Last checked at 27 Jun 2016 09:42
24 June 2016
Sabien Technology Group plc("Sabien" or the "Company")
Share reorganisation and Notice of General Meeting
Sabien (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, announces that it is calling a General Meeting of shareholders today to be held at 10 a.m. on 13 July 2016 at 34 Clarendon Road, Watford, Herts WD17 1JJ in order to effect a reorganisation of the Company's share capital.
The current market price of the Ordinary Shares is less than the nominal value of such shares. Therefore the nominal value of the Company's ordinary share capital needs to be reduced in order to allow the Company to issue new Ordinary Shares should it decide to do so.
Accordingly, it is proposed to sub-divide and convert each issued Ordinary Share into one New Ordinary Share and one Deferred Share. The New Ordinary Shares will have the same rights (including as to voting, dividends and return of capital) as the Ordinary Shares. Further details are set out in the circular and Notice of General Meeting convening the General Meeting which has been posted to shareholders and is available from the Company's website at www.sabien-tech.co.uk.
For further information please contact:
Sabien Technology Group plc | |
Alan O'Brien | +44(0)20 7993 3700 |
Gus Orchard | |
Stockdale Securities Ltd | |
Antonio Bossi, Rose Ramsden | +44(0)20 7601 6100 |