Last checked at 29 Nov 2023 07:30
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
The directors take responsibility for this announcement.
29 November 2023
Sabien Technology Group plc
("Sabien" or the "Company")
Sabien Technology Group plc (AIM:SNT), the company focused on a green aggregation strategy, will hold its Annual General Meeting today at Peterhouse Capital Limited, 80 Cheapside, London, EC2V 6DZ, commencing at 11.00am.
At this meeting, Richard Parris, Executive Chairman, will make the following statement.
"The Company's financial year 2023 saw considerable progress in both M2G and b.grn, which progress has continued since the year end. Sabien has built, and is building, a portfolio of businesses whose development is expected to produce a range of outcomes across a range of timescales.
M2G represents success in the near term while b.grn is expected to contribute materially within the medium to long term. These are not mutually exclusive. Our work within the HVAC market brings important intelligence for the development of our plastic-to-fuel operation. Our development of b.grn has informed our work within the markets facing M2G, not least geographically.
I am pleased to report that M2G has delivered against challenging expectations. Carbon savings using M2G have almost tripled while Cloud Connect installations are now nearly twice that of a year ago. Since year end, new orders and revenue growth have extended the strongly positive trend during the last financial year. The business has maintained a robust financial position allowing it to further evolve its product offering and geographic footprint.
b.grn has continued to build its relationship successfully with City Oil Field ("COF") and its understanding of the available markets. The Board expects to deliver on key milestones in the year to June 2024.
The Board looks forward to another year of operational progress and financial delivery."
For Further Information:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
Scott Fulton, Investor Relations scott.fulton@sabien.com
Allenby Capital Limited (Nominated Adviser)
John Depasquale / Nick Harriss /Vivek Bhardwaj +44 203 328 5656
Peterhouse Capital Limited (Broker)
Duncan Vasey / Lucy Williams +44 207 469 0930