SAVANNAH RESOURCES PLC

Board/Management Information • Jul 12, 2016

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RNS Number : 8634D

Savannah Resources PLC

12 July 2016

Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining

12 July 2016

Savannah Resources Plc ("Savannah" or the "Company")

Board Appointments

Savannah Resources plc (AIM: SAV) announces that further to the investment by Al Marjan Limited ("Al Marjan") in the Company, which was announced on 15 February 2016, Savannah has appointed two of Al Marjan's nominees and their respective alternates to the Board.

Mr. Maqbool Ali Sultan and Mr. Imad Kamal Abdul Redha Sultan have been appointed as Non-Executive Directors of the Company with Mr. Manohar Pundalik Shenoy and Mr. Murtadha Ahmed Sultan being appointed as their respective alternates. Their appointments are pursuant to the relationship agreement entered into between the Company and Al Marjan, the Company's largest shareholder (29.9%), following its £1,747,473 (before expenses) investment in the Company, as announced on 15 February 2016.

Savannah's Chairman, Matthew King said, "We welcome the appointment of Al Marjan's representatives to the Board, which reflects the continued support Al Marjan has shown the Company as its largest shareholder.  They will bring a wealth of very relevant expertise to the Board, both in relation to Oman, and as a result of their extensive regional and international business experience.

"These appointments are complementary to and supportive of our strategy in Oman where Savannah continues to successfully execute its business plan, targeting copper production in late 2017."

Credentials of Appointees

Mr Maqbool Ali Sultan has significant business experience in Oman, the Middle East and internationally.  In 1987 he was elected as President of the Oman Chamber of Commerce & Industry before being appointed as Minister of Commerce and Industry in 1991, a role which he held until 2011.  During this time he represented the Government of Oman in a number of organisations, including as Chairman of Oman Oil Co., Chairman of Sohar Industrial Port, Chairman of Capital Market Authority, and as a Member of the Executive Committee of the State General Reserve Fund.  Since 2011 he has been Group Advisor of W J Towell and Co. LLC*. He is also the Chairman of the Omani British Friendship Association.

Mr Imad Kamal Abdul Redha Sultan is Vice Chairman and Deputy Managing Director of W J Towell and Co. LLC*.  Having started his career as a Trainee Marketing Executive, Mr Imad Kamal Abdul Redha Sultan joined W J Towell as a Business Development Manager in 1995, before advancing to his current role.  He has accrued extensive managerial and board experience during his time with the company and currently serves as director and/or chairman on a number of W J Towell Group companies including Towell Engineering Cluster, Nestlé Oman Trading LLC and General Electric & Trading Company LLC.  Other notable board positions held include serving as a director on the boards of the National Bank of Oman and Ominvest in the past, and National Hospitality Institute & Oman Arab Bank at present.

Mr Murtadha Ahmed Sultan holds a Diploma in Sales and Marketing and is a Director of W J Towell and Co. LLC*.  Having joined W J Towell in 1975 Mr Murtadha Ahmed Sultan has built a wealth of experience working in Oman at a Board level.  His responsibilities within W J Towell include acting as Chairman for a number of companies, including Towell Auto Centre LLC, Agility (PWC Logistics) and Spring Air Bedding Co. India Private Ltd.  He also has extensive experience working with publicly limited companies, with directorships in United Power Company, Gulf International Chemicals and Oman Flour Mills Co. SAOG.  He is also a member of Omani government organisations The Public Authority for Investment Promotion & Export Development (ITHRAA) and Corporate Governance - Capital Market Authority (CMA).

Mr Manohar Pundalik Shenoy holds three professional qualifications, Chartered Accountant, Cost and Works Accountant; and Company Secretary, in addition to possessing a B.Com (Honours) in Commerce, Economics & Advanced Accountancy from Bombay University. Mr Shenoy has since also participated in INSEAD's Advanced Management Programme (AMP). He has over 40 years' corporate experience and since January 2015 has acted as Financial Advisor to Al Marjan Limited.  He is currently Group Chief Financial Officer of W J Towell and Co. LLC*.  Within this role, Mr Shenoy has responsibility for group's treasury,  parent company and group  consolidated audited accounts, group budgeting and management reporting, and group taxation.  He is also a member of the Finance and Investment sub-committees of the board.  Prior to this, Mr Shenoy worked with a number of multi-national corporations, particularly in India and Russia, as Finance Director / Chief Financial Officer.

* W J Towell and Co. LLC is one of Oman's largest privately owned companies, which has interests in property development and leasing, FMCG distribution, automobile and ancillary distribution, engineering and fabrication, construction, services and trading, and which is also a shareholder in Al Thuraya, which has an interest in the Block 4 copper/gold project in Oman, in which Savannah may earn a 65% interest.

