REG - Sabien Technology - Changes to Warrant Terms

Sabien TechnologyAnnouncement

18/01/2022 07:05

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RNS Number : 7425Y  Sabien Technology Group PLC  18 January 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

 

18 January 2022

Sabien Technology Group plc

("Sabien" or the "Company")

Changes to Warrant Terms

 

Sabien Technology Group plc, a Company focused on a Green Aggregation Strategy
announces that the board of directors of the Company (the "Board") yesterday
agreed to amend the terms of the warrants originally announced on 20 January
2021 (the "Warrants").  Following last year's share capital consolidation and
those warrant exercises that have taken place so far, there are 8,283,331
Warrants outstanding.  The Warrant terms will be amended as follows:

·    The final exercise date will be extended from 19 January 2022 to 4
February 2022; and

·    Any Warrant holder who exercises at least 25% of their Warrants
between 20 January 2022 and 2 February 2022 will be granted one Bonus Warrant
for each Warrant exercised.

All other Warrant terms will remain unchanged.  The Bonus Warrants will have
the following key terms:

·    An exercise period which expires on 5 February 2023;

·    An exercise price of 45 pence per new ordinary share of 3 pence each
in the capital of the Company ("Ordinary Shares");

·    Transferrable (however no application will be made for admission to
trading on any recognised trading platform); and

·    The Bonus Warrants will have a call option whereby in the event that
the Ordinary Shares closes above 40 pence per Ordinary Share (mid-market
closing price on AIM), the Company has the right (but not the obligation) at
any time thereafter to call warrant holders to exercise all warrants held by
them within 7 days. Any warrants not exercised when so required by the Company
will automatically expire at the end of the 7-day period.

 

Further Information:

 Sabien Technology Group plc                       +44 20 7993 3700

 Richard Parris, Executive Chairman

 Allenby Capital Limited (Nominated Adviser)       +44 20 3328 5656

 John Depasquale / Nick Harriss / Vivek Bhardwaj

 Peterhouse Capital Limited (Broker)               +44 20 7469 0930

 Duncan Vasey / Lucy Williams

 

The person who arranged for the release of this announcement on behalf of the
Company was Richard Parris, Executive Chairman.

A copy of this announcement will be available from the Company's website at
www.sabien.com

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