Sabien Technology Group PLC Subscription and possible Co-operation Agreement (0181P)
14 October 2021 - 5:00PM
UK Regulatory
TIDMSNT
RNS Number : 0181P
Sabien Technology Group PLC
14 October 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
14 October 2021
Sabien Technology Group plc
("Sabien" or the "Company")
Subscription and possible Co-operation Agreement with Proton
Technologies Canada Inc.
The Board of Sabien Technology Group plc (AIM:SNT), a Company
focused on building a portfolio of solutions in the heating,
cooling, and transportation sectors, announces today that it is in
exploratory discussions with Proton Technologies Canada Inc.,
("Proton") with the purpose of examining the scope for co-operation
between the two companies during October 2021 related to the
potential synergies between their respective technologies and
projects.
Specifically, Sabien is keen to understand the potential for its
waste-to-fuel process being deployed in conjunction with Proton's
hydrogen production technology. In this regard, Sabien refers to
the Sales Agency Agreement (announced 15 September 2021) into which
it entered with City Oil Field Incorporated of South Korea ("COF")
which provides that Sabien acts as sales agent for COF's
proprietary technology that focuses on the production of light and
ultra-pure fuel products from low temperature processing of
end-of-life plastics.
In advance of more detailed discussions with Proton, Sabien has
entered into a subscription agreement with Proton for the
investment of GBP100,000 in Proton's voting equity shares, giving
Sabien a 0.08% shareholding in the business. Sabien has taken this
step to demonstrate its confidence in Proton's technology and
strategy. The Board believes that the investment represents a
strong opportunity to gain economic access to an exciting emerging
marketplace.
The wider discussions with Proton are at an early stage and the
Board commits to updating shareholders on progress as information
becomes available.
Further Information:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
Allenby Capital Limited (Nominated Adviser)
John Depasquale / Nick Harriss / Vivek Bhardwaj +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
Further information on Proton Technologies Canada Inc., can be
viewed at Lowest cost Hydrogen with Zero Emissions.
(proton.energy)
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END
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