Sabien Technology Group PLC Oversubscribed Broker Option to raise GBP100,000 (8528U)
August 04 2022 - 2:00AM
UK Regulatory
TIDMSNT
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 GBP100,000
Sabien Technology Group plc (AIM:SNT), the company focused on a
green aggregation strategy, announces that it has conditionally
raised a further GBP100,000 (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 GBP515,000. 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:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
Allenby Capital Limited (Nominated
Adviser)
John Depasquale / Nick Harriss /
Vivek Bhardwaj +44 203 328 5656
Peterhouse Capital Limited (Broker)
Duncan Vasey / Lucy Williams +44 207 469 0930
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END
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