By Iain Gilbert
Date: Tuesday 03 Sep 2019
LONDON (ShareCast) - (Sharecast News) - Energy-efficient technology manufacturer Sabien Technology appointed former Intercede chairman Richard Parris to take over the role of non-executive chairmn on Tuesday, effective immediately.
In addition to Parris' appointment, Sabien also announced a conditional subscription by the Truell Intergenerational Family Limited Partnership for 296.75m new ordinary shares of 0.11p each, a 26% premium to the firm's closing mid-market share price on 2 September.
On completion of the subscription, TIG will hold a 25% stake in the enlarged issued share capital of the company.
Sabien intends to use the proceeds of the subscription, amounting to approximately £326,427, to launch the development of an internet-of-things application based on its existing products and to support the conversion of existing business into a subscription-based model, with a particular emphasis on growing its US sales.
Elsewhere, Sabien expects to have swung to a profit in its recently wrapped up trading year.
Sabien told investors that revenues were projected to have been in the vicinity of £1.2m, a marked improvement on the £510,000 brought in a year earlier. The group also expects to record a small pre-tax profit, a significantly better result than the £1.65m pre-tax loss reported twelve months prior.
As of 0905 BST, Sabien shares were trading 37.14% stronger at 0.12p.
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Currency | UK Pounds |
Share Price | 12.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 15.25 |
52 Week Low | 7.50 |
Volume | 2,714 |
Shares Issued | 23.20m |
Market Cap | £2.90m |
RiskGrade | 6,154 |
Value |
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Price Trend |
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Income |
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Growth |
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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 |
16:27 | 123 @ 12.58p |
16:17 | 384 @ 12.01p |
16:11 | 123 @ 12.58p |
11:08 | 2,084 @ 12.05p |
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