Business
Issue of Shares - Portuguese Acquisition
Issue of Shares - Portuguese Acquisition.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7686G Savannah Resources PLC 01 June 2017 \n\n \nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n \n1 June 2017\nSavannah Resources Plc\nIssue of Shares in connection with Portuguese Acquisition \n \nSavannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), announces that, pursuant to the terms of the transaction between the Company and a consortium of vendors led by Slipstream Resources Investments Pty Ltd (the 'Vendors'), for the acquisition of various mining and exploration assets within the territory of Portugal (as announced by the Company on 25 May 2017), the Company will now issue 20,000,000 ordinary shares of 1p each in the Company ('Ordinary Shares') at an issue price of 6.5p (being the Company's closing price on 31 May 2017) (the 'Consideration Shares') to the Vendors.\n \nDetails of Consideration Share Issue\n \nApplication will be made for the Consideration Shares, which will rank pari passu with the existing Ordinary Shares in the Company, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 6 June 2017. The Consideration Shares shall be held in escrow for six months from their date of issue.\n \nFollowing Admission, the Company's total issued share capital will consist of 534,540,089 Ordinary Shares. As such, the total number of voting rights in the Company will be 534,540,089 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest, in the Company under the FCA's Disclosure and Transparency Rules.\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.\n \n**ENDS**\nFor further information please visit www.savannahresources.com or contact:\n \n\n\n\n\nDavid Archer\n\n\nSavannah Resources plc\n\n\nTel: +44 20 7117 2489\n\n\n\n\nDavid Hignell / Gerry Beaney (Nominated Adviser)\n\n\nNorthland Capital Partners Ltd\n\n\nTel: +44 20 3861 6625\n\n\n\n\nJon Belliss / Elliot Hance\n(Corporate Broker)\n\n\nBeaufort Securities Ltd\n\n\nTel: +44 20 7382 8300\n\n\n\n\nCharlotte Page / \nLottie Brocklehurst\n(Financial PR)\n\n\nSt Brides Partners Ltd\n\n\nTel: +44 20 ...