Sabien Technology Group PLC Fundraise and appointment of sole broker (8391I)
March 26 2018 - 2:00AM
UK Regulatory
TIDMSNT
RNS Number : 8391I
Sabien Technology Group PLC
26 March 2018
FOR IMMEDIATE RELEASE
26 March 2018
Sabien Technology Group plc
("Sabien" or the "Company")
GBP400,000 Fundraise at Premium
Appointment of Sole Broker
Director's Dealings
Total Voting Rights
Sabien Technology Group plc is pleased to announce that
Peterhouse Corporate Finance Limited has raised gross proceeds of
GBP400,000 via the placing of 80,000,000 new ordinary shares (the
"Placing Shares") with new and existing investors, at a price of
0.5 pence (the "Placing Price") per Placing Share (the "Placing").
The Placing has been completed at a 25 per cent. premium to the
closing mid-market price on 22 March 2018 of 0.4 pence.
Appointment of Broker
Sabien is also pleased to announce that it has appointed
Peterhouse Corporate Finance Limited as Sole Broker to the Company,
effective immediately.
Admission of the Placing Shares
Once issued, the Placing shares will rank pari passu with the
Company's existing ordinary shares. Application will be made for
the Placing Shares to be admitted to trading on AIM ("Admission")
and it is expected that such Admission will become effective on or
around 29 March 2018.
Director's Participation
A Director has agreed to subscribe for Placing Shares in the
Placing at the Placing Price as per the table below (the
"Director's Participation"):
Director Number of Beneficial Percentage of
Ordinary Shares shareholding Ordinary Shares
pursuant to following as enlarged by
Placing Placing the Placing
------------- ---------------- ------------- ----------------
Bruce Gordon
- Chairman 14,768,479 44,768,479 23.54%
------------- ---------------- ------------- ----------------
B. Gordon is also a director of Thames Valley Capital Limited,
an advisor to TVI 2 Limited, which holds 4,108,356 ordinary shares
in the Company. He is therefore interested, directly and
indirectly, in 48,876,835 Ordinary shares, representing 25.69% of
the enlarged issued share capital.
The Director's Participation as set out above ("the
Transaction") is a related party transaction under the AIM Rules.
The Directors, independent of the Transaction, consider, having
consulted with the Company's Nominated Adviser, that the terms of
the Transaction are fair and reasonable so far as shareholders of
the Company are concerned.
Total Voting Rights
Following Admission, there will be 190,254,867 Ordinary Shares
in issue. The figure of 190,254,867 Ordinary Shares may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, Sabien under the Disclosure and
Transparency Rules.
The following information relating to the transaction has been
filed with the FCA in accordance with Article 19(1) of the Market
Abuse Regulation,
Bruce Gordon
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------
a) Name Bruce Gordon
--- ------------------------ -----------------------------
2 Reason for notification
--- -------------------------------------------------------
a) Position / status Chairman
--- ------------------------ -----------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ -----------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------
a) Name Sabien Technology Group plc
--- ------------------------ -----------------------------
b) LEI 213800S5QG1SMGHFHY68
--- ------------------------ -----------------------------
4 Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -------------------------------------------------------
a) Description of Ordinary shares of 0.1 pence
the financial each in Sabien Technology
instrument, type Group plc
of instrument GB00B1FPCD38
Identification
code
--- ------------------------ -----------------------------
Nature of the Purchase of ordinary shares
transaction
--- ------------------------ -----------------------------
c) Price(s) and Price(s) Volumes(s)
volumes(s) ---------- -----------
0.4pence 14,768,479
---------- -----------
--- ------------------------ -----------------------------
d) Aggregated information n/a
--- ------------------------ -----------------------------
e) Date of the transaction 23 March 2018
--- ------------------------ -----------------------------
f) Place of the LSE, AIM (XLON)
transaction
--- ------------------------ -----------------------------
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information:
Sabien Technology Group plc
+44(0)20 7993 3700
Alan O'Brien
Beaumont Cornish Limited (Nominated
Advisor)
+44(0)20 7628 3396
Michael Cornish and Roland Cornish
www.beaumontcornish.com
Peterhouse Corporate Finance Limited
(Sole Broker)
+44 (0) 20 7469 0930
Martin Lampshire and Fungai Ndoro
This information is provided by RNS
The company news service from the London Stock Exchange
END
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