Savannah to Raise Cash

Sunday, January 27, 2019

Savannah Petroleum intends to conduct an accelerated bookbuild to raise gross proceeds of approximately $23 million by way of a placing of new ordinary shares of £0.001 each in the company.

At current prices, the new Ordinary Shares issued pursuant to the Placing are expected to represent approximately 7% of its current issued share capital.

The Bookbuild will open with immediate effect.

Mirabaud Securities and H&P Advisory are acting as joint bookrunners in relation to the Placing.  Shore Capital Stockbrokers is acting as Lead Manager.

Savannah intends to use the proceeds of the Placing to fund working capital.

« GO BACK

You may also like

" alt="Sintana to Expand Asset Base in Namibia with Acquisition">

Sintana to Expand Asset Base in Namibia with Acquisition

" alt="Luanda Gives Afentra Nod for Azule Acquisition">

Luanda Gives Afentra Nod for Azule Acquisition

" alt="TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets">

TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets

" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">

Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential

" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">

African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage

" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">

Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine

" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">

Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt

" alt="Sintana Completes Well Testing at Mopane 1-X in Namibia">

Sintana Completes Well Testing at Mopane 1-X in Namibia