SAVE.L

Savannah Energy PLC
Savannah Energy Plc - South Sudan Acquisition Update
5th April 2024, 16:24
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 5725J
Savannah Energy Plc
05 April 2024
 

5 April 2024

Savannah Energy PLC

("Savannah" or "the Company")

South Sudan Acquisition Update

 

Further to the Company's announcement on 28 March 2024, the Company provides the following additional information on its proposed acquisition of PETRONAS International Corporation Limited's energy business in South Sudan through the acquisition of Petronas Carigali Nile Limited ("PCNL") (the "Proposed Transaction"), as first announced by the Company on 12 December 2022.

Completion of the Proposed Transaction remains subject to satisfaction of certain conditions precedent, principally the receipt of written approval for the Proposed Transaction from the Government of South Sudan. Following receipt of this approval, Savannah would then progress to finalise an AIM Admission Document to facilitate seeking a restoration to trading on AIM of the Company's ordinary shares.  

Publication of the AIM Admission Document requires the release of the Company's FY 2023 audited annual results, together with the finalisation of the audit of the financial statements for FY 2023 of PCNL. It is currently anticipated, therefore, that the AIM Admission Document, together with Notice of General Meeting to approve completion of the Proposed Transaction pursuant to AIM Rule 14, would be published in late Q2 2024 /early Q3 2024. 

 

 

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

Nick Beattie, CFO

Sally Marshak, Head of IR & Communications

 

Strand Hanson (Nominated Adviser)                                     +44 (0) 20 7409 3494

James Spinney

Ritchie Balmer 

Rob Patrick

 

Cavendish Capital Markets Ltd (Joint Broker)                      +44 (0) 20 7220 0500

Derrick Lee

Tim Redfern

 

Panmure Gordon (UK) Ltd (Joint Broker)                             +44 (0) 20 7886 2500

Hugh Rich

James Sinclair-Ford

 

Camarco                                                                                +44 (0) 20 3757 4983

Billy Clegg

Owen Roberts

Violet Wilson

 

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, as amended ("MAR").

 

About Savannah Energy:  

Savannah Energy PLC is a British independent energy company focused around the delivery of Projects that Matter in Africa.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
FUREAKLSEFKLEFA]]>
TwitterFacebookLinkedIn