TIDMSAVE
RNS Number : 2228O
Savannah Energy Plc
05 February 2021
5 February 2021
Savannah Energy PLC
("Savannah" or "the Company")
PDMR Dealings
Award of Options
Savannah Energy PLC ("Savannah" or the "Company"), the
African-focused British independent energy company sustainably
developing high quality, high potential energy projects in Nigeria
and Niger, announces that it has awarded options over existing
Savannah ordinary shares currently held in the company's Employee
Benefit Trust ("the EBT") to persons discharging managerial
responsibilities.
Award of Options under the New Share Scheme
The Company has awarded options pursuant to the New Share Scheme
(as defined in the Company's 2019 Annual Report) over existing
Savannah ordinary shares, at nil cost, currently held in the
Company's EBT to the following persons (the "Options"):
-- Antoine Richard, Chief Operating Officer, has been granted
1,065,621 Options held in the EBT.
-- Christopher Thomas, Head of Strategy, has been granted of
1,065,621 Options held in the EBT.
As per the terms of the New Share Scheme, the Options vest on a
straight-line basis should the 30-day volume weighted average price
("VWAP") of the Company's shares at any point during a five-year
period exceed a hurdle price of 47 pence, with 100% vesting on the
VWAP reaching 68 pence. Shares received pursuant to the Options are
subject to a three-month lock-in period, during which dealing in
the shares is not permitted. For further details on the vesting and
other conditions of the Options, please refer to page 92 of the
Company's 2019 Annual Report (which can be found on the Company's
website: www.savannah-energy.com). This scheme was approved by
shareholders on 3 May 2018.
Award of Options in Lieu of Payment of Cash Bonuses
The Company is additionally making share option awards totalling
4,414,285 to Andrew Knott (Chief Executive Officer), Isatou
Semega-Janneh (Chief Financial Officer), Yacine Wafy (VP West
Africa) and Christopher Thomas (Head of Strategy). These awards are
being made at the request of the individuals who were seeking
additional equity exposure, in lieu of payment of certain cash
bonuses. These share options are over existing Savannah ordinary
shares that are held in the EBT and can be exercisable for a period
of ten years at nil cost.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
1 Details of the person discharging board/managerial responsibilities/person closely associated
a) Name Antoine Richard
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Savannah Energy PLC
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138002YCJORSFH5YR43
-------------------------------------------------------- -------------------------------------------------------
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Nil-cost options over Savannah Energy plc ordinary
instrument shares
Identification code
ISIN: GBOOBP41S218
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The granting of 1,065,621 nil-cost options over
1,065,621 ordinary shares of 0.1p each in
the Company
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 5 February 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging board/managerial responsibilities/person closely associated
a) Name Christopher Thomas
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Head of Strategy
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Savannah Energy PLC
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138002YCJORSFH5YR43
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Nil-cost options over Savannah Energy plc ordinary
instrument shares
Identification code
ISIN: GBOOBP41S218
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The granting of 1,065,621 nil-cost options over
1,065,621 ordinary shares of 0.1p each in
the Company
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 5 February 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging board/managerial responsibilities/person closely associated
a) Name Andrew Knott
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Savannah Energy PLC
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138002YCJORSFH5YR43
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Nil-cost options over Savannah Energy plc ordinary
instrument shares
Identification code
ISIN: GBOOBP41S218
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The granting of 2,200,000 nil-cost options over
2,200,000 ordinary shares of 0.1p each in
the Company
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 5 February 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging board/managerial responsibilities/person closely associated
a) Name Isatou Semega-Janneh
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Savannah Energy PLC
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138002YCJORSFH5YR43
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Nil-cost options over Savannah Energy plc ordinary
instrument shares
Identification code
ISIN: GBOOBP41S218
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The granting of 625,000 nil-cost options over 625,000
ordinary shares of 0.1p each in the
Company
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 5 February 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging board/managerial responsibilities/person closely associated
a) Name Yacine Wafy
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status VP, West Africa
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Savannah Energy PLC
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138002YCJORSFH5YR43
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Nil-cost options over Savannah Energy plc ordinary
instrument shares
Identification code
ISIN: GBOOBP41S218
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The granting of 1,303,571 nil-cost options over
1,303,571 ordinary shares of 0.1p each in
the Company
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 5 February 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging board/managerial responsibilities/person closely associated
a) Name Christopher Thomas
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Head of Strategy
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Savannah Energy PLC
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138002YCJORSFH5YR43
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Nil-cost options over Savannah Energy plc ordinary
instrument shares
Identification code
ISIN: GBOOBP41S218
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The granting of 285,714 nil-cost options over 285,714
ordinary shares of 0.1p each in the
Company
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 5 February 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
For further information, please refer to the Company's website
www.savannah-energy.com or contact:
Savannah Energy +44 (0) 20 3817 9844
Andrew Knott, CEO
Isatou Semega-Janneh, CFO
Sally Marshak, Communications
Consultant
Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494
James Spinney
Ritchie Balmer
Rory Murphy
finnCap Ltd (Joint Broker)
Christopher Raggett
Tim Redfern +44 (0) 20 7220 0500
Panmure Gordon (UK) Ltd (Joint
Broker)
John Prior +44 (0) 20 7886 2500
Hugh Rich
Celicourt Communications +44 (0) 20 8434 2754
Mark Antelme
Jimmy Lea
Ollie Mills
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014, and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
About Savannah Energy:
Savannah Energy PLC is an AIM market listed African-focused
British independent energy company sustainably developing high
quality, high potential energy projects in Nigeria and Niger, with
a focus on delivering material long term returns for stakeholders.
In Nigeria, the Company has controlling interests in the cash flow
generative Uquo and Stubb Creek oil and gas fields, and the Accugas
midstream business in South East Nigeria, which provides gas
contributing to over 10% of Nigeria's daily national average power
generation. In Niger, the Company has interests in two large PSC
areas located in the highly oil prolific Agadem Rift Basin of South
East Niger, where the Company has made five oil discoveries and
seismically identified a large exploration prospect inventory,
consisting of 146 exploration targets to be considered for
potential future drilling activity.
Further information on Savannah Energy PLC can be found on the
Company's website: www.savannah-energy.com.
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END
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