Retirement of Chairman

RNS Number : 1263L

Sabien Technology Group PLC

30 August 2012

 



Sabien Technology Group plc (AIM - SNT)

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

Retirement of Dr Clive Morton O.B.E. as Chairman and Non-executive Director

Sabien Technology Group plc, the manufacturer and supplier of M2G, a boiler energy efficiency technology, announces that Dr Clive Morton O.B.E., non-executive chairman of the Company, has notified the Company that he intends to step down as chairman of the Company at the next Annual General Meeting, which is to be held in November 2012, and will retire as a non-executive director of the Company as of 30 November 2012.

The Board expects to make an announcement regarding the appointment of a new non-executive chairman in due course.

The Board would like to take this opportunity of thanking Dr Morton for his invaluable guidance as chairman of the Board since the Company floated in December 2006 during which time the Group has successfully grown and moved into profit.

For further information:

Sabien Technology Group plc

Alan O'Brien, CEO                                                                       Tel: [phone]

Gus Orchard, CFO                                                     www.sabien-tech.co.uk

Westhouse Securities

Antonio Bossi                                                              Tel.: [phone]

Petre Norton

About Sabien Technology

Founded in March 2004 by Alan O'Brien, UK-based Sabien Technology specialises in providing proven and commercially viable technology to reduce carbon emissions and energy usage for private and public organisations. Sabien Technology Group Plc floated on AIM in 2006.

The M2G is a patented energy efficient technology designed to reduce fuel consumption in commercial boilers.

M2G dynamically responds to changing load demand by measuring, identifying and removing dry cycling thus maximising efficiency under all conditions.

M2G can be retro-fitted and fully integrates and complements existing controls, such as BMS, boiler sequencing, weather compensation and building optimisation controls.

Using intelligent software and hardware, the M2G unit improves a boiler's efficiency by reducing energy wastage. For further information, please visit our website www.sabien-tech.co.uk

 

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