1st Aug 2007 09:19
General Capital Group PLC01 August 2007 General Capital Group plc ("General Capital" or "the Company") Shares sales in Sabien Technology Group plc and Helius Energy plc and Tradingupdate 1 August 2007 On 19 and 25 July 2007, Sabien Technology Group plc ("Sabien") madeannouncements concerning sales of Sabien ordinary shares by General CapitalVenture Finance Limited ("GCVF") a wholly owned subsidiary of the Company, inbreach of commercial lock-in arrangements entered into on 15 December 2006.Separately, on 25 July, Helius Energy plc ("Helius") announced that GCVF hadtraded in Helius shares on a number of occasions. These trades may also be inbreach of commercial lock-in arrangements entered into between GCVF and Helius. General Capital confirms that it has undertaken trades in the shares of bothSabien and Helius and are investigating the matter. Discussions are ongoing with both parties to determine what remedial actions areto be effected and what steps are to be implemented by General Capital in orderto ensure such breaches do not recur. Jonathan Hill, Executive Deputy Chairman of General Capital, has agreed to stepdown as a Non-Executive Director of both Sabien and Helius with immediateeffect. Trading update General Capital's trading at an operating level has been strong in the financialyear to date and the Company expects to announce results for the six monthsended 30 June 2007 that are in line with market expectations. For further information: General Capital Group plcJonathan Hill, Executive Deputy Chairman Tel: +44 (0) 1603 610 [email protected] www.generalcapital.co.uk Abchurch Communications LimitedHeather Salmond Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Collins Stewart Europe LimitedChris Wells/Mark Connelly Tel: +44 (0) 20 7523 8350 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sabien Tech.