Sabien Technology Group PLC Fundraise and appointment of sole broker (8391I)

TIDMSNT

RNS Number : 8391I

Sabien Technology Group PLC

26 March 2018

FOR IMMEDIATE RELEASE

26 March 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 GBP400,000 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         Beneficial     Percentage of 
                Ordinary Shares   shareholding   Ordinary Shares 
                pursuant to       following      as enlarged by 
                Placing           Placing        the Placing 
-------------  ----------------  -------------  ---------------- 
Bruce Gordon 
 - Chairman       14,768,479      44,768,479         23.54% 
-------------  ----------------  -------------  ---------------- 
 

B. 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      Initial 
       /Amendment 
---  ------------------------  ----------------------------- 
 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            Ordinary shares of 0.1 pence 
       the financial             each in Sabien Technology 
       instrument, type          Group plc 
       of instrument             GB00B1FPCD38 
       Identification 
       code 
---  ------------------------  ----------------------------- 
      Nature of the             Purchase of ordinary shares 
       transaction 
---  ------------------------  ----------------------------- 
 c)   Price(s) and                Price(s)    Volumes(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              LSE, AIM (XLON) 
       transaction 
---  ------------------------  ----------------------------- 
 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information:

 
 Sabien Technology Group plc 
  [phone] 
  Alan O'Brien 
 Beaumont Cornish Limited (Nominated 
  Advisor) 
  [phone] 
  Michael Cornish and Roland Cornish 
  www.beaumontcornish.com 
 Peterhouse Corporate Finance Limited 
  (Sole Broker) 
  [phone] 
  Martin Lampshire and Fungai Ndoro 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 26, 2018 02:00 ET (06:00 GMT)