Issue of shares to directors
Directors issued 1.77 million shares at 7.7p to settle £135,990 remuneration debt.
- Outstanding remuneration settled £135,990
- New ordinary shares issued 1,766,102
- Deemed issue price per share 7.7p
- Richard Parris beneficial interest post-issue 26.65%
- Total voting rights post-Admission 26,793,485
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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 the Sabien board of directors (the "Board" or the "Directors") in satisfaction of their aggregated outstanding remuneration of £135,990.
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 Board have agreed to receive their outstanding remuneration in new Ordinary Shares. This follows the Company's notification on 19 November 2024, where it was noted that as part of the Company's ongoing cost strategy it reserves the right in the future to issue new Ordinary Shares to the Board in satisfaction of their outstanding remuneration.
In total, 1,766,102 new Ordinary Shares have been issued to the Board (the "Board Shares") at a deemed issue price of 7.7p per new Ordinary Share, the average of the last five days' closing share prices. 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 | PERCENTAGE OF ENLARGED SHARE CAPITAL OF ADMISSION |
|---|---|---|---|---|---|---|
| Richard Parris | Parris Group Limited | 57,500 | 7.7 | 746,753 | 7,140,175 | 26.65% |
| Edward Sutcliffe | TVI Group Limited | 22,240 | 7.7 | 288,829 | 473,418 | 1.77% |
| Charles Goodfellow | Woodlands Lery Limited | 22,500 | 7.7 | 292,208 | 571,695 | 2.13% |
| Ranald McGregor-Smith | Bridgend Finance Limited | 33,750 | 7.7 | 438,312 | 707,542 | 2.64% |
| 135,990 | 1,766,102 |
Any VAT payable on the remuneration will be paid in cash.
Admission to trading on AIM
Application will be made to the London Stock Exchange plc for the 1,766,102 Board Shares to be admitted to trading on AIM ("Admission").
It is currently anticipated that Admission will become effective and that dealings in the 1,766,102 new Ordinary Shares will commence on AIM at 8.00 a.m. on or around 4 July 2025.
Total voting rights
On Admission, the Company will have 26,793,485 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 26,793,485 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.
| 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 | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Name Position Richard Parris Executive Chairman Edward Sutcliffe Chief Financial Officer 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 |
| a) | Name | Sabien Technology Group Plc |
| b) | LEI | 213800S5QG1SMGHFHY68 |
| 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 Richard Parris 746,753 7.7 pence Edward Sutcliffe 288,829 7.7 pence Charles Goodfellow 292,208 7.7 pence Ranald McGregor-Smith 438,312 7.7 pence |
| d) | Aggregated information - Aggregated volume - Price | - See above - See above |
| e) | Date of the transaction | 30 June 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.