Receipt of NBO for Technology Insurance

FORGENT PLC

02 April 2026

 

 

2 April 2026

Forgent plc
("Forgent" or the "Company")

Receipt of non binding offer for Technology Insurance

The Company is pleased to announce that it has received a non-binding offer ("NBO") from a leading global insurance provider, arranged through Lockton Global Energy, in respect of an investment-grade insurance solution initially structured for one of its customer's potential projects.

The proposed insurance solution is designed to provide coverage for both:

·      the two-year technology warranty period; and

·      a site acceptance test ("SAT") backstop,

representing a significant milestone in the Company's strategy to de-risk project delivery and enhance bankability.

Importantly, while the NBO has been structured in the context of just one project, the Company believes that the underlying insurance framework is capable of being applied across its broader project portfolio. The Board's intention is to establish a repeatable, scalable insurance solution that can be deployed across future projects utilising the Company's technology.

As previously announced on 12 March 2026, the Company has been in advanced discussions regarding the provision of insurance coverage for certain technical performance risks associated with plants deploying its technology.

The receipt of this NBO represents a tangible progression of those discussions and an important step towards delivering on that strategy.

If converted into binding documentation on terms consistent with the NBO, the Company believes such insurance could:

·      materially enhance the bankability of projects deploying its technology;

·      provide increased confidence to lenders, investors and project partners; and

·     enable the Company to scale deployment while reducing balance sheet exposure to technology performance guarantees.

The Company is continuing discussions with the insurer and its advisors with a view to finalising binding terms. There can be no certainty that a final agreement will be reached or as to the final terms.

Further updates will be provided in due course.

For further information on Forgent plc, visit the Company's website www.forgentplc.com or contact:

ENQUIRIES  

FORGENT plc James Parsons	[e-mail]
Strand Hanson - Nomad & Financial Adviser James Harris / Richard Johnson	[phone]
Global Investment Strategy UK Ltd - Broker Christopher Kipling Samantha Esqulant	[phone]

 

END