Sabien Technology Group PLC GM Statement (0519E)
13 July 2016 - 6:08PM
UK Regulatory
TIDMSNT
RNS Number : 0519E
Sabien Technology Group PLC
13 July 2016
Sabien Technology Group Plc
('Sabien' or the 'Company')
General Meeting statement
At the General Meeting to be held later today, Alan O'Brien,
Chief Executive Officer of the Company, will provide the following
update.
Sales pipeline and orders received
As of today's date, the Company is pleased to report that the
sales pipeline is standing at GBP12.5m which compares with GBP11.4m
at the time of the trading update on 2(nd) June.
Pilot programme
The number of UK pilots completed in the financial year to 30
June 2016 was 30 and there are a further five UK pilots which are
still in measurement. The Company is working on the pilot programme
for the current financial year and has received expressions of
interest from a number of organisations which meet the Company's
criteria for inclusion in the programme which is scheduled to
commence in the autumn.
Endotherm
The Company is pleased to announce that it has signed a 10 year
agreement with Endo Enterprises (UK) Ltd ("Endo") to act as sole
distributor in the UK to the commercial market of Endo's EndoTherm
product. EndoTherm is a liquid additive for heating systems which
has been proven to improve thermal efficiency and provide savings
of up to 15%. The Company believes this is a complementary fit with
our existing M2G and M1G products and can be used more conveniently
and effectively together while improving the facilitation of
purchasing for our clients.
UK Trading
Orders of GBP111k have been received since 1 July 2016 and will
be recognised as sales revenue in the current financial year. The
Company continues to maintain three month's cash to cover working
capital which is in line with the Board's strategy.
A further update will be provided to the market at the time of
the preliminary announcement of the full year results in October
2016.
For further information:
Sabien Technology Group
plc
Alan O'Brien, Chief Executive Tel: +44(0) 207 993 3700
Gus Orchard, Finance Director
Stockdale Securities Ltd
Antonio Bossi Tel: +44(0) 20 7601 6100
Rose Ramsden
This information is provided by RNS
The company news service from the London Stock Exchange
END
GMSEAPXDFESKEEF
(END) Dow Jones Newswires
July 13, 2016 04:08 ET (08:08 GMT)
Sabien Technology (LSE:SNT)
Historical Stock Chart
From Apr 2024 to May 2024
Sabien Technology (LSE:SNT)
Historical Stock Chart
From May 2023 to May 2024