TIDMSAV
RNS Number : 5592H
Savannah Resources PLC
07 April 2022
7 April 2022
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the
'Company')
Board Changes
Appointment of Mary Jo Jacobi (Independent Non-Executive
Director) and Manohar Pundalik Shenoy (Non-Executive Director) to
the Savannah Board
Retirement of Maqbool Ali Sultan (Director) and Murtadha Ahmed
Sultan (Alternate Director)
Savannah Resources plc, the European lithium development
company, is pleased to announce the appointments of Mary Jo Jacobi
and Manohar Pundalik Shenoy as non-executive directors effective
from 7 April 2022. Previously Mr Shenoy acted as alternate director
for Maqbool Ali Sultan effective from July 2016.
Ms. Mary Jo Jacobi on joining the Company as an independent
non-executive director will become a member of the Remuneration and
Audit and Risk Committees. Manohar Pundalik Shenoy will continue to
serve as a member of the Remuneration and Audit and Risk
Committees.
Savannah also advises that both Maqbool Ali Sultan
(non-executive director) and Murtadha Ahmed Sultan who served as an
alternate director for Imad Kamal Abdul Redha Sultan since July
2016 have retired from the Board effective from 7 April 2022.
Matthew King, Savannah's Chairman said: "I am delighted to
welcome Mary Jo Jacobi and Manohar Shenoy to the Board. Mary Jo is
a doyenne of the ESG movement and will oversee Savannah's ESG
programme going forward. She also has a wealth of relevant industry
expertise via her past roles with Shell and BP and her current
position at the Weir Group. Manohar has provided very valuable
support and guidance to us over a number of years now in his role
as alternate director to Maqbool Sultan and his memberships of our
Audit and Risk and Remuneration Committees. It is therefore very
fitting that he should now become a full Board member."
"I would also like to record the Board's gratitude to the
contributions made over the last six years by Messrs Maqbool Ali
Sultan and Murtadha Ahmed Sultan who are stepping down as director
and alternate director, respectively. Maqbool's skills and
experience have seen him recently appointed to the Board of
Governors of the Central Bank of Oman."
Ms Mary Jo Jacobi is a business strategy and reputation
management consultant with considerable experience advising clients
in the natural resources industries. She is also the non-executive
director for focussing on employee engagement of The Weir Group
plc. Mary Jo has held senior executive positions with BP America,
Royal Dutch Shell, Lehman Brothers, HSBC Holdings, and Drexel
Burnham Lambert. In the public sector she was appointed a member of
the UK Advisory Committee on Business Appointments, one of Her
Majesty's Civil Service Commissioners, Assistant United States
Secretary of Commerce, and Special Assistant to US President Ronald
Reagan. She also has been a non-executive director of Mulvaney
Capital Management, Tate and Lyle plc and the Ladies European
(Golf) Tour and chair of the Ladies Professional Golf
Association.
Mary Jo Jacobi, Savannah's new non-executive director said: "It
will be exciting to contribute to Europe's energy self-sufficiency
and the global energy transition through Savannah's planned
development of lithium resources in Portugal. I am honoured to be
able to be a part of such an important undertaking at a crucial
time."
Mr Manohar Pundalik Shenoy holds three professional
qualifications, Chartered Accountant, Cost and Works Accountant;
and Company Secretary, in addition to possessing a B.Com (Honours)
in Commerce, Economics & Advanced Accountancy from Bombay
University. Mr Shenoy has since also participated in INSEAD's
Advanced Management Programme (AMP). He has over 47 years'
post-qualification corporate experience and since November 2021 is
designated as Advisor to the W J Towell Group Board in various
functions. In his current non-executive role, he is also a Member
of the W J Towell Group Audit Committee and also continues to be
Advisor to Al Marjan Ltd (who are the cornerstone shareholders of
the Company) since January 2015. From June 2005 till October 2021,
he was the Group Chief Financial Officer of W J Towell and Co. LLC.
Within this role, Mr Shenoy had responsibility for the group's
treasury, parent company and group consolidated audited accounts,
group budgeting and management reporting, and group taxation. He
was also a member of the Finance and Investment sub-committees of
the board. Prior to this, Mr Shenoy worked with a number of
multi-national corporations, particularly in India and Russia, as
Finance Director / Chief Financial Officer.
The following information is disclosed pursuant to Schedule Two,
paragraph (g) of the AIM Rules for Companies.
Ms Mary Jo Jacobi, aged 68, currently holds or has held the
following directorships and partnerships in the last five
years:
Current Directorships / Partnerships Directorships / Partnerships
with the last 5 years
The Weir Group plc Mulvaney Capital Management Ltd
University of Strathclyde
Mary Jo Jacobi Consulting LLC
Jephson-Beaman LLC
Ms Jacobi does not currently hold any ordinary shares of 1 pence
each in the Company.
Mr Manohar Pundalik Shenoy, aged 70, currently holds or has held
the following directorships and partnerships in the last five
years:
Current Directorships / Partnerships Directorships / Partnerships
with the last 5 years
Al Bustan Al Khaleeji WLL Majan Distribution Co. LLC
Continental Sourcing Pvt Ltd Fairtrade LLC
Sarooj Pars Investment Company SSK Oman International Development
Blanket Hospitality Ventures Private Co. LLC
Ltd Towell Urban Development Co.
Blue Rock Hospitality Ventures Pvt LLC
Ltd Talat Al Khoud Development Co.
LLC
Distinguished Warehouses Gulf
Co. LLC Towell Talati LLC
Project Supplies & Solutions
LLC
IOT Digital FZ
Iranian Bonyan Machines SSK
Middle East Telecommunications
Co. LLC
Jawad Sultan Technologies LLC
Mr Shenoy currently holds 5,809,524 ordinary shares of 1 pence
each in the Company.
There is no further information to be disclosed pursuant to
paragraph (g) of Schedule 2 of the AIM Rules.
Regulatory Information
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**ENDS**
Follow @SavannahRes on Twitter
Follow Savannah Resources on LinkedIn
For further information please visit www.savannahresources.com
or contact:
Savannah Resources PLC Tel: +44 20 7117 2489
David Archer, CEO
SP Angel Corporate Finance LLP (Nominated Tel: +44 20 3470 0470
Advisor)
David Hignell / Charlie Bouverat
finnCap Ltd (Joint Broker) Tel: +44 20 7220 0500
Christopher Raggett/ Tim Redfern
RBC Capital Markets (Joint Broker)
Marcus Jackson/ Farid Dadashev/ Jamil
Miah
WH Ireland Limited (Joint Broker) Tel: +44 20 7220 1666
Jessica Cave/ Ben Good (Corporate Finance)
Aimee McCusker (Corporate Broking)
Camarco (Financial PR) Tel: +44 20 3757 4980
Gordon Poole/ Emily Hall/Tessa Gough-Allen
About Savannah
Savannah is the owner of the Barroso Lithium Project, located
close to key infrastructure in Northern Portugal which contains the
most significant spodumene lithium resource in Western Europe.
Following a positive Scoping Study which outlined a conventional
operation producing 175,000t of spodumene concentrate per annum,
Savannah is progressing the development and environmental licencing
of the Barroso Lithium Project. A Definitive Feasibility Study is
underway, and Portugal's environmental regulator is currently
evaluating Savannah's Environmental Impact Assessment study. The
Company is listed and regulated on 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".
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END
BOAUNVURUNUSRUR
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April 07, 2022 02:10 ET (06:10 GMT)
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