Business
Result of £6.1 million Placing & Subscription
Result of £6.1 million Placing & Subscription.
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\").\n14 July 2023\nSavannah Resources Plc\n \n(AIM: SAV, FWB: SAV and SWB: SAV) (\"Savannah\" or the \"Company\")\n \nResult of £6.1 million Placing & Subscription\n \nSavannah Resources plc, the European lithium development company is pleased to announce that further to its announcement dated 13 July 2023 (the \"Launch Announcement\"), it has successfully completed the Placing, which has now closed. The Placing took place through an accelerated bookbuilding process managed by SP Angel Corporate Finance LLP and Clarksons Securities AS.\n \nThe Company has raised, in aggregate, £6.1 million (before expenses), from £2.4 million through the Placing of 51,151,711 Placing Shares at the Issue Price of 4.67 pence per Placing Share and £3.7 million through the Subscription for 79,203,932 Subscription Shares also at the Issue Price (the \"Subscription\").\n \nThe PrimaryBid Offer remains open for individual investors until 4.30 p.m. on Monday 17 July 2023 and the result of the PrimaryBid Offer will be made as soon as practicable thereafter.\n \nDale Ferguson, CEO of Savannah Resources plc, commented: \"We are delighted by the interest and support shown in Savannah's ongoing development of the Barroso Lithium Project through the ...