Business
PrimaryBid Offer increases Fundraise to £6.5m
PrimaryBid Offer increases Fundraise to £6.5m.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER FOR SALE OR SUBSCRIPTION IN RESPECT OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF SAVANNAH RESOURCES PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\nTHIS 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 AS AMENDED BY THE EUROPEAN UNION (WITHDRAWAL) ACT 2020 (\"MAR\").\n18 July 2023\nSavannah Resources Plc\n \n(AIM: SAV, FWB: SAV and SWB: SAV) (\"Savannah\" or the \"Company\")\n \nSuccessful PrimaryBid Offer increases total Fundraise to £6.5 million\n \nSavannah Resources plc, the European lithium development company is pleased to announce the successful completion of the PrimaryBid Offer that was announced on 13 July 2023.\n \nFollowing the successful completion of the non-pre-emptive Placing and Subscription on 14 July 2023, which raised gross proceeds of £6.1 million, private investors have subscribed via the PrimaryBid Offer for a total of 8,834,441 PrimaryBid Shares, raising gross proceeds of £0.4 million.\n \nConsequently, in aggregate, 139,190,084 new Ordinary Shares will be issued pursuant to the Fundraise, raising gross proceeds of £6.5 million. Following the Fundraise, Savannah will have approximately £11.4 million in cash.\n \nDale Ferguson, CEO of Savannah Resources plc, commented: \"The successful conclusion of the PrimaryBid Offer brings the gross total of our Fundraise to £6.5 million. With private investors representing a significant part of Savannah's total shareholder base, we were very keen to offer access to this Fundraise to private individuals as well as institut...