Regulatory Information

Mr Maqbool Ali Sultan, aged 69, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships / Partnerships	Directorships / Partnerships with the last 5 years
Matrah Cold Stores LLC	None
Towell Auto Centre LLC
Al Argan Towell Investment Co. LLC
Towell Infrastructure Projects Co. LLC.
Towell Engineering Services Co. LLC
Towell Drilling and Oilfield Services LLC
Hephzi Elevators International Co. Private Ltd
Towell Engineering International LLP
Towell International Holding Company KSCC
Al Marjan Development Co. LLC
W. J. Towell & Co. LLC, Dubai
National Automobile Higher Institute
Blue Rock Hospitality Ventures Private Limited
Marjan Motors Private Limited
Omani British Friendship Association

Mr Imad Kamal Abdul Redha Sultan, aged 45, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships / Partnerships	Directorships / Partnerships with the last 5 years
W. J. Towell & Co. LLC	Oman International Development and
Matrah Cold Stores LLC	Investment Company SAOG
Towell Auto Centre LLC	Al Marsa Fisheries LLC
Nestlé Oman Trading LLC	Continental Sourcing Private Limited
General Electric & Trading Co. LLC	Global Logistics (Oman) LLC
Al Argan Towell Investment Co. LLC
Towell Infrastructure Projects Co. LLC.
Towell Engineering Services Co. LLC
United Industrial Services Co. LLC
Towell Drilling and Oilfield Services LLC
Hephzi Elevators International Co. Private Ltd
Towell Engineering International LLP
Towell International Projects Co. WLL
Towell Electrical Projects Co. LLC
Al Bustan Al Khaleeji Co. WLL
W. J. Towell & Co. LLC, Dubai
Towell International Holding Company KSCC
National Hospitality Institute SAOG
Oman Arab Bank SAOC
Gulf Seafood LLC
Marjan Motors Private Limited

Mr Murtadha Ahmed Sultan, aged 64, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships / Partnerships	Directorships / Partnerships with the last 5 years
W. J. Towell & Co. LLC	Sohar Power Co. SAOG
Towell Auto Centre LLC	Modern Poultry Farms Co SAOG
Agility (PWC Logistics)
Spring Air Bedding Co. India Private Ltd.
Towell Mattress and Furniture Industry
Al Fajer Furnishing Co. LLC
United Power Company SAOG
Gulf International Chemicals SAOG
Oman Flour Mills Co. SAOG
Enhance, Dubai and Gulf Seafood Co. LLC
Barka Desalination Co. SAOC
Marjan Motors Private Limited
Towell-Rei Energy Solutions Company Private Limited
Arcadis & Towell Sdn.Bhd
Al Safwa Islamic Financial Services (PJSC)

Mr Manohar Pundalik Shenoy, aged 64, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships / Partnerships	Directorships / Partnerships with the last 5 years
Majan Distribution Co. LLC	None
Al Bustan Al Khaleeji Co. WLL
Fairtrade LLC
Oman International Development Co. LLC
Towell Urban Development Co. LLC
Talat Al Khoud Development Co. LLC
Distinguished Warehouses Gulf Co. LLC
Towell Talati LLC
Project Supplies & Solutions LLC
Continental Sourcing Pvt Ltd
Sarooj Pars Investment Co SSK

None of the new directors / alternate directors currently hold any shares with voting rights in the Company, or any share options over any of the share capital of the Company.

No further information relating to Maqbool Ali Sultan, Imad Kamal Abdul Redha Sultan, Manohar Pundalik Shenoy and Murtadha Ahmed Sultan is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.savannahresources.com or contact:

David Archer	Savannah Resources plc	Tel: +44 20 7117 2489
David Hignell / Gerry Beaney (Nominated Adviser)	Northland Capital Partners Ltd	Tel: +44 20 3861 6625
Jon Belliss / Elliot Hance (Corporate Broker)	Beaufort Securities Ltd	Tel: +44 20 7382 8300
Charlotte Heap / Lottie Brocklehurst	St Brides Partners Ltd	Tel: +44 20 7236 1177

Notes

Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, development company.

Oman

Savannah has interests in three copper blocks in the highly prospective Semail Ophiolite Belt in Oman.  The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt at a grade of 2.2% copper and high grade intercepts of up to 56.35m at a grade of 6.21% Cu, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits, and in December 2015 outlined exploration targets of between 10,700,000 and 29,250,000 tonnes grading between 1.4% and 2.4% copper.

Mozambique

Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project.  Formation of the joint venture remains subject to approval by the Ministry of Mineral Resources and Energy of the Republic of Mozambique. Jangamo has a 65Mt Inferred Mineral Resource at a grade of 4.2% total heavy minerals ("THM") at a 2.5% cut-off grade.  The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at a grade of 3-4.5% THM (published in 2008).

Finland

Savannah has Reservation Permits over two new lithium projects, Somero and Erajarvi, covering an area of 159km² in Finland.  Savannah holds a 100% interest in these applications through its Finnish subsidiary, Finkallio Oy.  Geological mapping by the Finnish Government within the project areas has highlighted the presence of lithium minerals spodumene, lepidolite and petalite with the Government also identifying Somero and Erajarvi as one of the most prospective areas to discover lithium deposits in Finland.  Savannah plans to initiate an exploration programme including data compilation, geological mapping and surface sampling with the aim of generating drill ready targets during 2016.

This information is provided by RNS

The company news service from the London Stock Exchange

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