Exercise of Warrants

RNS Number : 0272O

Sabien Technology Group PLC

01 August 2014

 



Sabien Technology Group plc

("Sabien" or the "Company")

Exercise of Warrants

Sabien Technology Group plc (AIM: SNT) announces that it has received an exercise notice from TVI 2 Limited ("TVI") to exercise warrants over 1,518,356 ordinary shares of 5p each in the Company ("Ordinary Shares") at an exercise price of 6.42 pence per Ordinary Share. Accordingly, the Company will issue 1,518,356 Ordinary Shares in settlement of this exercise (the "Warrant Exercise"). These warrants were granted on 7 August 2009 as part of a loan agreement. The loan was repaid in October 2009 at which time the terms of the original TVI warrants were varied.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares and application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence on 6 August 2014.

Following the Warrant Exercise, the Company's issued share capital will consist of 33,004,867 Ordinary Shares with voting rights. The Company holds no shares in treasury. This number 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 share capital of the Company.

Following the Warrant Exercise, TVI holds 2,968,356 Ordinary Shares representing 8.99% of the Company's issued share capital and TVI no longer has any outstanding warrants to subscribe for Ordinary Shares in the Company.

For further information:

Sabien Technology Group plc
Alan O'Brien, CEO Gus Orchard, CFO	Tel: [phone]  www.sabien-tech.co.uk
Westhouse Securities	Tel: [phone]
Antonio Bossi    Henry Willcocks

Background:

Sabien Technology is a UK-based company which specialises in providing proven and commercially viable technology to reduce carbon emissions and energy usage for private and public organisations.

The M2G is a patented energy efficient technology designed to reduce fuel consumption in commercial boilers. M2G dynamically responds to changing load demand by measuring, identifying and removing dry cycling thus maximising efficiency under all conditions.

M2G is retro-fitted to commercial boilers regardless of age and size and fully integrates and complements existing controls, such as BMS, boiler sequencing, weather compensation and building optimisation controls. Using intelligent software and hardware, the M2G unit improves a boiler's efficiency by reducing energy wastage. For further information, please visit our website www.sabien-tech.co.uk.

 

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