Sabien Technology Group PLC Corporate Update - US Subsidiary Established (7163R)
March 10 2021 - 1:00AM
UK Regulatory
TIDMSNT
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 CO(2)
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 +44 20 7993 3700
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
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END
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