Business
Sabien First Day of Dealings
Sabien First Day of Dealings.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n Sabien Technology Group PLC\n20 December 2006\n\n\n Sabien Technology Group plc announces first day of dealings on AIM\n\n\nDecember 20th 2006: Sabien Technology Group plc ('Sabien' or 'the Company'), a\nUK company that owns the commercial rights to a system that is proven to help\nreduce energy consumption by up to 35% in commercial and industrial boilers,\ntoday announces the admission of its ordinary shares to trading on AIM, a market\nof the London Stock Exchange.\n\nSabien has raised £4m in a fund raising conducted by Bell Lawrie, comprising a\n£3.2m placing at 52p per share and £0.8m through the issue of Loan Notes. At the\nplacing price, Sabien has a market capitalisation of approximately £13.8m. The\npurpose of the fund raising is principally to enable Sabien to increase the\nscale of its UK operations, to expand into European markets and to further its\nproduct development.\n\nSabien's product, M2G, helps commercial clients save up to 35% on their energy\nconsumption, making their boilers more efficient, as well as reducing harmful\ncarbon emissions. M2G can generally be installed in around 90 minutes per\nboiler, once on site, with no disruption to the boiler operations. Payback\nusually occurs within six to 24 months.\n\nAlan O'Brien, Chief Executive of Sabien, said: 'This is a real milestone for\nSabien, and is pivotal in our Company's aim to further grow our market share. We\nbelieve M2G has an important role to play as companies increasingly look to save\non their fuel bills, as well as looking to become more\nenvironmentally-friendly.'\n\nBrewin Dolphin Securities is Nominated Adviser to Sabien and Bell Lawrie is\nBroker.\n\nSabien markets M2G directly to corporates and also to facilities management\ncompanies employed to manage the services within their buildings. Several\ncustomers are already using M2G, including an NHS Trust, a range of commercial\nblue chip clients and one of the UK's largest banks. The M2G is Carbon Trust\napproved and qualifies for the Enhanced Capital Allowance Scheme. Sabien\nTechnology is revenue-generating. M2G can be used with a range of fuels and is\nideally suited for single and multi-boiler applications.\n\n\nNotes to editors:\n\nM2G is proven to cut the energy consumption of boilers that use gas and/or oil\nto heat water and space by up to 35%, without having any negative im...