RCS - Sabien Technology - Welsh Freeport

Sabien TechnologyAnnouncement

13/05/2022 07:00

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RNS Number : 4143L  Sabien Technology Group PLC  13 May 2022

13 May 2022

 

Sabien Technology Group plc

("Sabien" or the "Company")

 

Welsh Freeport

The Board of Sabien Technology Group plc (AIM:SNT), a Company focused on a
Green Aggregation Strategy, today welcomes the UK and Welsh Governments'
announcement of co-operation in and funding for the creation of a Welsh
Freeport.

In a landmark statement, both Governments committed to assess jointly bids for
Freeport status. The UK Government committed also to providing £26.0 million
of funding to support this process. The statement asked that bidders for
Freeports should demonstrate both job creation and environmental impact plans
in order to secure this status.

b.grn Group Ltd, ("b.grn"), in which Sabien is a 33.3% shareholder, has been
working actively to secure a site on Anglesey on which to locate its
waste-to-plastic operations. Through this work, b.grn has engaged with the
offices of Virginia Crosbie, Member of Parliament for Ynys Môn, and Rhun ap
Iorwerth AS/MS , Member of the Welsh Assembly. b.grn has also announced today
that it has retained Lambert Hampton Smith ("LHS") to advise them on its
planned purchase of the Anglesey site.

b.grn's statement regarding the announcement today can be viewed at Sabien
Technology Group - Investor communications
(https://sabien.com/investor-communications/) .

Commenting on the Governments' statement, Richard Parris, Sabien's Executive
Chairman, said:

"Anglesey is an ideal site for b.grn's operations. It has a skilled local
workforce, sufficient space for the scale of operation we require, and the
support of its hard-working elected representative. b.grn welcomes the
Governments' decision to fund a Welsh Freeport and congratulates Ms. Crosbie
and her team on its campaign to secure this progress. Currently, our decision
to locate operations in the Holyhead area is conditional on Freeport status
being granted to the area. This levels the playing field with our alternative
location in Humberside. The company looks forward to working further with Ms.
Crosbie and now, LHS to secure access to this important site."

Virginia Crosbie, Member of Parliament for Ynys Môn, commented:

"This is a big day for Anglesey, and I will do all I can to ensure that a
brilliant bid is put forward to grant Freeport status to Holyhead. Companies
like b.grn want to invest in our Island but need certainty over that
investment and the incentives to do so. A Freeport here will do just that, and
I will be working hard across the board with business, with authorities, and
with organisations in North Wales to make the bid a success."

Rhun ap Iorwerth AS/MS, Member of the Welsh Assembly, said:

"This is an industrial site of huge importance, and every effort must me made
to create sustainable economic activity there with high quality jobs. I will
do what I can to support those efforts, including through maximising potential
benefits of freeport status."

 

Further Information:

 Sabien Technology Group plc                  +44 20 7993 3700

 Richard Parris, Executive Chairman

 Allenby Capital Limited (Nominated Adviser)  +44 203 328 5656

 John Depasquale / Nick Harriss

 Peterhouse Capital Limited (Broker)          +44 207 469 0930

 Duncan Vasey / Lucy Williams

 

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 (http://www.sabien-tech.com)

Notes to Editors

Parris Group and Sabien own 66.67% and 33.33% of the SPV respectively. It has
been registered on Companies House under the name b.grn Group Ltd.

Parris Group Limited is owned exclusively by Richard Parris, Executive
Chairman of Sabien, and his family.

 

 

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