Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

26.00p
   
  • Change Today:
    -0.65p
  • 52 Week High: 40.20p
  • 52 Week Low: 19.35p
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 458,697
  • Market Cap: £339.59m
  • RiskGrade: 340

Savannah Petroleum moves Seven Energy transaction to completion stage

By Josh White

Date: Friday 08 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Niger and Nigeria-focussed independent oil and gas company Savannah Petroleum updated the market on the Seven Energy transaction on Friday, reporting that final long-form documentation relating to the Seven Energy Group financial restructuring had now been agreed.
The AIM-traded firm said the documentation had been either signed, held to order in escrow or with a contractual obligation on parties to provide signatures prior to transaction completion.

It said the key terms of the financial restructuring were as per its previous announcements, and added that the development represented the satisfaction of the last material commercial condition precedent in relation to the transaction.

As a result, the procedural transaction completion process had now begin in accordance with the pre-agreed sequence.

As part of the process, a court hearing has been scheduled by the High Court of Justice, Business and Property Courts on 13 November, at which Seven Energy International would request the appointment of administrators in order to effect the transfer of the Seven assets to group companies controlled by Savannah and AIIM.

The company said further updates in relation to the transaction would be released as appropriate.

"The agreement and signature of the Seven Energy financial restructuring represents a significant milestone in the Seven Energy Transaction, and is the trigger for us to move into the pre-agreed transaction completion phase," said Savannah chief executive officer Andrew Knott.

"I would like to thank all of the stakeholders involved in the financial restructuring, and look forward to continuing to work with them as we advance the Seven assets."

At 1127 GMT, shares in Savannah Petroleum were up 0.87% at 2.32p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Savannah Energy Market Data

Currency UK Pounds
Share Price 26.00p
Change Today -0.65p
% Change -2.44 %
52 Week High 40.20p
52 Week Low 19.35p
Volume 458,697
Shares Issued 1,306.10m
Market Cap £339.59m
RiskGrade 340

Savannah Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
82.3% below the market average82.3% below the market average82.3% below the market average82.3% below the market average82.3% below the market average
70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average
Price Trend
51.36% above the market average51.36% above the market average51.36% above the market average51.36% above the market average51.36% above the market average
38.64% above the sector average38.64% above the sector average38.64% above the sector average38.64% above the sector average38.64% above the sector average
Income
93.18% below the market average93.18% below the market average93.18% below the market average93.18% below the market average93.18% below the market average
85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average
Growth
14.51% above the market average14.51% above the market average14.51% above the market average14.51% above the market average14.51% above the market average
15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 2
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Savannah Energy Dividends

No dividends found

Trades for 09-Dec-2022

Time Volume / Share Price
11:48 4,928 @ 26.00p
11:48 3,300 @ 26.00p
11:48 3,300 @ 26.00p
11:48 674 @ 26.00p
11:48 12,271 @ 26.20p

Savannah Energy Key Personnel

CEO Andrew Knott

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