Member Info for HOLDIT

Agreement for Establishment of SPV
Wed, 22nd Dec 2021 07:00

RNS Number : 4182W
Sabien Technology Group PLC
22 December 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

22 December 2021

Sabien Technology Group plc

("Sabien" or the "Company")

Formation of SPV for purchase and development of a Plastics Recycling Site

Sabien Technology Group plc, a Company focused on a Green Aggregation Strategy announces that it has today entered into an agreement with Parris Group Ltd, concerning the establishment and development of a Special Purpose Vehicle (the "SPV"). The focus of the SPV will be to buy and develop a plastic recycling site in the UK. It is intended that the plastic recycling site will incorporate the City Oil Field Inc. ("COF") proprietary technology, further information, including the meaning of the defined terms used herewithin, of which is available within the Company's announcement on 15 September 2021. Parris Group and Sabien will own 66.67% and 33.33% of the SPV respectively and are advancing initial loan facilities of up to £149k and £74k respectively, in addition to the initial share capital of £1k. This SPV has been registered on Companies House under the name b.grn Group Ltd (pronounced "Be Green").

Parris Group Limited is owned exclusively by Richard Parris, Executive Chairman of Sabien, and his family ("Parris Group"). On 30 November 2021, Parris Group secured a six-month period of exclusivity to evaluate and complete a potential transaction on the site owned by Greenfield Properties (UK) Limited near Northampton (together the "Exclusivity Agreement"). This site already has appropriate planning and regulatory approvals in place to accommodate a plastics-to-oil processing facility. Parris Group has agreed to assign the Exclusivity Agreement to the SPV at the cost value of £75k, which will be included in the Parris Group's initial loan balance. Sabien and Parris Group will advance cash into the SPV under their loan facilities in proportion to their shareholdings. Sabien's stake in the SPV will be accounted for as an associate in the Company's future consolidated accounts, on which it is expected to report a modest loss during the current financial year relating to the Exclusivity Agreement and the initial exploratory costs around developing a plastics recycling plant.

Parris Group will be represented on the SPV Board by Ian Wyatt and Jayne Murphy. Sabien will be represented by Ed Sutcliffe. Richard Parris will be the SPV Company Secretary. Jayne Murphy is the wife of Richard Parris. All members of the Board are experienced company directors.

In addition to any potential equity growth, Sabien's existing agency agreement with COF contracts that the operation of any such facility will generate a revenue stream for Sabien through the supply of technology, equipment and recurring support and maintenance. Sabi

This is VERY exciting news.

Take a look at the chart SamBark. A close anything above 30.75 will see us test 35/36. MA and indicators pointing north. The charts will take this up, no news required but when we get some more good news your guess is as good as mine how far up we go.
GLA

Higher highs and lower lows. Slowly up in line with the bullish moving averages. No need to ramp this - the charts are pointing higher and the recent RNS's are very encouraging. The spikes attract the wrong crowd, this will do me. Ticking up nicely.

The indicators on the charts are pointing north including the MA. I had 27.00 as a Fib support and it appears to have held.
Perhaps we will gravitate towards mid 30's now the weak longs have exited.

Proof that that the government are throwing money at green energy. There are targets to hit. Pioneering schemes always cost more, before prices tend to fall.
https://www.dailymail.co.uk/news/article-10265093/Swaffham-Prior-village-heat-pump-scheme-cost-250-000-house.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

I am. The City Oil / Proton deal has given me even more confidence that this stock will multi-bag. My opinion and by no means looking to ramp. Just in drawer and very very upbeat.

https://markets.ft.com/data/announce/full?dockey=1323-14833043-2D7FUCJ61V4H3URS3RSTQS3CEK

Lol. The remaining 30p warrants expire 22/01/22? These IMO are cleared.

I am in the same camp as you Iceman - have been waiting for the 200DMA to be breached. For me, and from a trading/pa perspective with no news this should trade higher.
GLA

Do not let the MM scumbags shake you out, they are offering it down at every opportunity running away when a buyer enters. If in any doubt read the last 5 x RNS's. This is a HOLD.

What a fantastic day and only just the start of it IMO.
If anybody has taken a look at the charts after today's close we are in bullish territory on a lot of the indicators including MA.
Today has been a much different day in terms of trading as the spike that pulled back in 2 days post City Oil RNS. The price action today, for me felt like this mover higher has been accepted.
GLA. Nearly 30% today and with positive news like today I can see this going only one way. So many 'traders' got topped and tailed on these on the last spike, my advise then and now is to put these in the drawer and do not let these scum bag market makers give them up, they need them too - make them pay up for them in time.

This is massive news.
Well done holders.

Fox has got City Oil over the line!

Try harder Sam!

There are a number of positives in recent RNS's - the promise to change direction and evidence that they have is a big plus for me. IMO the City Oil contract will be the golden egg. Sign off will lead to orders (subject to technology verification by Cambridge University ) , big orders that will see huge revenue from commission. I am confident this will be up and running soon making the current MC laughable. DYO, I have!
Here is a little ditty about Dr Fox. Now you can put the two together.
"Athan is passionate about science and technology that adds value to society and the environment. He is a PhD graduate in Chemistry from the University of Cambridge, and he also holds a First Class BSc in Chemistry and MPhil in Analytical Chemistry.
Following his PhD, Dr Fox worked as a trainee patent attorney, a Laboratory Manager at Cambridge University, and a Technology Transfer Associate at Cambridge Enterprise. In 2016 he took a licence from Cambridge University to commercialise innovative technology for the recycling of lead-acid batteries. He is currently involved in projects and businesses globally where the recycling of batteries, especially lithium-ion, alkaline and lead-acid batteries, is the core focus. His experience includes organic and analytical chemistry, drafting and prosecuting patent applications, technology transfer and commercialising innovation."

Your setting yourself up nicely Sam. Enjoy the Attention.

Only a fool would would get in the way of this.

SNT is no longer a one trick pony - some positive moves in the last 6 months. Catch up on the latest RNS’s Sam. I think you are trolling the wrong stock in the wrong sector here Sam!

It will go a long way when the market grasps that 'Net Zero' is not a smoke screen but a reality.
GLA