Last checked at 19 Jun 2008 15:44
19 June 2008
Sabien Technology Group Plc
Statement re share price movement
The Company notes the recent share price movement and confirms that the Directors are not aware of any reason for it.
The business of Sabien is progressing well and the Company intends to make announcements about progress on Project 10 and business development over the coming months and as and when Project 10 M2G pilots have converted to orders. The results of Project 10 pilots from this last winter period produced levels of energy savings of up to 35% with paybacks meeting client expectations.
Due to confidentiality the names of the companies participating in Project 10 is not being made public at this time.
In addition, the recent Mc Kinsey report "The case for investing in Energy Productivity" is a further confirmation that the business is well positioned to take advantage of the increasing investment in energy saving technologies in the property sector.
Cash remains at a comfortable level and is deemed sufficient by the Directors to meet the Company's needs for future growth.
The Directors are confident in the future prospects of the business.
For further information:
Sabien Technology Group plc 020 7993 3700
Alan O'Brien - Chief Executive Officer
Gus Orchard Finance Director
Arbuthnot Securities (NOMAD) 020 7012 2000
Antonio Bossi
Madano Partnership (Financial PR Advisers) 020 7593 4000
Mark Way/Graham Moonie