RE: Better2 Jun 2026 07:05
Proposed balance sheet strengthening, proposed debt reduction and update on M2G
Sabien Technology Group plc (AIM: SNT), the manufacturer and provider of energy reduction technologies, announces a series of actions and proposals designed to strengthen the Group's balance sheet, simplify its corporate structure and enhance its strategic focus on the commercial deployment of its M2G technology platform.
Highlights
• £213,708 cash received from b.grn Group Limited ("b.grn") through settlement of management service fees, repayment of an intercompany loan and partial settlement of a fixed profit share entitlement associated with the Company's historical City Oil Field Inc. ("COF") investment.
• Proposal to use a substantial proportion of the proceeds received from b.grn to pay £127,500 to Parris Group Ltd in cash by 30 June 2026 in connection with the related party funding provided to the Company, as announced on 20 August 2024.
• Proposed capitalisation of approximately £179,409 of directors' remuneration accrued in FY2026 through the issue of new ordinary shares of 3 pence each in the share capital of the Company ("Ordinary Shares").
• Settlement of £40,000 of broker fees through the issue of new Ordinary Shares.
• Actions and proposals are expected to materially reduce the Company's liabilities, strengthen the balance sheet and improve the Company's financial flexibility.
• Sabien's direct financial exposure to b.grn will be materially reduced while retaining an equity interest and exposure to potential future value creation. Following these actions, the board of directors of Sabien (the "Board" or the "Directors") believe that the future funding requirements of Sabien and b.grn can be clearly separated and assessed independently.
• Additional funding secured by b.grn to support its ongoing activities and greater financial independence.
• Continued strategic focus on accelerating the commercial deployment of the Group's M2G technology platform and advance the proposals outlined in the Company's announcement on 21