19 August 2024
Savannah Resources
Plc
(AIM: SAV, FWB: SAV and SWB:
SAV) ('Savannah', or the
'Company')
Notification of Major
Shareholding
Savannah Resources Plc, the
developer of the Barroso Lithium Project (the 'Project') in
Portugal, Europe's largest spodumene lithium deposit,
announces that it has received the following TR-1
notification in relation to an acquisition of shares by Grupo
Lusiaves SGPS, S.A., presented below.
TR-1: Notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible)
i
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1a.
Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached ii:
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Savannah
Resources Plc
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1b.
Please indicate if the issuer is a non-UK
issuer (please mark with an
"X" if appropriate)
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Non-UK issuer
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2.
Reason for the notification (please
mark the appropriate box or boxes with an "X")
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An acquisition or disposal of voting
rights
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X
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An acquisition or disposal of
financial instruments
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An event changing the breakdown of
voting rights
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Other (please specify)
iii:
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3.
Details of person subject to the notification
obligation iv
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Name
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Grupo Lusiaves SGPS, S.A.
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City and country of registered office
(if applicable)
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Figueira da Foz, Portugal
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4.
Full name of shareholder(s) (if
different from 3.) v
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Name
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City and country of registered office
(if applicable)
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5.
Date on which the threshold was crossed or reached
vi:
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15/08/2024
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6.
Date on which issuer notified (DD/MM/YYYY):
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19/08/2024
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7.
Total positions of person(s) subject to the notification
obligation
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% of
voting rights attached to shares (total of 8. A)
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% of
voting rights through financial instruments
(total of 8.B 1 + 8.B 2)
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Total of
both in % (8.A + 8.B)
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Total number of voting rights held in
issuer (8.A + 8.B) vii
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Resulting situation on the date on
which threshold was crossed or reached
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4.035516
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0.00
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4.035516
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87,682,661
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Position of previous notification
(if
applicable)
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3.035
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0.00
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3.035
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8.
Notified details of the resulting situation on the date on which
the threshold was crossed or reached
viii
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A:
Voting rights attached to shares
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Class/type of
shares
ISIN code (if possible)
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Number of voting rights ix
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% of
voting rights
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Direct
(DTR5.1)
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Indirect
(DTR5.2.1)
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Direct
(DTR5.1)
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Indirect
(DTR5.2.1)
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GB00B647W791
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87,682,661
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4.035516
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SUBTOTAL 8. A
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87,682,661
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4.035516
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B 1:
Financial Instruments according to DTR5.3.1R (1)
(a)
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Type
of financial instrument
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Expiration
date x
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Exercise/
Conversion Period xi
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Number of voting rights that may be acquired if the instrument
is
exercised/converted.
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% of
voting rights
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SUBTOTAL 8. B 1
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B 2:
Financial Instruments with similar economic effect according to
DTR5.3.1R (1) (b)
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Type
of financial instrument
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Expiration
date x
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Exercise/
Conversion Period xi
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Physical or cash
Settlement xii
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Number of voting rights
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% of
voting rights
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SUBTOTAL 8.B.2
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9.
Information in relation to the person subject to the notification
obligation (please mark
the
applicable box with an
"X")
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Person subject to the notification
obligation is not controlled by any natural person or legal entity
and does not control any other undertaking(s) holding directly or
indirectly an interest in the (underlying) issuer
xiii
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X
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Full chain of
controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held starting with the
ultimate controlling natural person or legal entity (please add
additional rows as necessary) xiv
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Name
xv
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% of voting rights if it
equals or is higher than the notifiable threshold
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% of voting rights through
financial instruments if it equals or is higher than the notifiable
threshold
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Total of both if it equals or
is higher than the notifiable threshold
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10.
In case of proxy voting, please identify:
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Name of the proxy holder
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The number and % of voting rights
held
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The date until which the voting
rights will be held
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11.
Additional information xvi
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Place of completion
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Figueira da Foz, Portugal
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Date
of completion
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19/08/2024
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Savannah - Enabling Europe's energy
transition.
**ENDS**
Follow @SavannahRes on X
Follow
Savannah Resources on LinkedIn
For further information please
visit www.savannahresources.com
or contact:
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Savannah Resources PLC
Emanuel Proença, CEO
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Tel: +44 20 7117 2489
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SP
Angel Corporate Finance LLP (Nominated Advisor & Joint
Broker)
David Hignell/ Charlie Bouverat
(Corporate Finance)
Grant Barker/Abigail Wayne (Sales
& Broking)
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Tel: +44 20 3470 0470
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SCP
Resource Finance (Joint Broker)
Filipe Martins/Chris
Tonkin
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Tel: +44 204 548 1765
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Camarco (Financial PR)
Gordon Poole/ Emily Hall / Nuthara
Bandara
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Tel: +44 20 3757 4980
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LPM
(Portugal Media Relations)
Herminio Santos/ Jorge Coelho /
Margarida Pinheiro
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Tel: +351 218 508 110
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About Savannah
Savannah Resources is a mineral
resource development company and the sole owner of the Barroso
Lithium Project in northern Portugal, the largest battery grade
spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project
(the 'Project'), Savannah will help Portugal to play an important
role in providing a long-term, locally sourced, lithium raw
material supply for Europe's rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May
2023 and the Scoping Study confirmed the economic potential of the
Project in June 2023, production is now targeted and on track to
begin in 2026. At that stage, Savannah will start producing enough
lithium (contained in c.190,000tpa of spodumene concentrate) for
approximately half a million vehicle battery packs per year, equal
to a significant portion of the European Commission's Critical Raw
Material Act goal of a minimum 10% of European endogenous lithium
production set for 2030. Savannah is focused on the responsible
development and operation of the Barroso Lithium Project so that
its impact on the environment is minimised and the socio-economic
benefits that it can bring to all its stakeholders are
maximised.
In June 2024, Savannah entered a
strategic partnership with AMG Critical Materials N.V., the global
critical materials business and established lithium market
participant. AMG has invested GBP 16m in Savannah in exchange for a
15.8% stake in the Company and a 5 year, 45ktpa spodumene offtake
agreement. This investment alongside existing cash provides
Savannah with the finance required to take the Project to a Final
Investment Decision point. AMG can increase its offtake to 90ktpa
for 10 years if it provides an acceptable full project funding
solution for the Project's construction.
The Company is listed and regulated
on the London Stock Exchange's Alternative Investment Market (AIM)
and the Company's ordinary shares are also available on the
Quotation Board of the Frankfurt Stock Exchange (FWB) under the
symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker
"SAV".