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LONDON - Savannah Energy PLC announced Thursday that it has postponed the issuance of the final tranche of 138,977,614 subscription shares that was originally scheduled to be completed by the close of business today.
The delay is attributed to the ongoing suspension of the company’s ordinary shares from trading on AIM. According to the company statement, this final tranche is now expected to be issued within 10 business days after the restoration of trading of Savannah’s existing ordinary shares on AIM.
The company referenced its previous announcement from August 27, stating that it expects to publish its audited annual accounts for fiscal year 2024 this month, after which trading on AIM is anticipated to resume.
This final tranche is part of a fundraising initiative that Savannah Energy initially announced on March 4, 2025. Once these subscription shares are issued and admitted to trading, the company will have a total of 1,749,592,726 ordinary shares in issue.
Savannah Energy describes itself as a British independent energy company focused on delivering energy projects in Africa. The information was provided in a press release statement issued by the company through the London Stock Exchange’s news service.
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