28th Jul 2015 14:06
LONDON (Alliance News) - Sabien Technologies Group PLC on Tuesday said Non-Executive Director Karl Monaghan will, as part of its share placing, receive 140,000 shares at 7 pence per share.
As a result, after August 3, Monaghan's holding in Sabien will be 1.4 million shares, representing 3.2% of the enlarged issued share capital.
The energy-efficient technology company said last Monday it has raised GBP770,000 via a share placing. Sabien said it has placed a total of 9.9 million shares at 7 pence per share with institutional investors and has issued a further 1.1 million shares at the same price to TVI 2 Ltd, an existing shareholder in Sabien. Sabien said the placing was oversubscribed and said the proceeds will back its plans to roll out more pilot projects for its M2G technology.
Shares were up 2.5% at 8.20p Tuesday afternoon.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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