Last checked at 13 May 2022 07:00
13 May 2022
Sabien Technology Group plc
("Sabien" or the "Company")
Welsh Freeport
The Board of Sabien Technology Group plc (AIM:SNT), a Company focused on a Green Aggregation Strategy, today welcomes the UK and Welsh Governments' announcement of co-operation in and funding for the creation of a Welsh Freeport.
In a landmark statement, both Governments committed to assess jointly bids for Freeport status. The UK Government committed also to providing £26.0 million of funding to support this process. The statement asked that bidders for Freeports should demonstrate both job creation and environmental impact plans in order to secure this status.
b.grn Group Ltd, ("b.grn"), in which Sabien is a 33.3% shareholder, has been working actively to secure a site on Anglesey on which to locate its waste-to-plastic operations. Through this work, b.grn has engaged with the offices of Virginia Crosbie, Member of Parliament for Ynys Môn, and Rhun ap Iorwerth AS/MS , Member of the Welsh Assembly. b.grn has also announced today that it has retained Lambert Hampton Smith ("LHS") to advise them on its planned purchase of the Anglesey site.
b.grn's statement regarding the announcement today can be viewed at Sabien Technology Group - Investor communications.
Commenting on the Governments' statement, Richard Parris, Sabien's Executive Chairman, said:
"Anglesey is an ideal site for b.grn's operations. It has a skilled local workforce, sufficient space for the scale of operation we require, and the support of its hard-working elected representative. b.grn welcomes the Governments' decision to fund a Welsh Freeport and congratulates Ms. Crosbie and her team on its campaign to secure this progress. Currently, our decision to locate operations in the Holyhead area is conditional on Freeport status being granted to the area. This levels the playing field with our alternative location in Humberside. The company looks forward to working further with Ms. Crosbie and now, LHS to secure access to this important site."
Virginia Crosbie, Member of Parliament for Ynys Môn, commented:
"This is a big day for Anglesey, and I will do all I can to ensure that a brilliant bid is put forward to grant Freeport status to Holyhead. Companies like b.grn want to invest in our Island but need certainty over that investment and the incentives to do so. A Freeport here will do just that, and I will be working hard across the board with business, with authorities, and with organisations in North Wales to make the bid a success."
Rhun ap Iorwerth AS/MS, Member of the Welsh Assembly, said:
"This is an industrial site of huge importance, and every effort must me made to create sustainable economic activity there with high quality jobs. I will do what I can to support those efforts, including through maximising potential benefits of freeport status."
Further Information:
Sabien Technology Group plc Richard Parris, Executive Chairman
| +44 20 7993 3700
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Allenby Capital Limited (Nominated Adviser) John Depasquale / Nick Harriss
| +44 203 328 5656 |
Peterhouse Capital Limited (Broker) Duncan Vasey / Lucy Williams | +44 207 469 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
Notes to Editors
Parris Group and Sabien own 66.67% and 33.33% of the SPV respectively. It has been registered on Companies House under the name b.grn Group Ltd.
Parris Group Limited is owned exclusively by Richard Parris, Executive Chairman of Sabien, and his family.