Sabien Technology losses narrow, to raise more capital
Source - SMW
Energy-saving device company Sabien Technology Group said it needed to raise more capital after first-half losses narrowed.
The company booked a pre-tax loss of £233k, compared to a £826k loss for the same period a year earlier, as sales revenue rose.
'The board is still targeting monthly breakeven by December 2018, although the group will continue to need to raise additional equity funding to provide further working capital,' the company said.
'The group plans to raise additional equity funding during the first quarter of 2018 and the chairman, Bruce Gordon, has re-confirmed his intention to subscribe for £100,000 of new ordinary shares in such a funding as and when it proceeds.'
At 1:47pm: (LON:SNT) Sabien Technology Group PLC share price was 0p at 0.38p