NIPCO, a diverse Nigerian energy conglomerate, has been added as a new strategic shareholder to Savannah Energy PLC, a British independent energy company. According to a statement, the new investor plans to purchase 113,378,685 Ordinary Shares for £7.9 million (roughly 15.3 billion) as part of the company’s March 2025 fundraising. They also anticipate purchasing an additional £9.5 million, 135,674,944 Ordinary Shares through a series of secondary market trades, for a total investment of roughly £28.7 million in the company and an anticipated pro forma holding of roughly 19.4% of the company’s enlarged share capital (as enlarged by the various proposed share issues mentioned in this announcement)Additionally, Savannah announced that the company’s employee benefit trust will be selling its ordinary shares and issuing new ordinary shares to the EBT. According to Savannah’s operations and unaudited financial performance update for the nine months ending September 30, 2025, the company’s total revenues for the period were US$185.2 million, a 9% increase over the US$169.3 million total revenues for the first nine months of 2024. It further stated that its cash holdings of US$101.8 million, which as of December 31, 2024, stood at US$32.6 million, increased by 5% to US$241.6 million from US$229.3 million in the same period in 2024.
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