REG - Sabien Technology - Update in relation to Aeristech Limited

Sabien TechnologyAnnouncement

06/02/2025 11:45

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RNS Number : 2122W  Sabien Technology Group PLC  06 February 2025

The information contained within this announcement was deemed by the Company
to constitute inside information as stipulated under the UK Market Abuse
Regulation

 

6 February 2025

 

Sabien Technology Group plc

("Sabien", the "Company" or the "Group")

 

Update in relation to Aeristech Limited

 

Sabien (AIM: SNT), a leading provider of energy reduction technologies,
announces that it has reviewed the value of its minority investment in
Aeristech Limited ("Aeristech"). This follows the Company being informed that
Aeristech will be placed into administration.

 

On 26 February 2021, Sabien announced that it had invested £100,000 at £2.40
per share into Aeristech, a UK-based manufacturer of power-dense compressors
used within hydrogen fuel cells.

 

During the period following Sabien's investment, Aeristech regularly raised
funds in excess of £2.40 per share. Despite this, the board of directors of
Sabien (the "Board") was surprised to learn of the recent demise of Aeristech
and that it will be placed into administration.

 

In light of this, the Board no longer expects to recover any of its investment
in Aeristech. Accordingly, a full impairment provision will be made in the
interim accounts for the Company for the six months ended 31 December 2024
which are due to be announced before the end of March 2025.

 

Richard Parris, Executive Chairman of Sabien, commented: "It was very
disappointing to learn of the administration of Aeristech. The company had a
highly innovative product with significant carbon reduction potential. Sabien
continues to seek aggregation opportunities in the green technology sector but
will place increasing emphasis on intellectual property that we can develop
and exploit in-house."

 

 For further Information, please contact:

 Sabien Technology Group plc

 Richard Parris, Executive Chairman                    +44 20 7993 3700

                                                       investors@sabien.com
 Allenby Capital Limited (Nominated Adviser)

 John Depasquale / Nick Harriss / Vivek Bhardwaj       +44 203 328 5656

 Peterhouse Capital Limited (Broker)

 Duncan Vasey / Lucy Williams                          +44 207 469 0930

 

About Sabien Technology Group plc

Sabien Technology Group plc provides energy reduction solutions designed to
help businesses achieve their sustainability goals, with a particular focus on
reducing energy consumption and carbon emissions.

 

The Sabien Technology Group plc holds the Green Economy Mark from the London
Stock Exchange, recognising companies generating over 50% of their revenues
from sustainable products and services.

 

Website: www.sabien.com

 

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