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Pin to quick picksSabien Tech. Regulatory News (SNT)

Share Price Information for Sabien Tech. (SNT)

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Changes to Warrant Terms

18 Jan 2022 07:00

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.
 
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