Savannah Resources PLC Directorate Change (4269R)
July 06 2022 - 2:00AM
UK Regulatory
TIDMSAV
RNS Number : 4269R
Savannah Resources PLC
06 July 2022
6 July 2022
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV)
('Savannah' or the 'Company')
Directorate Change
Savannah Resources plc announces that, with immediate effect,
David Archer is stepping down after almost nine years as Chief
Executive. He will be succeeded on an interim basis by Dale
Ferguson, the Company's Technical Director, whilst the Company
progresses the search for a new full time CEO.
Matthew King, Chairman commented, "David's leadership has
contributed to substantial progress for Savannah to date as we seek
to take the Barroso Lithium Project forward into production. We are
grateful for his commitment, and he leaves Savannah in position of
strength. We extend our thanks and very best wishes to him.
"Dale Ferguson brings a wealth of technical expertise and a
strong, global track record of bringing mines into production. He
has been involved with the project since the beginning and an
integral member of the board for nine years and I now look forward
to working even more closely with him in his new capacity. Dale
also has strong financial interest in the Company, both directly
and via his holding in the Company's second largest shareholder,
Slipstream Resources Investments, amounting to 2.94% of Savannah's
issued share capital."
David Archer commented "It's been an honour to have led Savannah
for the past nine years and I would like to thank everyone who has
contributed to our progress and successes so far. I am immensely
proud to leave the Company and the Barroso Lithium Project well
positioned to be a major European supplier of this strategic raw
material. I am stepping down with a very strong team in place to
execute on Savannah's next phase and I wish everyone great success
and, as a committed long-term shareholder, will be closely
following the future of Savannah."
In accepting the interim appointment, Dale Ferguson said, "I am
delighted to have been asked to fill the position of CEO on an
interim basis and help the Company achieve its next phase of
development. I will increasingly be based in Portugal and London to
progress licencing, commercial matters, and conclude the ongoing
process to appoint a senior in country leader in Portugal. We have
an excellent team, which we are currently in the process of
expanding and I look forward to working very closely with them
all."
Regulatory Information
This 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 ("UK MAR").
Savannah - Enabling Europe's energy transition.
**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
Dale Ferguson, CEO
Tel: +44 20 3470 0470
SP Angel Corporate Finance LLP (Nominated
Advisor)
David Hignell / Charlie Bouverat
Tel: +44 20 7220 0500
finnCap Ltd (Joint Broker)
Christopher Raggett/ Tim Redfern
Tel: +44 20 7653 4000
RBC Capital Markets (Joint Broker)
Farid Dadashev/ Jamil Miah
Tel: +44 20 7220 1666
WH Ireland Limited (Joint Broker)
Jessica Cave/ Ben Good/ Darshan Patel
(Corporate Finance)
Aimee McCusker (Corporate Broking)
Tel: +44 20 3757 4980
Camarco (Financial PR)
Gordon Poole/ Emily Hall
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. With
a positive Scoping Study which outlined a conventional mine and
concentrator 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 the London Stock Exchange's Alternative Investment
Market (AIM: SAV). The Company's ordinary shares are also available
on the Quotation Board of the Frankfurt Stock Exchange (FWB: SAV),
and the Börse Stuttgart (SWB: SAV).
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END
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