Following discussions between our Board of Directors and that of SBS Technology Ltd, in which we have a 76% controlling stake, it has been agreed that the very limited offering in SBS Technology shares will be revised to a £30 per share minimum initial price. The reasons for this are the growth and traction of the E.A.E portal system which is in constant upgrade and is covering an ever-widening range of companies.
Richard Murray, Chairman of SBS/Director of SBS Tech says:
“We can confirm the continuing policy of the growing of our businesses with zero debt whilst remaining conscious of our capital needs. The Group balances constantly the issuance of further shares offset by the strength of our business which is bringing revenue and Launch Value participation growth together at a rapid rate. A full business update will be made available at the end of November or such earlier times as we deem necessary.”
In agreement with our controlling shareholder SBS Group Ltd, we remain commercially aware that equity raisings are predicated on capital need but must be kept under revision when such a strong growth model is prevalent.
Lee Clarke Director of SBS technology says:
“We are delighted with the continued progress and evolvement of the portal and its many facets and will be providing constant updates with a full business review at the end of the month.”