RCS - FORGENT PLC - Receipt of NBO for Technology Insurance

ForgentAnnouncement

02/04/2026 07:00

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RNS Number : 1446Z  FORGENT PLC  02 April 2026

 
2 April 2026
Forgent plc
 ("Forgent" or the "Company")

Receipt of non binding offer for Technology Insurance

 

The Company is pleased to announce that it has received a non-binding offer
("NBO") from a leading global insurance provider, arranged through Lockton
Global Energy, in respect of an investment-grade insurance solution initially
structured for one of its customer's potential projects.

The proposed insurance solution is designed to provide coverage for both:

·      the two-year technology warranty period; and

·      a site acceptance test ("SAT") backstop,

representing a significant milestone in the Company's strategy to de-risk
project delivery and enhance bankability.

Importantly, while the NBO has been structured in the context of just one
project, the Company believes that the underlying insurance framework is
capable of being applied across its broader project portfolio. The Board's
intention is to establish a repeatable, scalable insurance solution that can
be deployed across future projects utilising the Company's technology.

As previously announced on 12 March 2026, the Company has been in advanced
discussions regarding the provision of insurance coverage for certain
technical performance risks associated with plants deploying its technology.

The receipt of this NBO represents a tangible progression of those discussions
and an important step towards delivering on that strategy.

If converted into binding documentation on terms consistent with the NBO, the
Company believes such insurance could:

·      materially enhance the bankability of projects deploying its
technology;

·      provide increased confidence to lenders, investors and project
partners; and

·     enable the Company to scale deployment while reducing balance
sheet exposure to technology performance guarantees.

The Company is continuing discussions with the insurer and its advisors with a
view to finalising binding terms. There can be no certainty that a final
agreement will be reached or as to the final terms.

Further updates will be provided in due course.

 

 

For further information on Forgent plc, visit the Company's website
www.forgentplc.com (http://www.forgentplc.com) or contact:

 

ENQUIRIES 

 

 FORGENT plc                                     investors@forgentplc.com

 James Parsons
 Strand Hanson - Nomad & Financial Adviser       +44 20 7409 3494 

 James Harris / Richard Johnson 
 Global Investment Strategy UK Ltd - Broker      +44 20 7048 9045 

 Christopher Kipling

 Samantha Esqulant 

 

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