19
November 2024
Sabien Technology Group
plc
("Sabien" or the
"Company")
Issue of shares to
non-executive directors
Sabien (AIM: SNT), a leading
provider of energy reduction technologies, announces the issue
of new ordinary shares of 3p each in the capital of the Company
("Ordinary Shares") to Charles Goodfellow and
Ranald McGregor-Smith in satisfaction of their aggregated
outstanding remuneration of £43,750.
In line with the Company's cost
saving strategy as well as to allow Sabien to follow its growth
plans without unduly diluting shareholders in a difficult funding
environment, the Company's non-executive directors have
agreed to receive their outstanding remuneration in new Ordinary
Shares. This will allow the Company to carefully control its cash
flows.
In total, 448,717 new Ordinary
Shares have been issued (the "NED
Shares") at a deemed issue price of 9.75p per new Ordinary
Share. The following amounts will be settled in new Ordinary Shares
with fractional entitlements rounded down:
|
DIRECTOR
|
COUNTERPARTY
|
OUTSTANDING
REMUNERATION
£
|
PRICE PER NEW ORDINARY SHARE
PENCE
|
NEW ORDINARY SHARES
ISSUED
|
TOTAL BENEFICIAL INTEREST
POST ISSUE
|
|
Charles Goodfellow
|
Woodlands Lery Limited
|
17,500
|
9.75
|
179,487
|
279,487
|
|
Ranald
McGregor-Smith
|
Bridgend Finance Limited
|
26,250
|
9.75
|
269,230
|
269,230
|
|
|
|
43,750
|
|
448,717
|
|
Any VAT payable on the remuneration
will be paid in cash.
Admission to trading on AIM
On 18 November 2024, the Company
announced details of its annual general meeting to take place at
10.00 a.m. on 19 December 2024 at the offices of Peterhouse Capital
Limited, 80 Cheapside, London, EC2V 6DZ (the "AGM").
The Company also announced on 20
August 2024 the issue of 893,035 new Ordinary Shares at a deemed
issue price of 9.175 pence per new Ordinary Share to satisfy
£61,936 of the executive directors' outstanding remuneration and
£25,000 of other liabilities. The Company clarifies that due to a
clerical error the reference to 893,035 new Ordinary Shares was
incorrect and should have been 947,531 new Ordinary
Shares.
Application will be made to the
London Stock Exchange plc for the 448,717 NED Shares as well as the
947,531 new Ordinary Shares to be admitted to trading on AIM
("Admission").
Subject to the passing of the
necessary resolutions to allot and issue 1,396,248 new Ordinary
Shares at the Company's AGM, it is currently anticipated that
Admission will become effective and that dealings in the 1,396,248
new Ordinary Shares will commence on AIM at 8.00 a.m. on or around
23 December 2024.
Total voting rights
On Admission, the Company will
have 25,027,383 Ordinary Shares in issue, each with one
voting right. There are no shares held in treasury. Therefore,
the Company's total number of Ordinary Shares in issue and voting
rights will be 25,027,383 and this figure may 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.
Related party transaction
The issue of the 448,717 NED Shares
to Charles Goodfellow and Ranald McGregor-Smith is deemed to be a
related party transaction pursuant to rule 13 of the AIM Rules for
Companies (together the "Transaction"). Accordingly, Richard
Parris and Edward Sutcliffe (being the directors of the Company not
taking part in the Transaction) consider, having consulted with the
Company's nominated adviser, Allenby Capital, that the terms of the
Transaction are fair and reasonable insofar as the Company's
shareholders are concerned.
The directors of the Company agree
that as part of the Company's ongoing cost saving strategy it
reserves the right in the future to issue new Ordinary Shares to
directors of the Company in satisfaction of their outstanding
remuneration.
The FCA notification, made in
accordance with the requirements of the UK Market Abuse Regulation,
is set out at the end of this announcement.
|
For
further Information, please contact:
Sabien Technology Group
plc
Richard Parris, Executive
Chairman
|
+44 20
7993 3700
investors@sabien.com
|
|
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
|
About Sabien Technology Group plc
Sabien Technology Group plc provides energy reduction solutions
designed to help businesses achieve their sustainability goals,
with a particular focus on reducing energy consumption and carbon
emissions.
The Sabien Technology Group plc holds
the Green Economy Mark from the London Stock Exchange, recognising
companies generating over 50% of their revenues from sustainable
products and services.
Website: www.sabien.com
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
|
Name
|
Position
|
|
Charles Goodfellow
|
Non-Executive Director
|
|
Ranald McGregor-Smith
|
Non-Executive Director
|
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
See above.
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
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 the financial
instrument, type of instrument
Identification code
|
Ordinary shares of 3 pence each in
Sabien Technology Group Plc ("Ordinary Shares")
Identification code (ISIN) for
Sabien Technology Group Plc ordinary shares:
GB00BN6JG812
|
|
b)
|
Nature of the transaction
|
Issue of new Ordinary
Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Name
|
Number of new Ordinary
Shares
|
Price
|
|
Charles Goodfellow
|
179,487
|
9.75
pence
|
|
Ranald McGregor-Smith
|
269,230
|
9.75
pence
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
- See above
- See above
|
|
e)
|
Date of the transaction
|
18 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|