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.”