Savannah Resources Announces Retail Offer and Fundraise
Why we think this is neutral
The RNS contains details about the results of the placing, retail offer, and fundraise, indicating this is a routine announcement rather than a significant event.
Key Points
- Savannah Resources announces a conditional retail offer of new ordinary shares via RetailBook
- The issue price for the new shares is 3.5 pence per share, a 5.4% discount to the previous closing price
- The company is also conducting a placing of new shares to institutional investors and a direct subscription with its largest shareholders and other investors
Summary
The lithium development company has announced a retail offer and fundraise, providing details on the pricing and structure of the transactions.
Savannah Resources plc (AIM:SAV) has announced a conditional retail offer of new ordinary shares via RetailBook at an issue price of 3.5 pence per share, representing a 5.4% discount to the previous closing price. The company is also conducting a placing of new shares to institutional investors and a direct subscription with its largest shareholders and other investors as part of a broader fundraise.
PLACING