Corporate Update - US Subsidiary Established

RNS Number : 7163R

Sabien Technology Group PLC

10 March 2021

 

Sabien Technology Group plc

("Sabien" or "the Company")

Corporate Update - US Subsidiary Established

Sabien Technology Group plc   (AIM: SNT), a company focussed on building a portfolio of solutions, in the heating, cooling and transportation sectors, that deliver immediate reductions in CO² emissions, is pleased to announce that it has incorporated Sabien, Inc, its wholly owned US subsidiary in the State of Delaware.

US investor and technology company operator Danny Mills has been appointed as President and Richard Parris is Chairman and Company Secretary of Sabien, Inc. The company will operate from San Antonio, TX.

Sabien, Inc. will be used to source M&A opportunities for the Group in the US and to build and operate distribution channels in the US for Sabien's current and future European businesses.

Richard Parris, Executive Chairman of Sabien, said:

"As a US Green Card holder, I have worked with Danny Mills for more than 10 years on a number of North American projects. In my last company and under my leadership, Intercede Group, generated 71% of sales revenues in 2018 from the US. Danny and I are a strong, experienced team, and investors can be confident in our combined abilities to deliver similar levels of performance at Sabien, Inc.".

Danny Mills, President of Sabien, Inc., said:

"I am delighted to be joining Sabien Inc. at this pivotal time. With a number of US opportunities already identified I believe Sabien, Inc. will make an early contribution to Sabien Technology Group's success. I have enjoyed a very productive working relationship with Richard, and respect his creative and strategic thought processes. Having worked in many industries throughout my career, including the oil and gas industry in Texas, and the technology industry across many verticals, I believe Texas to be the ideal centre for growing Sabien, Inc., given its technology friendly business climate coupled with its energy industry focus."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). The person who arranged for the release of this announcement on behalf of the Company was   Richard Parris, Executive Chairman.

For Further Information: Sabien Technology Group plc Richard Parris, Executive Chairman	[phone]
Allenby Capital Limited (Nominated Adviser) John Depasquale / Nick Harriss	[phone]
Peterhouse Capital Limited (Broker) Duncan Vasey / Lucy Williams	[phone]

 

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