By Josh White
Date: Friday 26 Feb 2021
LONDON (ShareCast) - (Sharecast News) - Sabien Technology announced on Friday that it has invested £0.1m in Aeristech, which manufactures power-dense compressors for use in hydrogen fuel cells.
The AIM-traded firm said the investment was being funded by its existing resources as part of a £5.1m pre-initial public offering funding round completed by Aeristech.
Sabien had subscribed for 41,667 shares in Aeristech, equivalent to 0.3% of its issued share capital as enlarged by the funding round, at an issue price of £2.40 per share.
In addition, Aeristech issued Sabien with 10,417 warrants with a two-year term, with each warrant carrying the right to subscribe for one share in Aeristech at the issue price of £2.40.
"Sabien believes that environmental and shareholder benefits are not mutually exclusive," said chairman Richard Parris.
"We are focused on building a portfolio of solutions which reduce carbon dioxide production at the point of consumption.
"Aeristech fits this template completely - its work within hydrogen fuel cell optimisation is class-leading and the resulting technology will be, I am sure, capable of significant growth."
At 1402 GMT, shares in Sabien Technology Group were down 0.96% at 0.12p.
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Currency | UK Pounds |
Share Price | 7.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 13.75 |
52 Week Low | 7.21 |
Volume | 24,000 |
Shares Issued | 23.63m |
Market Cap | £1.77m |
Beta | 0.00 |
RiskGrade | 6,154 |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | n/a | 30-Oct-14 |
Paid | n/a | 28-Nov-14 |
Amount | 0.000p | 0.28p |
Time | Volume / Share Price |
08:03 | 24,000 @ 7.21p |
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