RE: PEDCO, Aramco in Bed with COF and SNT19 Jan 2026 10:16
COF taking shares at 11.87!!!!
Under the PSA, Sabien will acquire a minority equity interest in COF in return for COF acquiring an interest in Sabien. In addition, and subject to contract, Sabien's existing exclusive UK Sales Agency Agreement with COF will be extended for a further ten years and expanded to include additional international territories outside the Republic of Korea.
In a new development, the PSA also includes a shared intention to explore and develop international trade opportunities for sustainable oil products produced at the Wave Jeongeup plant for sale into the UK and EU.
Richard Parris, Executive Chairman of Sabien, said:
"The Proposed Strategic Agreement is expected to bind Sabien and COF in joint enterprise to ensure mutual success. Having witnessed first-hand the quality of engineering and operational performance at the Jeongeup RGO production plant, the board of directors of Sabien (the "Board") is confident in COF's technology and its global potential."
According to a report by the United Nations, more than 400 million tonnes of plastic are produced globally each year, half of which is designed for single use. Of this, less than 10% is currently recycled. Sabien, through its Proposed Strategic Agreement with COF, is positioning itself to deliver scalable, sustainable, and commercially viable solutions to this global environmental challenge-for the benefit of both shareholders and the planet.
Terms of the Proposed Strategic Agreement
Sabien has conditionally agreed to acquire 687,275 shares in COF, representing approximately 1.12 per cent. of the enlarged issued share capital of COF, for a total consideration of £600,000 (the "Consideration"). The Consideration is to be satisfied through the issue of 5,054,760 new ordinary shares of 3 pence each in the share capital of Sabien ("Ordinary Shares") at a deemed issue price of 11.87 pence per new Ordinary Share (the "Issue Price"). The Issue Price reflects Sabien's five-day volume-weighted average closing share price following the announcement of 2 October 2025.
Come on Richard I'll lend you a pen!
GL.
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