GBP400,000 Fundraise at Premium, Appointment of Sole Broker, Director's Dealings and Total Voting Rights

Investor news

Published: 26 March

Type: Investor news

Year: 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 £400,000 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 Ordinary Shares pursuant to Placing

Beneficial shareholding following Placing

Percentage of Ordinary Shares as enlarged by the Placing

Bruce Gordon - Chairman

14,768,479

44,768,479

23.54%

  1. 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

/Amendment

Initial

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  the financial instrument, type of instrument

Identification code

Ordinary shares of 0.1 pence each in Sabien  Technology Group plc

GB00B1FPCD38

Nature of the transaction

Purchase of ordinary shares

c)

Price(s) and volumes(s)

Price(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 transaction

LSE, AIM (XLON)

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