REG - Sabien Technology - Oversubscribed Broker Option to raise £100,000

Sabien TechnologyAnnouncement

04/08/2022 07:15

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RNS Number : 8528U  Sabien Technology Group PLC  04 August 2022

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

4 August 2022

 

Sabien Technology Group plc

("Sabien", the "Company", or the "Group")

Oversubscribed Broker Option Exercised to raise £100,000

 

Sabien Technology Group plc (AIM:SNT), the company focused on a green
aggregation strategy, announces that it has conditionally raised a further
£100,000 (before expenses) through the exercise of the Broker Option,
announced yesterday (defined terms as per that announcement), for 1,000,000
new Ordinary Shares with a number of new and existing investors at a price of
10 pence per Broker Option Share.  The Broker Option was heavily
oversubscribed with total orders before scale-back of £515,000.  Investors
will receive approximately 19.42% of their application subject to the passing
of the resolutions at the forthcoming General Meeting. The exercise of the
Broker Option has been arranged by Peterhouse.  The proceeds of the Broker
Option will be used for general working capital purposes to execute the
Company's green aggregation strategy.

The issue of the 1,000,000 Broker Option Shares is subject to the approval of
shareholders at the GM, details of which is expected to be announced later
this week.  It is expected that the GM will be held on 22 August 2022.  The
Broker Option, a facility to allow existing shareholders to participate in the
Company's capital raising on similar terms to the Placing, has now closed and
was exercised in respect of the maximum number of new shares available under
the option.

An application will be made for the 1,000,000 Broker Option Shares to be
admitted to trading on AIM, subject to approval at the GM, which is expected
to take effect on or around 23 August 2022, with further details to follow.

Total Voting Rights

Subject to the GM and Admission of the Broker Option Shares, it is anticipated
that the Company will have 21,695,168 Ordinary Shares in issue, each with one
voting right.  There are no shares held in treasury.  Therefore (subject to
the above conditions), the Company's total number of Ordinary Shares and
voting rights will be 21,695,168 and this figure may (subject to the above
conditions) be used by shareholders from Admission 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, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 For Further Information:                               +44 20 7993 3700

 Sabien Technology Group plc

 Richard Parris, Executive Chairman

 Allenby Capital Limited (Nominated Adviser)

 John Depasquale / Nick Harriss / Vivek Bhardwaj       +44 203 328 5656

 Peterhouse Capital Limited (Broker)                   +44 207 469 0930

 Duncan Vasey / Lucy Williams

 

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