Sabien Tech. Regulatory News (SNT)

20 Dec 2006 07:00

Sabien Technology Group PLC20 December 2006 Sabien Technology Group plc announces first day of dealings on AIM December 20th 2006: Sabien Technology Group plc ('Sabien' or 'the Company'), aUK company that owns the commercial rights to a system that is proven to helpreduce energy consumption by up to 35% in commercial and industrial boilers,today announces the admission of its ordinary shares to trading on AIM, a marketof the London Stock Exchange. Sabien has raised £4m in a fund raising conducted by Bell Lawrie, comprising a£3.2m placing at 52p per share and £0.8m through the issue of Loan Notes. At theplacing price, Sabien has a market capitalisation of approximately £13.8m. Thepurpose of the fund raising is principally to enable Sabien to increase thescale of its UK operations, to expand into European markets and to further itsproduct development. Sabien's product, M2G, helps commercial clients save up to 35% on their energyconsumption, making their boilers more efficient, as well as reducing harmfulcarbon emissions. M2G can generally be installed in around 90 minutes perboiler, once on site, with no disruption to the boiler operations. Paybackusually occurs within six to 24 months. Alan O'Brien, Chief Executive of Sabien, said: "This is a real milestone forSabien, and is pivotal in our Company's aim to further grow our market share. Webelieve M2G has an important role to play as companies increasingly look to saveon their fuel bills, as well as looking to become moreenvironmentally-friendly." Brewin Dolphin Securities is Nominated Adviser to Sabien and Bell Lawrie isBroker. Sabien markets M2G directly to corporates and also to facilities managementcompanies employed to manage the services within their buildings. Severalcustomers are already using M2G, including an NHS Trust, a range of commercialblue chip clients and one of the UK's largest banks. The M2G is Carbon Trustapproved and qualifies for the Enhanced Capital Allowance Scheme. SabienTechnology is revenue-generating. M2G can be used with a range of fuels and isideally suited for single and multi-boiler applications. Notes to editors: M2G is proven to cut the energy consumption of boilers that use gas and/or oilto heat water and space by up to 35%, without having any negative impact onperformance or reliability. The payback period for M2G tends to be between sixand 24 months. With energy prices rising and environmental concerns growing over recent years,the need to achieve both financial savings as well as an improved environmentalprofile are increasingly becoming important board level issues. Sabien's target customers are high-usage commercial and industrial organisationsusing gas- and oil-fired boilers. Sabien owns the intellectual property, manufacturing and commercial rights tothe M2G technology, has UK Trade Mark approval and has a European patentapplication currently pending. How M2G works: Sabien owns the intellectual property and international marketing rights to M2G,an energy-saving boiler control unit. M2G monitors flow and return watertemperature to a boiler as well as monitoring the firing pattern of the boiler,in order to ascertain the characteristics of both the boiler and its operatingenvironment. These characteristics are subsequently used, in conjunction withthe continuously monitored flow and return temperatures of the boiler, to modifythe firing pattern of the boiler to reduce fuel consumption without compromisingthe effectiveness of the heating system. Contact: SabienAlan O'Brien, Chief Executive 0161 246 6034 Gavin Anderson & CompanyKen Cronin/Marie Cairney/Janine Brewis 020 7554 1400 This information is provided by RNS The company news service from the London Stock Exchange