Business
Exercise of Options & Warrants & PDMR Notification
Exercise of Options & Warrants & PDMR Notification.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1930V Savannah Resources PLC 19 July 2018 \n\n \n19 July 2018 \nSavannah Resources Plc\nExercise of Options and Warrants and PDMR Notification\n \nSavannah Resources plc (AIM: SAV) ('Savannah' or the 'Company'), the AIM quoted resource development company announces that it has issued 19,382,888 ordinary shares in the Company of par value £0.01 ('Ordinary Shares') following the exercise of options ('Options') and warrants ('Warrants') over Ordinary Shares as summarised below.\n \nThe majority of the Options and Warrants have been exercised by David Archer, Dale Ferguson, and Michael McGarty who are considered to be persons discharging managerial responsibilities for the purpose of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014). \n \nMr. Archer has exercised Warrants over 11,111,112 Ordinary Shares at £0.03 each. Mr. Ferguson has exercised Options over 5,321,776 Ordinary Shares at £0.03 each. Mr. McGarty has exercised Options over 1,200,000 Ordinary Shares at £0.0462 each and Options over 1,500,000 Ordinary Shares at £0.03 each.\n \nAdmission and Total Voting Rights\n \nPursuant to the exercise of the Options and Warrants, application will be made for 19,382,888 new Ordinary Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to AIM ('Admission'). It is expected that Admission will become effective and dealings will commence at 8:00am on or around 24 July 2018. \n \nFollowing the exercise, the percentage holding of Messrs. Archer, Ferguson, and McGarty will increase as per the table below:\n \n\n\n\nDirector/PDMR \n\n\nOrdinary Shares issued pursuant to Option/Warrant Exercise\n\n\nBeneficial Holding Following Admission\n\n\nPercentage of Ordinary Shares Following Admission\n\n\n\n\nDavid Archer\n\n\n11,111,112\n\n\n42,756,649\n\n\n5.03% \n\n\n\n\nDale Ferguson \n\n\n5,321,776\n\n\n13,837,854\n\n\n1.63% \n\n\n\n\nMichael McGarty \n\n\n2,700,000\n\n\n2,795,238\n\n\n0.33% \n\n\n\n \nFollowing Admission, the total issued share capital of the Company will consist of 850,205,684 Ordinary Shares. As such, the total number of voting rights in the Company will be 850,205,684 Ordinary Shares. This number may be used by shareholders as the denominator for the calculation...