Sabien Technology Group PLC Changes to Warrant Terms (7425Y)
January 18 2022 - 2:00AM
UK Regulatory
TIDMSNT
RNS Number : 7425Y
Sabien Technology Group PLC
18 January 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
18 January 2022
Sabien Technology Group plc
("Sabien" or the "Company")
Changes to Warrant Terms
Sabien Technology Group plc, a Company focused on a Green
Aggregation Strategy announces that the board of directors of the
Company (the "Board") yesterday agreed to amend the terms of the
warrants originally announced on 20 January 2021 (the "Warrants").
Following last year's share capital consolidation and those warrant
exercises that have taken place so far, there are 8,283,331
Warrants outstanding. The Warrant terms will be amended as
follows:
-- The final exercise date will be extended from 19 January 2022 to 4 February 2022; and
-- Any Warrant holder who exercises at least 25% of their
Warrants between 20 January 2022 and 2 February 2022 will be
granted one Bonus Warrant for each Warrant exercised.
All other Warrant terms will remain unchanged. The Bonus
Warrants will have the following key terms:
-- An exercise period which expires on 5 February 2023;
-- An exercise price of 45 pence per new ordinary share of 3
pence each in the capital of the Company ("Ordinary Shares");
-- Transferrable (however no application will be made for
admission to trading on any recognised trading platform); and
-- The Bonus Warrants will have a call option whereby in the
event that the Ordinary Shares closes above 40 pence per Ordinary
Share (mid-market closing price on AIM), the Company has the right
(but not the obligation) at any time thereafter to call warrant
holders to exercise all warrants held by them within 7 days. Any
warrants not exercised when so required by the Company will
automatically expire at the end of the 7-day period.
Further Information:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
Allenby Capital Limited (Nominated Adviser)
John Depasquale / Nick Harriss / Vivek Bhardwaj +44 20 3328 5656
Peterhouse Capital Limited (Broker)
Duncan Vasey / Lucy Williams +44 20 7469 0930
The person who arranged for the release of this announcement on
behalf of the Company was Richard Parris, Executive Chairman.
A copy of this announcement will be available from the Company's
website at www.sabien.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUBVARUAUAAUR
(END) Dow Jones Newswires
January 18, 2022 02:00 ET (07:00 GMT)
Sabien Technology (LSE:SNT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sabien Technology (LSE:SNT)
Historical Stock Chart
From Sep 2023 to Sep 2024