Savannah Resources launches retail share offer at 3.5 pence per share

Published 26/06/2025, 17:02
 Savannah Resources launches retail share offer at 3.5 pence per share

LONDON - Savannah Resources (LON:SAVS) PLC (AIM:SAV) announced Thursday a retail offer of new ordinary shares priced at 3.5 pence per share, representing a 5.4 percent discount to the closing mid-price on June 25.

The retail offer, conducted via RetailBook, runs alongside a separate institutional placing and direct subscription with the company’s four largest shareholders, including AMG Lithium B.V. Retail investors can participate through investment platforms including AJ Bell, Hargreaves (LON:HRGV) Lansdown, and interactive investor, with a minimum subscription of £250.

Applications can be made through ISAs, SIPPs, or General Investment Accounts. The retail offer is expected to close on July 1 and is conditional on the new shares being admitted to trading on AIM, anticipated for July 4.

Savannah will use proceeds from the combined fundraising to support ongoing development of its Barroso Lithium Project, including completion of the Definitive Feasibility Study and preparation for post-study workstreams leading to the project’s Final Investment Decision next year.

The company stated the retail offer aims to provide existing retail shareholders and new investors an opportunity to participate in the fundraising. No commission will be charged by RetailBook on applications to the offer.

The total value of shares available through the retail offer is capped at £6,808,000, according to the company’s press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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