Last checked at 14 Oct 2021 07:30
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
14 October 2021
Sabien Technology Group plc
("Sabien" or the "Company")
Annual General Meeting Statement
Sabien will hold its Annual General Meeting at the offices of Peterhouse Capital Limited, 80 Cheapside, London, EC2V 6EE commencing at 11.00am today. At this meeting, Richard Parris, Executive Chairman, will make the following statement.
"Sabien's strategy is to invest in the provision of solutions to the Green Economy. In pursuit of this strategy, the Company has raised capital from shareholders, entered into significant cooperation agreements, and made certain strategic investments.
Since its year end (30 June 2021), Sabien has signed an agreement with City Oil Field Incorporated of South Korea ("COF") to act as agent for COF's leading plastic to fuel processing technology across multiple jurisdictions. It has today announced the signing of a £100,000 subscription agreement with Proton Technologies Canada Incorporated, providing economic access to innovative hydrogen capture technology within the oil and gas sector, leading potentially to a wider cooperation agreement.
The Company retains significant capacity to pursue its strategy further, with cash balances £1.07m at 13 October 2021. Sabien notes the recent inflation in gas prices across European markets. M2G is a beneficiary of this market dynamic through its technology applications within a range of non-residential markets.
In summary, Sabien has achieved significant milestones in the last 12 months. It has determined a strategy which combines its historical expertise with the emerging demands of the Green Economy. It has raised capital from shareholders successfully to pursue this strategy. It has deployed this capital selectively and prudently, while retaining the scope to grow further through the exciting opportunities which the Board is examining currently.
The Board looks forward to a year of opportunity and achievement which, with the support of shareholders, will see value created as the Company attains the leadership role it has targeted in the Green Economy."
Further Information:
Sabien Technology Group plc Richard Parris, Executive Chairman  | +44 20 7993 3700  |
Allenby Capital Limited (Nominated Adviser) John Depasquale / Nick Harriss / Vivek Bhardwaj  | +44 20 3328 5656 |
Peterhouse Capital Limited (Broker) Duncan Vasey / Lucy Williams | +44 20 7469 0930 |
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The person who arranged for the release of this announcement on behalf of the Company was Richard Parris, Executive Chairman.
A copy of this announcement will be available from the Company's website at www.sabien-tech.com