Result of General Meeting and Board changes

For immediate release

13 December 2018

Sabien Technology Group plc

("Sabien" or the "Company")

Result of General Meeting

Board changes

Result of General Meeting

The Board of Sabien is pleased to announce that all the resolutions ("Resolutions") to approve, inter alia, the reorganisation of the Company's share capital ("Reorganisation") whereby each existing ordinary share of 0.5 pence each would be subdivided into one new ordinary share of 0.01 pence ("New Ordinary Share") and one new deferred share of 0.49 pence ("New Deferred Share"), were approved today at the Company's General Meeting.

As previously announced, the record date of the Reorganisation is close of business today and Admission to AIM of the New Ordinary Shares pursuant to the Reorganisation and dealings therein will therefore commence on 14 December 2018. 

On 23 November 2018, the Company also announced that the Company's broker, Peterhouse Capital Limited, had conditionally raised gross proceeds of £400,000 via the placing of 400,000,000 new ordinary shares in the Capital of the Company (the "Placing Shares") with new and existing investors, at a price of 0.1 pence per Placing Share. The Placing was conditional, inter alia, on the approval of the Resolutions which were approved at the General Meeting.

The Placing Shares will rank, pari passu, with the New Ordinary Shares. Application has been made for the Placing Shares to be admitted to trading on AIM ("Admission"), which will also become effective on 14 December 2018.

Following completion of the Reorganisation and Placing, the enlarged issued share capital of the Company comprises 590,254,867 New Ordinary Shares of 0.01 pence each.

Board Changes

Immediately following the General Meeting, Mr John Taylor has been appointed to the Board as an Interim Non-Executive Chairman. The Board anticipates making additional new Board appointments in due course. Mr Bruce Gordon has stepped down from the Board of the Company with immediate effect to focus on other business ventures. The Board would like to thank Mr Gordon for his contribution to the Company over the years would like to wish him every success in his future endeavours.

Further AIM disclosures relating to Mr Taylor's proposed appointment

Mr Taylor works with a group who assist small cap technology stocks with their development. Prior to that he spent eighteen months working in private equity backed portfolio companies, driving operational turnaround initiatives and implementing costing systems. He also spent over 20 years in the Army Air Corps, leaving in 2015 with the rank of colonel. Between 2013 and 2015 he was senior strategic communications officer for the Ministry of Defence. He joined the Board of Kin Group plc (subsequently renamed Bidstack Group plc) in November 2017.

Further disclosures on Mr Taylor as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are as follows. John Edward Taylor (age 46), has held the following directorships and/or partnerships in the past five years:

Mr Taylor subscribed for 5,000,000 Placing Shares pursuant to the Placing. There is no further information to be disclosed in relation to Mr Taylor's appointment pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

Total Voting Rights

In conformity with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority ("FCA"), with effect from 13 December 2018, the Company's issued share capital consists of 590,254,867 New Ordinary Shares of 0.01 pence each with voting rights. The Company does not hold any New Ordinary Shares in Treasury. Therefore, the total number of New Ordinary Shares in the Company with voting rights is 590,254,867.

The above figure of 590,254,867 may be used by shareholders 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.

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