Sabien Technology Group PLC
20 December 2006
Sabien Technology Group plc announces first day of dealings on AIM
December 20th 2006: Sabien Technology Group plc ('Sabien' or 'the Company'), a
UK company that owns the commercial rights to a system that is proven to help
reduce energy consumption by up to 35% in commercial and industrial boilers,
today announces the admission of its ordinary shares to trading on AIM, a market
of the London Stock Exchange.
Sabien has raised £4m in a fund raising conducted by Bell Lawrie, comprising a
£3.2m placing at 52p per share and £0.8m through the issue of Loan Notes. At the
placing price, Sabien has a market capitalisation of approximately £13.8m. The
purpose of the fund raising is principally to enable Sabien to increase the
scale of its UK operations, to expand into European markets and to further its
product development.
Sabien's product, M2G, helps commercial clients save up to 35% on their energy
consumption, making their boilers more efficient, as well as reducing harmful
carbon emissions. M2G can generally be installed in around 90 minutes per
boiler, once on site, with no disruption to the boiler operations. Payback
usually occurs within six to 24 months.
Alan O'Brien, Chief Executive of Sabien, said: 'This is a real milestone for
Sabien, and is pivotal in our Company's aim to further grow our market share. We
believe M2G has an important role to play as companies increasingly look to save
on their fuel bills, as well as looking to become more
environmentally-friendly.'
Brewin Dolphin Securities is Nominated Adviser to Sabien and Bell Lawrie is
Broker.
Sabien markets M2G directly to corporates and also to facilities management
companies employed to manage the services within their buildings. Several
customers are already using M2G, including an NHS Trust, a range of commercial
blue chip clients and one of the UK's largest banks. The M2G is Carbon Trust
approved and qualifies for the Enhanced Capital Allowance Scheme. Sabien
Technology is revenue-generating. M2G can be used with a range of fuels and is
ideally suited for single and multi-boiler applications.
Notes to editors:
M2G is proven to cut the energy consumption of boilers that use gas and/or oil
to heat water and space by up to 35%, without having any negative impact on
performance or reliability. The payback period for M2G tends to be between six
and 24 months.
With energy prices rising and environmental concerns growing over recent years,
the need to achieve both financial savings as well as an improved environmental
profile are increasingly becoming important board level issues.
Sabien's target customers are high-usage commercial and industrial organisations
using gas- and oil-fired boilers.
Sabien owns the intellectual property, manufacturing and commercial rights to
the M2G technology, has UK Trade Mark approval and has a European patent
application currently pending.
How M2G works:
Sabien owns the intellectual property and international marketing rights to M2G,
an energy-saving boiler control unit. M2G monitors flow and return water
temperature to a boiler as well as monitoring the firing pattern of the boiler,
in order to ascertain the characteristics of both the boiler and its operating
environment. These characteristics are subsequently used, in conjunction with
the continuously monitored flow and return temperatures of the boiler, to modify
the firing pattern of the boiler to reduce fuel consumption without compromising
the effectiveness of the heating system.
Contact:
Sabien
Alan O'Brien, Chief Executive 0161 246 6034
Gavin Anderson & Company
Ken Cronin/Marie Cairney/Janine Brewis 020 7554 1400
This information is provided by RNS
The company news service from the London Stock Exchange
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