Schedule One - Savannah Energy Plc

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Savannah Energy PLC ("Savannah" or the "Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

40 Bank Street,

London E14 5NR

United Kingdom

COUNTRY OF INCORPORATION:

England and Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.savannah-energy.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Savannah is an independent oil & gas company focused on activities in Nigeria and Niger.

As announced by the Company on 15 November 2019, Savannah completed the acquisition of certain of the assets of Seven Energy International Limited (the "Acquisition"). The assets which were acquired are all located in the South East of Nigeria and include:

· an 80% economic interest in the producing Uquo Field gas project;

· a 51% economic interest in the producing Stubb Creek Field; and

· an 80% interest in the Accugas Midstream Business, which owns and operates the 200 MMscfd Uquo gas processing facility, the c. 260km gas pipeline network and related gas distribution infrastructure, as well as holding a number of gas sales agreements with downstream customers.

The Company's activities in Niger centre around the delivery, subject to suitable market and financing conditions, of first production and cash flow from the planned R3 East Early Production Scheme, as well as undertaking further exploration activities on its acreage in country.

The Acquisition constituted a reverse takeover under the AIM Rules for Companies, which was approved by shareholders in general meeting on 8 January 2018.

The Company will shortly publish an AIM Supplemental Admission Document (the "Document") to be issued in connection with the re-admission to trading of the enlarged group (the "Group", as enlarged by the Acquisition) pursuant to Rule 14 of the AIM Rules for Companies ("AIM Rules"). Further details on, inter alia, the Group and the Acquisition are set out in the Document.

Accordingly, the existing issued share capital is expected to be cancelled from trading at 4.30 p.m. on 15 May 2020 with the re-admission of the Group's issued share capital to trading on AIM with effect from 8.00 a.m. on 18 May 2020 ("Admission").

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

996,408,412 ordinary shares of 0.1 pence each ("Ordinary Shares")

The Company does not hold any treasury shares.

There are no restrictions on the transfer of the securities.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

No capital to be raised on Admission

Anticipated market capitalisation on Admission: £80 million (based on the mid-market closing price of an Ordinary Share on 29 April 2020)

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

7.60 per cent.

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Stephen Ian ("Steve") Jenkins (Non-Executive Chairman)

Rt. Hon. Sir Stephen Rothwell O'Brien (Non-Executive Vice Chairman)

Andrew Allister Knott (Chief Executive Officer)

Isatou Semega-Janneh (Chief Financial Officer)

David Clarkson (Non-Executive Director)

Marco ("Mark") Iannotti (Non-Executive Director)

David Lawrence Jamison (Non-Executive Director)

Michael Jon Wachtel (Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

i) 31 December

ii) 30 June 2019 (unaudited interim financial information)

iii) 30 June 2020 (in respect of year ended 31 December 2019), 30 September 2020 (in respect of six months ended 30 June 2020), 30 June 2021 (in respect of year ended 31 December 2020).

EXPECTED ADMISSION DATE:

18 May 2020

NAME AND ADDRESS OF NOMINATED ADVISER:

Strand Hanson Limited

26 Mount Row

London

W1K 3SQ

NAME AND ADDRESS OF BROKER:

Mirabaud Securities Limited

10 Bressenden Place

London SW1E 5DH

Numis Securities Limited

The London Stock Exchange Building

10 Paternoster Square

London EC4M 7LT

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Copies of the Supplemental Admission Document, which will contain full details about the Company and Admission, will be available from the offices of Computershare Investor

Services plc at the Pavilions, Bridgwater Road, Bristol, BS13 8AE during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) for a period of one month from the date of Admission. A copy of the Supplemental Admission Document will also be available for download at the Company's website.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code (2018)

DATE OF NOTIFICATION:

30 April 2020

NEW/ UPDATE:

New