Sabien Technology Group PLC Director Loan (3053G)
February 28 2018 - 11:32AM
UK Regulatory
TIDMSNT
RNS Number : 3053G
Sabien Technology Group PLC
28 February 2018
For immediate release
28 February 2018
Sabien Technology Group plc
("Sabien" or the "Company")
Director Loan
As previously announced on 7 December 2017, the Company plans to
raise additional equity funding in the early part of 2018 and the
Chairman, Bruce Gordon, had confirmed to the Board that he intended
to support the Company and participate in any such funding and
subscribe for GBP100,000 and further that he would advance his
subscription amount with no interest cost to support the Group
until the fundraising was complete. Bruce Gordon has provided an
additional GBP50,000 on similar terms on 27 February 2018 and the
total amount of the advance now amounts to GBP150,000. The
additional advance is a related party transaction under the AIM
Rules and the Independent Directors consider, having consulted with
the Company's Nominated Adviser, that the terms of the additional
advance are fair and reasonable insofar as the Company's
shareholders are concerned.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/20014.
For further information please contact:
Sabien Technology
Group plc
Alan O'Brien +44(0)20 7993 3700
Beaumont Cornish
Limited
Michael Cornish /
Roland Cornish
www.beaumontcornish.com
(Nominated Advisor
& Broker) +44(0)20 7628 3396
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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