Last checked at 22 Nov 2022 07:30
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
22 November 2022
Sabien Technology Group plc
("Sabien" or the "Company")
Investor Update and Annual General Meeting Statement
Investor update
Sabien Technology Group plc (AIM:SNT), the company focused on a green aggregation strategy, will provide a live investor update presentation via the Investor Meet Company platform and in person at Peterhouse Capital Limited, 80 Cheapside, London, EC2V 6DZ commencing at 10.00am today.
At the investor update, Tom Sprunt (Managing Director, M2G) will present an update on the M2G business, which will be made available at https://sabien.com/investor-communications. Tom Sprunt and Richard Parris will answer questions.
Annual General Meeting Statement
Following the investor update, Sabien will hold its Annual General Meeting at the same address 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 economic agreements, and made certain strategic investments.
Since its year end (30 June 2022), Sabien has announced that its special purpose vehicle b.grn Group Ltd ("b.grn") has signed a binding agreement for the first 24T Regenerated Green Oil ("RGO") facility which if successful will generate circa $1,000,000 commission for Sabien. We announce today that Sabien has acquired a further economic interest in the project with the signing of a fixed profit share agreement. Sabien has acquired a £150,000 fixed profit share, payable at £15,000 per annum over the first 10 years of the RGO facility's operation for a payment of £87,527. b.grn is currently in a fund-raising round, and to 30 June 2022 has incurred start-up losses of £255k and has net liabilities of £254k.
Following the Sabien's Environmental Trade Summit on 24 October 2022, b.grn has received multiple international written expressions of interest to be part of the worldwide 'franchise' rollout of the RGO technology. If successful, the rollout will generate an additional significant commission revenue stream for Sabien. b.grn's funding round is ongoing, and we look forward to providing further updates on key milestones.
Alongside the RGO opportunity, Sabien's existing M2G business is building momentum as set out in today's investor update. The next generation M2G Evo solution is close to completion, new avenues of boiler analytics are open to Sabien, the residential market is being explored and recurring revenue is growing.
The Board considers that Sabien has a well-balanced portfolio of the new, high potential technology RGO technology combined with the proven M2G technology which is expanding into new markets and capitalising on the current high energy prices.
The Board looks forward to a year of significant strategic development with the RGO project and growth of the M2G business."
Further Information:
Sabien Technology Group plc +44 20 7993 3700
Richard Parris, Executive Chairman
Scott Fulton, Investor Relations scott.fulton@sabien.com
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
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
About the Investor Update Presentation
The presentation is open to all existing and potential shareholders. The Board encourages questions to be submitted via your Investor Meet Company dashboard during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet SABIEN TECHNOLOGY GROUP PLC via:
https://www.investormeetcompany.com/sabien-technology-group-plc/register-investor
Investors who already follow SABIEN TECHNOLOGY GROUP PLC on the Investor Meet Company platform will automatically be invited.