Statement re Press Comment

RNS Number : 2410A

Sabien Technology Group PLC

20 January 2020

 

For immediate release                                                                                                                

20 January 2020

Sabien Technology Group plc

("Sabien" or the "Company")

Statement regarding press speculation and suspension from trading on AIM

The Board of Sabien Technology Group plc (AIM: SNT) has noted the press report over the weekend regarding a possible transaction between the Company and  Ptarmigan SA.

The Board confirms that it is in preliminary discussions regarding the possible acquisition of Ptarmigan SA by the Company. Should such a transaction proceed on the currently envisaged terms, it would be classified as a reverse takeover in accordance with the AIM Rules for Companies. Accordingly, the Company's shares are suspended from trading on AIM with immediate effect and will remain so until either the publication of an admission document setting out, inter alia, details of the proposed transaction or until confirmation is given that these discussions have ceased.

Ptarmigan is a health and leisure resort development company based in the valley of Evolene, in the Canton of Valais, Switzerland and is owned by the Truell family, a 25% shareholder of Sabien.

Shareholders should note that the proposed acquisition is at an early stage of discussion and subject to a number of pre-conditions and due diligence, and there can be no certainty therefore at this time that the acquisition will proceed as envisaged.

A further announcement will be made in due course.

Special note concerning the Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").

The person who arranged for the release of this announcement on behalf of the Company was Richard Parris, Chairman and Director.

For further information:

Sabien Technology Group plc    Richard Parris, Chairman	[phone]
Beaumont Cornish Limited (Nominated Advisor) Michael Cornish and Roland Cornish      www.beaumontcornish.com	[phone]
Peterhouse Capital Limited (Broker) Duncan Vasey and Lucy Williams	[phone]

A copy of this announcement will be available from the Company's website at www.sabien-tech.co.uk

 

END

 

 

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