REG - Sabien Technology - Placement and Broker Option

Sabien TechnologyAnnouncement

19/02/2024 07:45

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RNS Number : 5883D  Sabien Technology Group PLC  19 February 2024

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

19 February 2024

Sabien Technology Group Plc

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

 

Placement and Broker Option

 

Sabien Technology Group (AIM:SNT) is pleased to announce that it has entered
into a subscription agreement with Richard Parris, Executive Chairman and CEO
of Sabien.

 

Under this agreement, Richard Parris will subscribe for new shares to be
issued by the Company up to a total consideration of £40,000. The effective
price of this new issue of equity will be determined by the average closing
Sabien share price for the last five business days prior to the completion
(the "Subscription").

 

In order to provide qualifying shareholders ("Existing Shareholders") and
other qualified investors with an opportunity to participate on the same basis
as the investment by Mr Parris, the Company has granted Peterhouse a Broker
Option over such number of Ordinary Shares as agreed between the Company and
Peterhouse. ("Broker Option Shares").

 

Existing Shareholders who hold Ordinary Shares in the Company and are on the
register of members as at the close of business on 16 February 2024, will be
given a priority right to participate in the Broker Option and all orders from
such Existing Shareholders will be accepted and processed by Peterhouse,
subject to scale-back under the Broker Option. The Broker Option has not been
underwritten. Peterhouse is entitled to participate in the Broker Option as
principal.

 

The Broker Option is exercisable by Peterhouse on more than one occasion, at
any time from the time of this announcement to 5 p.m. UK time on 20
February 2024, at its absolute discretion, following consultation with the
Company. There is no obligation on Peterhouse to exercise the Broker Option or
to seek to procure subscribers for the Broker Option. Peterhouse may also
allocate new Ordinary Shares after the time of any initial allocation to any
person submitting a bid after that time.

 

The Broker Option Shares are not being made available to the public and none
of the Broker Option Shares are being offered or sold in any jurisdiction
where it would be unlawful to do so. No Prospectus will be issued in
connection with the Broker Option.

 

To subscribe for Broker Option Shares, Existing Shareholders (who are
qualifying) and other qualified investors should communicate their bid to
Peterhouse via their stockbroker as Peterhouse cannot take direct orders from
individual private investors. Existing Shareholders or other interested
parties who wish to register their interest in participating in the Broker
Option Shares should instruct their stockbroker to call Peterhouse on STX:
76086 or 020 7469 0938 (tel:020%207469%200938)  or 020 7469 0936
(tel:020%207469%200936)  or 020 7220 9797 (tel:020%207220%209797) . Each bid
should state the number of Broker Option Shares the Existing Shareholder
wishes to subscribe for at the Issue Price.

 

 For further information:                          +44 20 7993 3700

                                                   Scott.fulton@sabien.com (mailto:Scott.fulton@sabien.com)

 Sabien Technology Group plc

 Richard Parris, Executive Chairman

 Scott Fulton, Investor Relations

 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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