Admission of Placing and Subscription Shares

RNS Number : 1464U

Sabien Technology Group PLC

28 July 2015

 

28 July 2015

Sabien Technology Group plc
("Sabien" or the "Company")

Admission of Placing Shares and Subscription Shares

Sabien (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, is pleased to announce that, further to its announcement of 20 July 2015 relating to the conditional placing of 9,860,000 new ordinary shares of 5 pence each (the "Placing Shares") and the subscription of 1,140,000 new ordinary shares of 5 pence each (the "Subscription Shares") by TVI 2 Limited, the Company has received the required advance assurances from HMRC.

HMRC has confirmed that: (i) the Placing Shares will be eligible shares for the purposes of section 285(3) of the Income Tax Act 2007 and the Placing Shares held by venture capital trusts will be "qualifying holdings" for the purposes of Chapter 4, Part 6 of the Income Tax Act 2007; and (ii) the Company will be a "qualifying company" and the Placing Shares will be eligible shares for the purposes of the Enterprise Investment Scheme.

Admission

Application has been made for admission of the Placing Shares and Subscription Shares to trading on AIM ("Admission") and it is anticipated that Admission will occur on 3 August 2015. Admission remains conditional on the placing agreement between the Company and Westhouse Securities and the subscription agreement between the Company and TVI 2 Limited becoming unconditional and not being terminated in accordance with their terms.

Total Voting Rights

Following Admission the total enlarged issued share capital of the Company will be 44,004,867 ordinary shares of 5 pence each. This figure 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, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

Sabien Technology Group plc
Alan O'Brien	[phone]
Gus Orchard
Westhouse Securities Ltd
Andy Crossley, Antonio Bossi, Rose Ramsden	[phone]

 

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