Sabien Technology Group PLC Directorate Change (2120S)

TIDMSNT

RNS Number : 2120S

Sabien Technology Group PLC

05 November 2019

For immediate release

5 November 2019

Sabien Technology Group plc

("Sabien" or the "Company")

Board change

The Board of Sabien announces that Alan O'Brien, Sabien's founder, is resigning his role as Chief Executive of the Company and has resigned from the Board with immediate effect from today.

It is likely that the Company will continue to work with Alan from time-to-time on special projects.

Following Alan's departure from the Company, Non-executive Chairman, Richard Parris, will become Executive Chairman and Chief Operations Officer, David Bakst, will be promoted to Managing Director (non-Board). Both positions will held be on an interim basis pending the outcome of a business review.

Richard Parris, Chairman said, "On behalf of the Board, I would like to thank Alan for his stewardship during what has been a challenging period for the Company and for his significant contribution as Chief Executive of Sabien over the last twelve years".

Alan O'Brien said, "Now that the company is entering a new phase I believe it is "the right moment" to step away from the role of CEO to pursue other entrepreneurial opportunities. I intend to remain a shareholder of the Company and wish our clients, shareholders and especially the operational team at Sabien, the very best for the future."

A copy of this announcement is available on the Company's website at http://www.sabien-tech.co.uk

For further information please contact:

 
 Sabien Technology Group plc                     [phone] 
  Richard Parris                                  3700 
 Beaumont Cornish Limited (Nominated Advisor) 
  Michael Cornish and Roland Cornish             [phone] 
  www.beaumontcornish.com                         3396 
 Peterhouse Capital Limited (Broker)             [phone] 
  Duncan Vasey and Lucy Williams                  0930 
 

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Richard Parris, Executive Chairman.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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November 05, 2019 02:00 ET (07:00 GMT)