity Incentive Plan (announced on 28 July 2025) which is designed to incentivise the Company's Executive Leadership and other key individuals (together, the \"Participants\").\n \nCEO bonus in form of Options rather than cash\n \nThe Board has considered a proposal to settle the unpaid 50% of Mr. Emanuel Proença's 2024 cash bonus through the issuance of nominal cost Options of equivalent value. This proposal aligns with the parameters approved by the Board for the STIP component of the Equity Incentive Plan, under which 50% of bonuses for all Participants from 2025 onwards will be settled via nominal cost options.\n \nThis approach reflects the Company's strategic focus on preserving liquidity, while reinforcing long-term alignment between executive performance and shareholder value. By opting to settle part of the CEO's bonus through equity rather than cash, the Company strengthens its capital position and demonstrates prudent financial management. Moreover, it highlights Mr. Proença's continued commitment to the Company's future success, as he accepts compensation in the form of equity, directly tying his interests to those of shareholders. This decision is consistent with the broader remuneration framework adopted for 2025 onwards, which aims to incentivise performance while ensuring sustainability and transparency in executive compensation.\n \nKey Details:\n1. Number of Options to be issued: 3,100,000.\n2. Valuation Basis: Black-Scholes Value per Unit of GBP 0.0372, being the same as utilised in the Options issued und...