Business
Statement re Press Comment
Statement re Press Comment.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 2410A Sabien Technology Group PLC 20 January 2020 \n\n \n \nFor immediate release \n20 January 2020\nSabien Technology Group plc\n(\"Sabien\" or the \"Company\")\nStatement regarding press speculation and suspension from trading on AIM\n \n \nThe Board of Sabien Technology Group plc (AIM: SNT) has noted the press report over the weekend regarding a possible transaction between the Company and Ptarmigan SA.\nThe Board confirms that it is in preliminary discussions regarding the possible acquisition of Ptarmigan SA by the Company. Should such a transaction proceed on the currently envisaged terms, it would be classified as a reverse takeover in accordance with the AIM Rules for Companies. Accordingly, the Company's shares are suspended from trading on AIM with immediate effect and will remain so until either the publication of an admission document setting out, inter alia, details of the proposed transaction or until confirmation is given that these discussions have ceased.\nPtarmigan is a health and leisure resort development company based in the valley of Evolene, in the Canton of Valais, Switzerland and is owned by the Truell family, a 25% shareholder of Sabien.\nShareholders should note that the proposed acquisition is at an early stage of discussion and subject to a number of pre-conditions and due diligence, and there can be no certainty therefore at this time that the acquisition will proceed as envisaged.\n \nA further announcement will be made in due course.\n \nSpecial note concerning the Market Abuse Regulation\nThis announcement contains inside information for the purposes of Article 7 of the Market Ab...