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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sabien Technology Group Plc | LSE:SNT | London | Ordinary Share | GB00BN6JG812 | ORD 3P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.50 | 12.00 | 13.00 | 12.50 | 12.50 | 12.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSNT
RNS Number : 3853O
Sabien Technology Group PLC
29 May 2020
29 May 2020
Sabien Technology Group plc
("Sabien" or the "Company")
Management Change; furlough update
The Board of Sabien announces that David Bakst has resigned his role as Managing Director (non-Board) of the Sabien operating company and will leave the employment of the Company by mutual agreement on 31 May 2020.
As the majority of Sabien staff are currently on Covid19 furlough, David's departure will have no immediate impact on business operations. Pending a full return to normal working after the current lockdown, Sabien Executive Chairman, Richard Parris, will undertake the day-to-day management of the operating business.
It is likely that the Company will continue to work with David Bakst from time-to-time on special projects.
Regarding the 31st March 2020 announcement that the Company was placing 85% of staff on furlough, the Company is pleased to report it has live orders for the installation of 350 Sabien M2G units from multiple customers. Some of these customers are indicating that Sabien engineers can start to return to site to undertake installations from early July. Subject to this site access being granted, we anticipate a phased return to normal operations from 1(st) July. This will enable the Company to meet customer demand to install purchased units before the start of the winter heating season.
Richard Parris, Chairman said, "On behalf of the Board, I would like to thank David for his significant contribution as a member of the senior management team at Sabien over the last fourteen years". I also thank Sabien staff for their forbearance during their continuing furlough and I look forward to working with the team to tackle a strong order backlog. Their support has helped prepare the Company for a strong recovery post-pandemic."
For further information please contact:
For further information:
Sabien Technology Group plc Richard Parris, Chairman SPARK Advisory Partners Limited (Nominated +44 20 7993 3700 Adviser) Neil Baldwin / Matt Davis +44 203 368 3500 Peterhouse Capital Limited (Broker) Duncan Vasey/ Lucy Williams +44 207 469 0930
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 rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
May 29, 2020 06:15 ET (10:15 GMT)
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