Update on Related Party Funding

Sabien Technology Group PLC

27 October 2026

 

27 October 2026

Sabien Technology Group plc

(“Sabien”, the “Company” or the “Group”)

Update on Related Party Funding

Sabien (AIM: SNT), a provider of energy efficiency technologies through its M2G intelligent boiler optimisation platform, announced details of funding arrangements with Richard Parris' family office - Parris Group Limited ("PGL") on 20 August 2024, part of which related to PGL providing support for the Company’s Information Technology and Research & Development functions (the “Support Agreement”) and reconfirmation of a £200,000 loan facility originally announced on 19 February 2024 (the “Loan Agreement”).  Separately, the Company agreed an invoice factoring facility with PGL, announced on 10 November 2025 and confirmed on 22 December 2025 (the “Factoring Agreement”).

As part of the audit process for the year to 30 June 2026, it has been identified that on 19 December 2025, alongside the documents for the Factoring Agreement, the Support Agreement was formally documented in an IP licence agreement and the Loan Agreement was restated. These changes constitute transactions with a related party under the AIM Rules for Companies (the “AIM Rules”), but were not treated as such at the time (the “Amendments”).

Under the Amendment to the Support Agreement, the terms were varied from a straight 5% royalty commission on all M2G sales, payable to PGL once cash was collected from the end customer by Sabien to include a Levelling Up clause.  Under the Levelling Up clause, where the eligible development and maintenance costs charged to PGL in a financial year under the Support Agreement exceed the 5% royalty commission for that year, the excess becomes due to PGL after the year end.  The development work is carried out by a related entity to PGL.  The charges are benchmarked to independent sources as being in line with or below market rates, and PGL passes them on to the Company at cost without any further mark-up.  At 30 June 2026, the cumulative amount due under the Levelling Up clause was £128k, of which £98k related to the year to 30 June 2026. 

No Levelling Up payments have yet been made to PGL. PGL has agreed to defer payment of the full £128k due at 30 June 2026, covering the years ended 30 June 2025 and 2026, for at least 12 months from the date of approval of the Group’s financial statements for the year ended 30 June 2026.  Development work carried out under the Support Agreement is capitalised as an intangible asset owned by the Group, with a carrying amount of £139k at 30 June 2026.

Under the Amendment to the Loan Agreement, the loan has become secured under the same debenture announced on 10 November 2025 relating to the Factoring Agreement.

The entry by the Company into the Amendments are deemed to constitute related party transactions pursuant to AIM Rule 13. In this regard, the Company’s current directors independent of the Amendments, being Ed Sutcliffe, Charles Goodfellow and Ranald McGregor-Smith, consider, having now consulted with the Company’s nominated adviser, Allenby Capital, that the terms of the Amendments are fair and reasonable insofar as the Company’s shareholders are concerned.

For further information

Sabien Technology Group plc

Richard Parris, Executive Chairman

[phone]

[e-mail]

Allenby Capital Limited (Nominated Adviser)

John Depasquale / Nick Harriss / Vivek Bhardwaj

[phone]

AlbR Capital Limited (Broker)

Duncan Vasey / Lucy Williams

[phone]

About Sabien Technology Group plc

Sabien Technology Group plc develops technologies that help organisations reduce energy consumption, lower carbon emissions and improve building efficiency through intelligent energy optimisation technologies.

The Company holds the London Stock Exchange’s Green Economy Mark, recognising listed companies deriving more than 50% of revenues from products and services supporting the global green economy.

Website: www.sabien.com

 

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