Sabien Technology Share Discussion Threads

[wjccghcc] 19/1/2012 08:53

Yup GHF :)

Not so sure about SAL, mainly because of the spread and liquidity.

[glasshalfull] 19/1/2012 08:45

WJ - ditto.

UBI and now SNT...are you stalking me? ;-)

Thanks for the update mas

Regards
GHF

[masurenguy] 19/1/2012 08:44

Yes, they're very illiquid. You can only buy a maximum of 1000 shares @29p online this morning. Glad that I topped up @24p earlier in the month.

[wjccghcc] 19/1/2012 08:26

I've been picking up some at 24-25p. Hard to do though.

[masurenguy] 19/1/2012 08:21

The Offer has gradually moved up by 22% on a miniscule volume over the past week, as we head into the results that are due in just under 3 weeks time.

[ansc] 12/1/2012 10:04

Another step in the right direction:

'Sabien Technology Group PLC ("Sabien", "the Group" or "the Company") - 12 January 2012

Capital reorganisation

Sabien Technology Group plc, the manufacturer and supplier of M2G, a boiler energy efficiency technology, is pleased to announce that the Court has approved the cancellation of the Company's share premium account, approved by shareholders by resolution at the Company's Annual General Meeting on 23 November 2011.

This reorganisation will enable the Company to accelerate the payment of dividends to its shareholders should its results so permit.

Such cancellation has now become effective as the Court order and other required documents in relation to the cancellation have been lodged with the Registrar of Companies and registered by him. As a result, the Company's share premium account, which was standing at GBP3,422,256.59, has been cancelled and this sum has been applied to the reduction of accumulated losses of GBP3,273,284.37. As part of the transaction, the Court required an undertaking from the Company that all creditors would be protected. The Company confirms that all creditors at the time of the transaction have been paid and that there is no further reason for the reserve created by the cancellation of the share premium account not to be treated as distributable.'

[ansc] 09/1/2012 10:10

Sabien Technology Group plc ("Sabien" or "the Company") - 9 January 2012

Notice of Results

Sabien Technology Group plc (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, announces that it will be publishing its interim results for the six months ended 31 December 2011 on 7 February 2012.

[ansc] 06/1/2012 14:00

Having watched patiently from the sidelines since the results annoucement in October, dipped my toe in the water for 10k just now at a surprising price of 23.5p. Not sure why the share price has been softening recently but I'm not complaining!

[masurenguy] 20/12/2011 15:58

Amati have commented on the initial investment position that they took in Sabien last month. They purchased Sabien for both their Small Companies Fund and their VCT for the very first time in November buying stock at a discount direct from SE Global.

"For the first time since 2009 we found ourselves buying holdings in two very small companies or in other words increasing our liquidity risk. The first was in Sabien Technology where we believe the company's product has gained market acceptance and should now start to see accelerating sales. A stock overhang had artificially depressed the share price so we put in a low bid and bought out this position at a 35% discount to what we saw as an already undervalued share price."

[masurenguy] 22/11/2011 17:34

JS - actually L&G bought the 304,153 share quantity so the 303,000 share sale does not have a corresponding buy transaction. Unless there is an error in the share transaction report - and there are errors reported from time to time - then there was another seller on that date but the quantity of 303,333 is mystifying since it corresponds to the balance of the SEG share sale after Amati had picked up the 3m.

Sabien is a very illiquid small cap - just 31.5m shares in issue - so the price and the spread is determined by the MM's. A logical explanation might be that there was another seller but I would be surprised if the MMs took around 300,000 shares without a corresponding buyer. However stranger things have happened and it is possible that they did and reduced the Bid to deter any other sellers and the Offer to attract other buyers. I added a few at 24p too. I can't give you a definitive explanation but suspect that there was another seller which prompted the MMs to drop the price purely on a supply/demand basis.

[joesoap3] 22/11/2011 17:13

MAS, I'm still somewhat confused by this whole situation.

SE made a distressed sale at 18.75 of 3,303,333 and Armati bought 3 million and L&G 303,333. That we know for fact. So that equals out the transactions

There is also a transaction of 304,000 shares at 18.75p that shows as a sell but could be a buy as when I heard about L&G buying, I also heard that another existing institutional shareholder had also bought but I dont know which one. However I dont know how they bought at 18.75p as well. Of course that transaction could also be a sell, but would that alone cause such a big drop in the share price on its own.

I tried a test transaction this morning and got a spread of 23 -26.75p which is quite large really at that price.

I would like to think this is a buying opportunity but don't like such large spreads even though I am buying to invest rather than trade but am nervous in these current conditions

Basically my question would be, why - given the SE/Amati/L&G transaction has it caused such a big distortion in the spread/share price

[masurenguy] 21/11/2011 14:24

Confirmation that L&G picked up the 10% residual 304K shares from SE Global following Amati VCT's purchase of 3m !

RNS Number : 4451S
Sabien Technology Group PLC
21 November 2011

Holding(s) in company

Sabien announces that Legal & General Group Plc holds 1,904,153 ordinary shares of 5p each representing 6.04% of the Company's issued share capital.

[masurenguy] 18/11/2011 13:16

The institutional Buys and Sells would all have been at 18.75p because they were direct deals so, in effect, they just cancelled each other out. However the end result was that the MMs partially marked the price down to a Bid/Offer spread of 20 - 25 and therefore they've provided a good buying opportunity.

