Director Loan

RNS Number : 3053G

Sabien Technology Group PLC

28 February 2018

 

For immediate release

28 February 2018

Sabien Technology Group plc
("Sabien" or the "Company")

Director Loan

As previously announced on 7 December 2017, the Company plans to raise additional equity funding in the early part of 2018 and the Chairman, Bruce Gordon, had confirmed to the Board that he intended to support the Company and participate in any such funding and subscribe for £100,000 and further that he would advance his subscription amount with no interest cost to support the Group until the fundraising was complete. Bruce Gordon has provided an additional £50,000 on similar terms on 27 February 2018 and the total amount of the advance now amounts to £150,000. The additional advance is a related party transaction under the AIM Rules and the Independent Directors consider, having consulted with the Company's Nominated Adviser, that the terms of the additional advance are fair and reasonable insofar as the Company's shareholders are concerned.

This announcement is inside information for the purposes of Article 7 of Regulation 596/20014.

For further information please contact:

Sabien Technology Group plc
Alan O'Brien	[phone]
Beaumont Cornish Limited Michael Cornish / Roland Cornish www.beaumontcornish.com (Nominated Advisor & Broker)	[phone]

ENDS

 

END

 

 

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