Business
Posting of Circular and Notice of General Meeting
Posting of Circular and Notice of General Meeting.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5248K\n Sabien Technology Group PLC\n 05 January 2021\n \n \n \n 5 January 2021\n Sabien Technology Group plc\n (\"Sabien\" or the \"Company\")\n Posting of Circular and Notice of General Meeting\n The Board of Sabien announces that the Company has posted (and otherwise make available on the Company's website at www.sabien-tech.co.uk) to shareholders a circular (\"Circular\") containing a notice convening a general meeting of the Company (the \"General Meeting\") along with a form of proxy. The purpose of the General Meeting is to seek shareholder approval of a resolution in connection with the recently announced proposed acquisition of Ptarmigan Health Destinations SA (the \"Proposed Acquisition\").\n \n Reasons for and background to the General Meeting\n \n The Company's ordinary shares are currently suspended from trading on AIM. The Company has twelve months from 20 January 2020 in which to publish an Admission Document in relation to the Proposed Acquisition, or to confirm that the discussions concerning the Proposed Acquisition have ceased. Despite progress being made, it is extremely unlikely that the Company will be able to publish an admission document by 20 January 2021, and this will result in cancellation of admission to trading on AIM of the Company's securities. Even though the Company's securities will be cancelled from trading on AIM in such case, the Company still intends to complete the Proposed Acquisition and will re-apply for admission of the enlarged group's ordinary shares to trading on AIM.\n \n The Directors believe that it is in the best interests of the Company to ascertain at this stage the sentiment of Shareholders with regard to the Proposed Acquisition. As such, the Ordinary resolution (the \"Resolution\") included in the notice convening the General Meeting reads: \"That the proposed acquisition by the Company of the entire issued and to be issued share capital of Ptarmigan Health Destinations SA, pursuant to the terms of the Acquisition Agreement, be and is hereby approved with such revisions and amendments (including as to price) of a non-material nature as may be approved by the Directors or any duly authorised committee thereof, and that all acts, agreements, arrangements and indemnities which the Directors or any such committee con...