[joesoap3] 18/11/2011 12:31

Just heard also that Legal and General also bought some more yesterday and that 2 if not 3 of the 4 trades at 18.75p were actually buys rather than sells. Could be a good opportunity to buy if all this has been known about by the market market makers and it has now been resolved

[masurenguy] 18/11/2011 12:10

Thanks for the update on your conversation with the CEO. Also interesting to know the price that SE Global originally paid. It just goes to show that if you want to exit a large position in a small cap then you often have to arrange a direct deal with another major shareholder. That can then be way below the Bid if you want to sell and way above the Offer if you want to buy.

[joesoap3] 18/11/2011 11:39

Mas,

Thanks for that. I think it must have felt as though birthday and christmas had come early !!!!

I e-mailed the company yesterday basically asking if there would be any announcement and for assurance that all is ok with the company. This morning I got a phone call from Alan O'Brien which was unexpected and very nice I thought.

He basically confirmed what you have said above but added that something may be announced soon probably confirmation from SE Global as to the sale. He went on to confirm that the company itself was sound and nothing had changed within the company from previous announcements. He said he considered that the company was grossly undervalued.

I did ask him about the continuous drip selling over the last few months and whether the company could not try and raise their profile within the financial press to promote the company as a buy for investors. He explained that he was in constant touch with financial journalists but that after the mail on sunday item 18mths ago, it was closely followed by an unexpected delay by clients in signing some new contracts which was outside Sabien's control and so it was perceived as a disappointment by the press. Once it becomes apparent that Sabien has established itself, and is rcognised as, a market leader, positve press comment may return.

All in all in was a good conversation and I felt a lot more confident that this actually now presents a good buying opportunity for Sabien

What I didnt know was that SE Global had bought the shares at around 5 or 6p so despite selling at such a low price they have still made a packet out of it

[masurenguy] 17/11/2011 14:45

joesoap3 - 78: It would be nice if we got some kind of announcement about what the hell has gone on here today. If it's a distressed seller bailing out then I can live with that but is there an underlying reason that they have sold that they know about, then surely all shareholders should be told

What else is there to announce ? SE Global have obviously sold their holding as I indicated in #76 above and the Amati VCT has picked up 90% of it at the bargain price of 18.75p. The company has already issued an RNS reporting the Amati purchase but unless SE Global formally notify them of their sale then they cannot issue another RNS reporting it - see previous discussion in #73 above.

Nobody outside SE Global will know what their motivation was to sell. It was evidently a distressed sale at 30% below the Bid price and was clearly directly transacted with Amati. If there was any material change to Sabien's trading position, from the situation that they reported in their year end results published last month, and quoted by drw1 in #79 above, then they would clearly have had a duty to inform the market. Since those results were published, all they have reported is a further £347,000 contract win from BT. I think that the Amati VCT must think that Christmas has come early this year.

[drw1] 17/11/2011 13:59

Buying Opportunity or has something changed? 'Looking ahead, our Company has never been stronger or better positioned to capitalise on the increasing demand for our proven energy efficiency technologies.

The Group has made a good start to the new financial year and since 1 July 2011 has received purchase orders totalling GBP0.8m, an increase of 38% over the same period last year, all of which will be recognised as revenue in the first half of the current financial year.

The size of our business pipeline at c.GBP8.3m is at a record level. We have a high quality customer base which includes many local authorities and blue-chip private and large public companies. These facts plus the level of orders received, which represent to a large extent initial phases of roll-out and which should generate significant future revenues, along with a well-controlled cost base, all enable the Directors to feel very confident about the future.'

[joesoap3] 17/11/2011 13:14

It would be nice if we got some kind of announcement about what the hell has gone on here today. If it's a distressed seller bailing out then I can live with that but is there an underlying reason that they have sold that they know about, then surely all shareholders should be told

[masurenguy] 17/11/2011 11:52

Well there it is - 3m of the 3.3m have been picked up by the Amati VCT !

[masurenguy] 17/11/2011 11:24

Something cooking here ! It looks as though SE Global (the largest external shareholder) has unloaded their total shareholding of 3,303,333 @18.75p (at 30% below the Bid) at what would appear to be a distressed price, to someone else. There are at least 5 other post threshold institutional shareholders - checkout the header - who might have been the buyers, or possibly a director. Karl Monaghan, an NXD, picked up 1m shares from Nortrust who exited in March 2009 at nearly a 50% discounted price of 2.5p.

If any of the above were the buyers we should see an RNS announcement over the next 2 or 3 days !

[masurenguy] 07/11/2011 08:25

It is not a question of taking offence but more an issue of getting irritated when someone disputes a point that I have made and suggests that I checkout the rules rather than doing so themselves since they are questioning or disputing the issue in the first place. I have been around this particular loop before with other companies and therefore I do know what I am talking about here.

[goliard] 07/11/2011 08:16

My experience is main market rather than AIM. No interest in spending the hours required on their rules too, just wondered how you knew this and was asking how you knew you were correct. Please don't take offence.

[masurenguy] 07/11/2011 08:10

An offshore shareholder cannot be compelled to report a share transaction in a UK listed company - fact ! There is no legal jurisdiction to enforce those rules. A company may be aware of any such transaction but they cannot officially report it unless formally notified by the actual shareholder.

Why don't you check out the reality with the regulator. [e-mail]