TIDMSAVE
RNS Number : 0384X
Savannah Energy Plc
21 April 2023
21 April 2023
Savannah Energy PLC
("Savannah" or the "Company")
Appointment of Non-Executive Director & Chair Designate
Savannah Energy PLC, the British independent energy company
focused around the delivery of Projects that Matter , is pleased to
announce that it has appointed Joseph Pagop Noupoué as a
Non-Executive Director and Chair Designate, with immediate effect.
As previously announced on 7 June 2022, Steve Jenkins plans to step
down from his role as the Company's Non-Executive Chair at the
close of the 2023 Annual General Meeting, having completed over
eight years in the role, but will continue to serve as a
Non-Executive Director of the Company.
Joseph Pagop Noupoué is currently a senior partner at EY, the
leading global professional services firm, whose work is focused
around corporate (including contract, M&A and dispute
resolution) and fiscal law matters, as well as major client
relationship management in the French speaking and North African
regions. He was formerly head of the Africa Department of EY
Société d'Avocats France and is presently EY Managing Partner for
Cameroon and Tax Leader for French speaking Africa leading more
than 400 professional service providers located in nine
countries.
Joseph's private sector experience has spanned advisory work in
over 20 African countries, for a client list which includes the
energy (e.g. BP, Shell, Eni, TotalEnergies, ExxonMobil and
Petronas) and mining (e.g. Rio Tinto, Kinross, Mittal and BHP)
majors, as well as leading FTSE100, CAC40 and Fortune 500 energy
and mining service companies and major private equity houses. His
public sector practice has included work for many African countries
(including around the drafting of those countries' relevant energy
and mining codes) and developmental finance institutions such as
the World Bank Group.
Joseph is an Attorney at Law. He holds the French Bar
Association Diploma (CAPA) and a Post Graduate Diploma in Banking
and Finance (DESS) of the University of Lyon, France. Formerly
registered with the French Bar (Hauts de Seine), he is registered
with the Cameroon Bar. He also holds a Post Graduate Diploma in
Banking and Finance (DESS) from the University of Lyon, France.
In conjunction with his appointment, Joseph has agreed to
subscribe for 6,095,726 new ordinary shares in the capital of the
Company ("Ordinary Shares") at a subscription price as agreed
between the Company and Joseph of 26.25 pence per share, equating
to a total investment of approximately US$2 million
Commenting on the appointment, Steve Jenkins, Non-Executive
Chair of Savannah, said:
"I am delighted that Joseph has been appointed as a
Non-Executive Director and Chair Designate of Savannah. I believe
his leadership skills, deep knowledge of the African business
environment and extensive business, financial and legal expertise
will serve Savannah well and will complement the skills of the
existing Board and senior management team.
It has been a privilege to be the Chair of Savannah for over the
past eight years and I look forward to contributing to the
continuing success of the business as a Non-Executive
Director."
Joseph Pagop Noupoué commented:
"I am pleased to be joining Savannah at this key point in its
growth and look forward to applying my experience to the role. I
would like to thank outgoing Chair, Steve Jenkins, for his tenure
in guiding this company since 2014 and look forward to working with
him, the rest of the Board and executive management team towards
our many and wide-ranging goals.
It is very clear to me that Savannah is ambitious but fuelled by
a passion to do good in the world. The benefits Savannah has
brought to African communities in Nigeria and Niger and plans for
Cameroon and South Sudan are impressive and evident."
Andrew Knott, CEO of Savannah Energy, said :
"I am delighted that Joseph has agreed to join Savannah as a
Non-Executive Director and Chair Designate. Joseph has considerable
experience in Africa and his background in advisory services to the
African energy sector places him in an excellent position to
steward Savannah to further growth through strong leadership and
the promotion of good governance. I look forward to working with
Joseph and would also like to take this opportunity to thank Steve
Jenkins for his strong leadership of the Board from Savannah's
initial listing to the current day and am grateful that his
experience will be retained in his continuing role as a
Non-Executive Director."
Additional Information
The following additional information is provided in accordance
with paragraph (g) of Schedule Two of the AIM Rules for
Companies.
Joseph Pagop Noupoué (age 54)
Current Directorships/Partnerships Past Directorships/Partnerships
(last 5 years)
Cameroon Oil Transportation Financière d'Afrique SAS
Company S.A. SAS Terres du Moungo
Ernst & Young Europe LLP SCI Drouot Akwa
Ernst & Young Cameroon S.A.
Ernst & Young Cameroon SARL
Terres du Moungo SARLU
Ranch de Ngaoundaba SARL
--------------------------------
Other than the information contained within this announcement,
there is no further information required to be disclosed pursuant
to paragraph (g) of Schedule Two of the AIM Rules for
Companies.
Admission and Total Voting Rights
Following the issue of the 6,095,726 new Ordinary Shares, the
Company will have 1,312,194,545 Ordinary Shares in issue, all with
voting right attached.
Application will be made in due course to the London Stock
Exchange plc for admission of the 6,095,726 new Ordinary Shares to
trading on AIM, which is expected to take effect on or shortly
following restoration to trading on AIM of the Ordinary Shares,
which will occur following the publication of an AIM Admission
Document in respect of the Company's proposed acquisition of
PETRONAS International Corporation Limited's entire oil and gas
business in South Sudan and a further announcement will be made
when appropriate.
For further information, please refer to the Company's website
www.savannah-energy.com or contact:
+44 (0) 20 3817
Savannah Energy 9844
Andrew Knott, CEO
Nick Beattie, CFO
Sally Marshak, Head of IR & Communications
+44 (0) 20 7409
Strand Hanson Limited (Nominated Adviser) 3494
James Spinney
Ritchie Balmer
Rob Patrick
+44 (0) 20 7220
finnCap Ltd (Joint Broker) 0500
Christopher Raggett
Tim Redfern
+44 (0) 20 7886
Panmure Gordon (UK) Ltd (Joint Broker) 2500
John Prior
Hugo Rich
James Sinclair-Ford
+44 (0) 20 3757
Camarco 4983
Billy Clegg
Owen Roberts
Violet Wilson
About Savannah Energy:
Savannah Energy PLC is an AIM quoted British independent energy
company focused around the delivery of Projects that Matter and is
active in Cameroon, Niger and Nigeria.
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END
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